Category: SM Prime

SM Prime hailed as the Best Developer in the Philippines Property Awards 2015

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SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, won the Best Developer Award, the highest award given by the Philippines Property Awards 2015 at the Raffles and Fairmont Hotel. This makes SM Prime the Philippine entry to compete on October 2015 in Singapore against other developers coming from China, Singapore, Malaysia, Indonesia, and Vietnam.

“On behalf of our Chairman, Mr. Henry Sy, Jr., our President, Mr. Hans Sy and SM Prime team, we humbly accept this prestigious award. With this, we are more inspired to provide innovative and sustainable lifestyle cities for the greater good of the communities we serve, thank you.” SM Prime Executive Vice President Mr. Jeffrey Lim said when he received the award.

SM Prime, with a total of nine nominations across the twenty-five award categories, was conferred the evening’s biggest winner. SM Prime group also dominated several categories and bagged four awards aside from the Best Developer Award. These include Best Retail Development and Best Retail Architectural Design, for Mega Fashion Hall. Meanwhile, SM Development Corporation (SMDC), earned the trophy for Best Landscape Architectural Design for Shell Residences and Best Affordable Condo Development (Metro Manila) for Mezza II Residences.

The Philippines Property Awards 2015 celebrated the best of the best current projects in the Philippine’s real estate industry, given that we have a strong Philippine economy which positively affecting the real estate market and exhibits robust growth in the commercial, residential, offices and mixed-use sectors, as well as gearing on the opportunities across the regions.

SM Prime will remain committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

SM Prime hailed as the Best Developer in the Philippines Property Awards 2015

PRNEWS Admin Leave a comment

SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, won the Best Developer Award, the highest award given by the Philippines Property Awards 2015 at the Raffles and Fairmont Hotel. This makes SM Prime the Philippine entry to compete on October 2015 in Singapore against other developers coming from China, Singapore, Malaysia, Indonesia, and Vietnam.

“On behalf of our Chairman, Mr. Henry Sy, Jr., our President, Mr. Hans Sy and SM Prime team, we humbly accept this prestigious award. With this, we are more inspired to provide innovative and sustainable lifestyle cities for the greater good of the communities we serve, thank you.” SM Prime Executive Vice President Mr. Jeffrey Lim said when he received the award.

SM Prime, with a total of nine nominations across the twenty-five award categories, was conferred the evening’s biggest winner. SM Prime group also dominated several categories and bagged four awards aside from the Best Developer Award. These include Best Retail Development and Best Retail Architectural Design, for Mega Fashion Hall. Meanwhile, SM Development Corporation (SMDC), earned the trophy for Best Landscape Architectural Design for Shell Residences and Best Affordable Condo Development (Metro Manila) for Mezza II Residences.

The Philippines Property Awards 2015 celebrated the best of the best current projects in the Philippine’s real estate industry, given that we have a strong Philippine economy which positively affecting the real estate market and exhibits robust growth in the commercial, residential, offices and mixed-use sectors, as well as gearing on the opportunities across the regions.

SM Prime will remain committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

SM Prime’s Mall Brand Cited as Most Trusted in the Philippines

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Property conglomerate SM Prime Holdings’ mall brand, SM Supermalls was cited by Reader’s Digest as one of the most valued and preferred shopping mall brands in the Philippines for the fourth year in a row. To add to the distinction, SM Supermalls was the only awardee for the Philippine mall category this year.

SM Supermalls was awarded the Platinum Trusted Brand in the Shopping Center category last June 30, 2015 under the annual Trusted Brands Survey conducted by Reader’s Digest.

“Being recognized by the people we serve is an honor we deeply value,” Annie Garcia, President of SM Supermalls said. “SM Supermalls is where it is because of our customers. They inspire us to keep improving and innovating in every location. Their trust is very valuable to us,” she added.

