SM Prime - updates

Rappler's latest stories on SM Prime

ARTICLE FINDER

SM profits down 5% in Q1 2020 as it waives mall rent over virus

May 15, 2020 - 6:40 PM

SM Prime maintains its 2020 capex at P80 billion despite the coronavirus crisis

Robinsons, SM Prime present plans to redevelop Baguio market

Feb 22, 2020 - 11:23 AM

The Baguio City government is expecting more proposals from big companies. Vendors' groups and concerned citizens are opposed to the participation of big business in the public-private partnership project.

NEW BAGUIO MARKET. Baguio City Mayor Benjamin Magalong and other city officials at the presentation of Robinsons Land Corporation and SM Prime Holdings on their respective proposals for the redevelopment of the Baguio market. Photo from Baguio City PIO Facebook page

SM Prime earnings jump 18% to P38.1 billion in 2019

Feb 17, 2020 - 8:25 PM

SM Prime's earnings soar as it aggressively expands to key developing cities in the Philippines

SM Prime gets go signal for P100-billion bond offering

Feb 13, 2020 - 6:10 PM

SM Prime says the money generated from the bonds will be used for more malls and other expansion projects

Thank you Harrison Plaza: People go down memory lane as mall shuts down

Dec 31, 2019 - 1:41 PM

Do you have memories of Harrison Plaza?

The Harrison plaza in Malate, Manila, one of the country's first major shopping mall, will reportedly stop for operation on December 31, 2019 after 43 years. Photo by Inoue Jaena /Rappler

IN PHOTOS: Last look at Harrison Plaza

Dec 31, 2019 - 9:23 AM

The once upscale mall ends operations on December 31, 2019

GOODBYE. This photo taken December 30, 2019 shows Harrison Plaza in Malate, Manila, one of the country's first major shopping malls. It will reportedly cease operations on December 31, 2019 after 43 years. Photos by Inoue Jaena/Rappler

FAST FACTS: Harrison Plaza

Dec 30, 2019 - 9:08 AM

The once upscale complex in Manila bills itself as 'the country's first one-stop shopping mall'

File photo from Wikipedia

SM Prime gets approval for 360-hectare reclamation project

Dec 06, 2019 - 6:48 PM

'We have complied with all the requirements of national agencies and secured all the required permits and clearances to enable SM Prime to commence with the reclamation project,' says SM Prime President Jeffrey Lim

SM Prime's expansion pays off as earnings soar in January-September 2019

Nov 04, 2019 - 8:35 PM

Property sales in Pampanga, Rizal, and Cavite, among others, boost SM Prime's earnings

SM Prime earnings rise by 16% in 1st half of 2019

Jul 15, 2019 - 6:25 PM

Integrated property developer SM Prime cites the stable Philippine economy as a factor in its double-digit growth

SM Prime Holdings adopts Parañaque River, estuary

Apr 02, 2019 - 4:40 PM

SM Prime Holdings will help the government improve the water quality of the Parañaque River and Estero de Gallina to the point where they can support aquatic life

Environment Secretary Roy Cimatu visits an informal settlement along Estero de Gallina in Pasay City, where some 140 families currently reside in. These families will be relocated by the government. Photo by Anna Mogato/ Rappler

More malls drive SM Prime's 2018 net income to P32.2 billion

Feb 11, 2019 - 6:15 PM

SM Prime Holdings rakes in more cash in 2018 as its mall business expands further outside Metro Manila

Olongapo mayor, execs to defy suspension order

Aug 07, 2018 - 8:00 AM

Olongapo City Mayor Rolen C. Paulino says the Ombudsman’s decision to suspend them for 6 months over misconduct is unfair

DEATH OF DEMOCRACY? Supporters of Olongapo Mayor Rolen Paulino brought in front of city hall 3 signifying the death of democracy in Olongapo. Photo by Randy Datu/Rappler

Ombudsman orders 6-month suspension of Olongapo mayor, city officials

Jul 11, 2018 - 7:12 PM

The complaint against Olongapo Mayor Rolen Paulino, Vice Mayor Aquilino Cortez Jr, and members of the city council stems from the city government's approval of the long-term lease of government land to SM Prime Holdings Incorporated

OLONGAPO CHIEF. Olongapo City Mayor Rolen Paulino and other city officials face a 6-month suspension over with city government's lease agreement with SM Prime Holdings Incorporated. Photo from Mayor Rolen Paulino's Facebook page

SM City Telabastagan opens in Pampanga on May 18

May 17, 2018 - 6:15 PM

SM City Telabastagan, SM Prime's 3rd mall to open this year, will have 55,000 square meters of gross floor area

3RD THIS YEAR. Located along Pampanga's major thoroughfare McArthur Highway, SM City Telabastagan will open with two floors of shopping, multi-cultural dining and entertainment zone. Image from http://sminvestments.com/

SM gets income boost from property, retail units

May 09, 2018 - 3:35 PM

The listed conglomerate of the Philippines' richest man posts a 10% rise in net income for the 1st quarter of 2018, thanks to its core businesses

STRONG RESULTS. SM president Frederic DyBuncio says: 'We continue to build on our strong 2017 performance with revenues rising faster in the first quarter this year.' Photo by Rob Reyes/Rappler

SM City Urdaneta Central opens in Pangasinan on May 4

May 03, 2018 - 4:50 PM

It is SM Prime's second mall in Pangasinan, and the second of 5 provincial malls that the real estate firm is opening in 2018

 Image from SM Prime

SM Group to expand, but not keen on telco

Apr 25, 2018 - 6:05 PM

SM Investments Corporation does not plan to go into the telecommunications industry, citing its lack of know-how and the high capital budget requirement

EXPANDING FOOTPRINT. SM president and chief executive officer Frederic DyBuncio says SM group is looking to invest in 'partners' in high-growth sectors. Photo by Rob Reyes/Rappler

Henry Sy Jr retires early from NGCP

Mar 07, 2018 - 5:00 PM

The son of the country's richest man leaves the National Grid Corporation of the Philippines 'to focus on his real estate business'

SM Center Imus set to open in Cavite

Feb 14, 2018 - 3:30 PM

The 13,000-square-meter mall is SM Prime's 6th in Cavite and will open its doors on Friday, February 16

SM to open 3rd mall in Batangas on December 15

Dec 14, 2017 - 4:43 PM

The 3-storey SM Center Lemery is SM Prime's 3rd mall in the province and will add 25,000 square meters to the developer's total gross floor area

RISING SOON. The new SM Center Lemery will be opening its doors in time for the holidays. Image from SM Prime

SM Center Pulilan set to open in Bulacan on December 1

Nov 29, 2017 - 9:20 PM

It will be SM Prime's 4th mall in Bulacan and its 66th in the Philippines

Photo from SM prime

SM Prime income surges 16% on steady mall rental, residential sales

Nov 06, 2017 - 9:35 PM

SM Prime attributes revenue growth to higher rental revenues, steady improvement in same-mall-sales, and higher contribution from residential sales

65TH. SM Center Tuguegarao Downtown is the Sy family's 65th mall in the Philippines. Photo by Raymon Dullana/Rappler

SM to open mall in Tuguegarao on October 12

Oct 10, 2017 - 3:25 PM

SM Center Tuguegarao Downtown will be SM's 2nd mall in the Cagayan Valley region

FIRST IN CAGAYAN VALLEY. SM's new mall in Tuguegarao is strategically located at the corner of Luna and Mabini streets, which are main thoroughfares in this major urban city in the north. Rappler photo

Construction of MRT-LRT common station finally begins

Sep 29, 2017 - 4:19 PM

The station linking the MRT7, MRT3, and LRT1 lines is targeted for completion in two and half years, according to the Department of Transportation

DOTr Secretary Athur Tugade (6th-R) Executive Secretary Salvador Medialdea (7th-R) and PCCO Secretary Martin Andanar (5th-R) joint with Representatives From MRT-LRT and SM Mall and Trinoma Mall during the Groundbreaking Ceremony of the Common Station that will connect four lines (LRT1, MRT3,MRT7, and the Metro Manila Subway in North Triangle Transport Terminal, EDSA corner North Avenue, Quezon City on Friday, September 29,2017. Photo by DARREN LANGIT

After a decade, construction of MRT-LRT Common Station to begin in September

Sep 19, 2017 - 9:10 PM

The coveted project has seen 3 transportation secretaries come and go. Finally, the construction will start on September 29.