Reader’s Digest tapped leading global market research firm Ipsos to conduct the poll last year. They surveyed individuals across the Philippines and the results showed that SM Supermalls received exceptional rankings for trustworthiness, credibility, quality, value, understanding of customer needs, innovation, and social responsibility.

The recognition fortifies the SM Supermalls brand which connotes world class, accessible, diverse, and top-value shopping, dining, and entertainment experiences. It is also a testament to the goodwill that the brand has built as SM Prime continues to strengthen through community engagement and through its integrated, environmental, social and governance programs under SM Cares.

The Readers’ Digest Trusted Brands survey recognizes the best brands in the world every year. Awards are given in 42 categories, covering products and services across diverse industries. The Platinum award is given to brands whose scores are significantly higher than Gold awardees, while the Gold award is given to those that score significantly higher than their rivals.

SM Prime Posts Net Income of PHP12.6 Billion in Q1 2015

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SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, reported a consolidated net income of PHP12.6 billion in the first quarter, up 176% from the same period last year which included the extraordinary gain from the sale of marketable securities worth PHP7.4 billion.

Excluding the one-time gain, net income grew 14% to PHP5.2 billion in the first quarter of 2015, higher than the 11% growth posted in the same period last year. Consolidated revenues also increased by 9% to PHP16.7 billion from PHP15.3 billion in 2014.

SM Prime’s rental revenues from retail and commercial spaces, which accounted for 57% of the consolidated revenues, grew by 10% to PHP9.4 billion in the first quarter from PHP8.6 billion in same period of 2014. The growth was led by the significant increase in rental revenues, primarily from the new malls that opened and the expansion of existing malls in 2013 to 2014. These were SM Aura Premier in Taguig, SM City BF in Parañaque, Mega Fashion Hall in SM Megamall in Mandaluyong, SM City Cauayan in Isabela and SM Center Angono in Rizal. Combined, these new and expanded malls have a total gross floor area of 564,000 square meters. Growth was also partly driven by the company’s increasing office spaces. Aside from TwoE-comCenter in Pasay, SM Prime recently launched SM Cyberwest in Quezon City which is now fully occupied. Meanwhile, same-store rental grew by 7%, sustaining the growth posted in 2014.

The mall’s cinemas generated ticket sales of PHP1.0 billion, from PHP1.1 billion with a slight decrease in blockbuster movies shown in the first quarter of 2015 versus the same period last year. Meanwhile, amusement and other revenues increased by 32% to PHP900 million in the first quarter of 2015. The increase was mainly due to the strong patronage of amusement rides, especially the opening of Sky Ranch Pampanga. Cinemas and amusements accounted for 11% of SM Prime’s consolidated revenues during the period under review.

SM Prime’s housing group, which contributed 32% to consolidated revenues, recorded a 7% gain to PHP5.4 billion in real estate sales in the first quarter 2015 from PHP 5.0 billion in the same period last year. This allowed the group to post a 37% increase in net income to PHP 1.3 billion in the period under review. The growth was mainly driven by the increase in the sales take-up and higher construction accomplishment of projects launched in 2010 to 2013 namely Shore Residences in Pasay, Green Residences in Manila, Wind Residences in Tagaytay, Grace Residences in Taguig and Shell Residences in Pasay. Meanwhile, reservation sales grew by 47% year-on-year to 3,721 units in the first quarter of 2015 translating to a 34% increase to PHP9.5 billion in value terms in the same period from PHP7.1 billion in the first quarter of 2014. Most of the reservation sales were generated from Shore Residences and Air Residences projects in Pasay and Makati City, respectively.

Consolidated costs of real estate was PHP2.9 billion in the first quarter of 2015, representing a decrease of 2% from last year. The decrease in costs improved gross profit margin on real estate sales from 42% in 2014 to 46% in 2015. This was driven by the company’s improving cost efficiencies, tighter monitoring and control of construction costs. Meanwhile, net income margin improved from 18% to 23%.