SM Prime to open mall in Puerto Princesa, Palawan

Sep 13, 2017 - 4:50 PM

Once the mall opens on Friday September 15 it will be competing with Robinsons Place Palawan Chinatown Center Palawan NCCC Mall and LRC 908 Market Mall

ITS FIRST. SM City Puerto Princesa will have 3 levels of retail and dining floors, a supermarket, 3 158-seater SM digital cinemas, and two 48-seater Director's Club cinemas. File photo Rappler

Mall operations continue to drive SM Prime's net income

Aug 07, 2017 - 5:45 PM

The additional 1 1 million square meters of retail space from new malls as well as expansions between 2015 and 2017 drive growth in SM Prime s mall rentals

FAST FACTS: SM Investments Corporation

Jun 28, 2017 - 7:45 PM

Here's what every consumer should know about SM Investments Corporation, the conglomerate of the Philippines' richest man

SM Cherry Antipolo set to open

Jun 28, 2017 - 3:35 PM

SM Cherry Antipolo opening on June 30 is the 63rd SM mall in the Philippines By the end of the year SM City Puerto Princesa will also be opened

63RD MALL. SM says the 3-level mall is already 55% leased to tenants when it opens on Friday, June 30. Image from Facebook page of SM Cherry Antipolo

Doing business under Duterte? Philippines' richest family shows how

Jun 21, 2017 - 7:13 PM

Henry Sy Sr s conglomerate is expanding its presence in China and Mindanao His group has also started submitting unsolicited proposals for public infrastructure

20 Philippine companies in Nikkei's top 300 Asian firms list

Jun 18, 2017 - 11:10 PM

SM Prime and Universal Robina make it to the top 30 while Bloomberry – the owner of Solaire Resort and Casino – joins the list for the first time

ASIA'S BEST. SM Prime Holdings Incorporated and Universal Robina Corporation made it to the top 30 of Nikkei's Asia300

Ayala, SM taipans finally at ease over MRT-LRT common station

Apr 29, 2017 - 10:02 PM

At a recent government forum Jaime Zobel De Ayala and Teresita Sy Coson share a light hearted moment over the common station that their firms argued over for nearly 8 years

SM Prime, Ayala to defy China's slowdown

Apr 26, 2017 - 9:15 AM

While SM Prime plans to increase its investments in China Ayala is in talks with several Chinese firms that are interested in venturing into Philippine infrastructure

CHINESE TASTES. SM City Xiamen shows how well SM has adapted to China. It started as a mass market department store in 2001, then expanded to a lifestyle mall with upscale brands. Photo by Mia Gonzales/Rappler

Can conglomerates foster inclusive development in PH?

Apr 03, 2017 - 10:00 AM

The country faces a dilemma in development as it strives to achieve growth and progress amid distress and poverty

DILEMMA. The Philippines is one of the fastest growing economies despite having the third highest poverty incident rate in ASEAN.

Why SM Investments lost P73 billion in a day

Mar 10, 2017 - 9:37 PM

SM Prime Holdings Incorporated overtakes SM Investments as the country s most valuable listed company in terms of market capitalization

SHARP DROP. The drop in SM shares dragged the Philippine Stock Exchange index (PSEi), which fell 149.18 points or 2.05% to close at 7,146.27 on Friday, March 10.

Property, banking fuel SM Investments' net income

Mar 01, 2017 - 9:10 PM

The Sy family s property and banking businesses continue to drive their conglomerate s financial performance

UPBEAT. SMIC says its property unit accounted for 39% of total earnings in 2016, with banks comprising 37% and retail 24%. Photo by Chrisee Dela Paz/Rappler

Lack of one-time gain drags SM Prime's 2016 profit

Feb 21, 2017 - 4:15 PM

SMPHI says its bottomline stood at P23 8 billion for 2016 compared to 2015 s P28 3 billion which included a P7 4 billion one time trading gain

'WELL-POSITIONED.' SM Prime President Jeffrey Lim (in the middle) says the company is well-positioned to capture the positive impact of the higher infrastructure spending intended by the government. Photo by Martin San Diego/Rappler

Senators convinced 'best' location achieved for MRT-LRT common station

Feb 13, 2017 - 7:00 PM

But the Senate committee wants someone to be held liable for the P200 million naming rights contract of SM Prime which caused the almost 8 year delay of the project

PROBE INTO COMMON STATION. Senator Grace Poe, chair of the Committee on Public Services on Monday, February 13, 2017, leads probe into the MRT-LRT Common Station deal. Senators JV Ejercito and Sherwin Gatchalian also attended the hearing. PRIB Photo by Cesar Tomambo.

Vitangcol eyes charges vs DOTr execs over MRT-LRT common station

Jan 19, 2017 - 6:51 PM

Former MRT3 chief Al Vitangcol III claims transportation officials violated the procurement law when they allowed a compromise deal on the common station

TURNING AGAINST DOTR. While answering to his multiple graft charges before Sandiganbayan, dismissed MRT3 General Manager Al Vitangcol wants to sue officials of the DOTr over alleged violations of the procurement laws. File photo by Ben Nabong/Rappler

Commercial operations for MRT-LRT Common Station eyed in April 2019

Jan 18, 2017 - 2:50 PM

Rarely seen together the country s top businessmen come to agree on the final location of the Metro Rail Transit MRT Light Rail Transit LRT Common Station project

ENDING DEADLOCK. The country's top honchos, Manuel V. Pangilinan, Ramon S. Ang, Hans Sy, and Jaime Augusto Zobel de Ayala, come together to sign a Memorandum of Agreement ending the squabble on the MRT-LRT Common Station deal, Wednesday, January 18, at the Dusit Hotel in Makati City. Photo by Martin San Diego/Rappler

MRT-LRT common station to be done in 2.5 years – DOTr

Dec 22, 2016 - 9:40 PM

Transportation Secretary Arthur Tugade says the signing of the compromise agreement on the common station is expected before 2016 ends

HAMPERING MASS TRANSIT. The stay order on the transfer of the site of the common station is barring the construction of the MRT7 and design work for the common station project that has been bundled with the LRT1 Cavite Extension project. SM North City EDSA and TriNoma photos from Ramon F. Velasquez

Strong mall revenues drive SM Prime's net income

Nov 07, 2016 - 5:25 PM

The chief of SM Prime says his company expects its success to continue over the medium term as economic growth spreads to the rest of the Philippines

FOOT TRAFFIC. A bridge connects Phase 1 and Phase 2 of SM City Xiamen in Fujian, China, boosting traffic in the newer wing. Photo by Mia Gonzalez/Rappler

Deal reached: LRT-MRT common station between SM North, TriNoma

Sep 27, 2016 - 3:55 PM

A memorandum of understanding is set to be signed on Wednesday September 28

HAMPERING MASS TRANSIT. The stay order on the transfer of the site of the common station is barring the construction of MRT7 and design work for the common station project that has been bundled with LRT1 Cavite Extension project. SM North City EDSA and TriNoma Mall photos from Ramon F. Velasquez

SM Prime to open 7 new malls in 2017

Aug 30, 2016 - 1:08 PM

By end of 2017 SM Prime will have 67 malls nationwide

AGGRESSIVE EXPANSION. The biggest mall to open in 2017 is SM Premier Cagayan de Oro with 81,133 sqm. Rappler file photo

SMIC posts 8% income growth, plans more land reclamation

Aug 04, 2016 - 5:07 PM

The conglomerate plans to reclaim 660 hectares of land in Manila Bay in partnership with the city governments of Parañaque and Pasay for a mixed use development

Upbeat retail, real estate lift SM Prime's profit

Aug 01, 2016 - 7:05 PM

Both mall operations and residential projects of the Sy family post higher revenues in the first half of the year

BOW. SM Prime president Hans Sy leads the opening of SM Angono, the company's 50th mall, on November 14, 2014. File photo from SM Supermalls Facebook page

Hans Sy retiring as SM Prime president

Jul 05, 2016 - 8:00 PM

But Sy will remain highly involved in the company s overall strategic direction as chairman of SMPHI s Executive Committee and member of the board

BOW. SM Prime President Hans T. Sy leads the opening of SM Angono, the company's 50th mall, on Friday, November 14, 2014. Photo from SM Supermalls Facebook page

SMIC retains capital spending budget of P85B in 2016

Apr 27, 2016 - 9:30 PM

Bulk of the budget will be used to launch more shopping malls hotels office developments and residential projects

AGGRESSIVE EXPANSION. For 2016, SM Investments executives say their core units will continue with their aggressive expansion plans. Photo by Chrisee Dela Paz/Rappler

Failed bidding: No takers for Laguna Lakeshore Expressway Dike

Mar 28, 2016 - 4:25 PM

3rd UPDATE Team Trident San Miguel and Malaysia s Alloy MTD do not submit offers for the country s most complicated public private partnership deal to date

NO TAKERS. The Laguna Lakeshore Expressway Dike deal is the 'most complicated' public-private partnership (PPP) project to date. Image from DPWH website