Overall, SM Prime’s consolidated costs and expenses stood at PHP9.2 billion in the first quarter of 2015 compared with last year’s PHP8.8 billion mainly from the minimal increase of administrative expenses, business taxes and licenses and depreciation and amortization by 4.5% that were attributed to new malls added in the past 12 months.

This year, SM Prime aims to open a total of four new malls. Three of which are located outside of Metro Manila, namely SM City San Mateo in Rizal, SM City Cabanatuan in Nueva Ecija, and SM Seaside City Cebu. In Metro Manila, SM City Sangandaan in Caloocan will also open. SM Prime is also expanding two existing malls, SM City Lipa in Batangas and SM City Iloilo. In total these malls will add almost 800,000 sqm of gross floor area. SM Prime’s residential unit will launch at least five new high rise condominiums with about 11,000 units in total in the cities of Las Piñas, Makati, Pasay and Parañaque, and at the Mall of Asia Complex. For the offices, FiveE-comCenter will be ready for occupancy. In the hotels and convention centers business, SM Prime is set to launch the Conrad Manila hotel by the end of 2015 at the Mall of Asia Complex.

SM Prime is the leading real estate conglomerate in the country with interests in malls, residences, office buildings, resorts, and hotels and convention centers. Its developments in the last 20 years have served as catalysts of economic growth. The company remains committed to deliver innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

SM Prime to spend almost PHP80 billion to support expansion in 2015

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SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, will spend almost PHP80 billion in 2015 to support its aggressive expansion program. The company will increase by 12% its mall space in the Philippines and intends to launch five high rise residential projects with at least 11,000 units. SM Prime will also open an office building on its Mall of Asia Complex property bringing the company’s total office portfolio to five. SM Prime allocated 70% of its capital expenditure for project developments while the rest is for land banking.

“SM Prime’s aggressive expansion programs this year and in the coming years are a testament to management’s confidence that the economic growth of the Philippines will be sustained over the medium term and will eventually have a positive impact on the provinces as growth spreads to these areas. We have increased our budget to over PHP330 billion in the next four years until 2018, reflecting our solid commitment to support this growth,” SM Prime President Hans T. Sy said.

This year’s Philippine mall expansions are geared towards the provincial areas as SM Prime will open SM City San Mateo in Rizal, SM City Cabanatuan in Nueva Ecija, and SM Seaside City Cebu. This will be complemented by opening one Metro Manila mall – SM City Sangandaan in Caloocan. SM Prime is also expanding existing malls SM City Lipa in Batangas and SM City Iloilo. Combined, these malls will add almost 800,000 square meters of gross floor area. These will increase SM Prime’s total mall space by 12% to 7.3 million square meters by end 2015. Among these developments, the biggest is SM Seaside City Cebu, located within the SM Seaside Complex in the South Road Properties (SRP) in Cebu. This is the second “lifestyle city” project of the company following the success of the Mall of Asia (MOA) Complex in Pasay. The SM Seaside Complex will be an integrated property development that combines the construction of malls, offices, an arena, residential buildings, a five-star hotel and convention centers. The complex will feature “The Cube”, a steel sculpture that symbolizes strength, stability, and SM Prime’s continued commitment to excellence.

SM Prime’s residential unit will launch at least five new high rise condominiums with about 11,000 units in total in the cities of Mandaluyong, Quezon City, Taguig and Tagaytay, and at the MOA Complex. SM Prime will also add new towers in five existing projects that will be built to accommodate the increasing demand for housing by most Filipino households and young professionals.

The Commercial Property Group of SM Prime will keep the growth momentum going, based on the continuing demand for better office facilities from the Business Process Outsourcing companies. This year, the FiveE-com Center will be ready for occupancy. The 129,000 square meter-FiveE-com Center promises to be another architectural landmark in the MOA complex with its modern and innovative graphic design that resembles shifting blocks. SM Prime will remain committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.