SM Prime Marks 30th Anniversary with Record-Breaking Income, PHP 100 Billion Investment for 2024

Manila, Philippines - SM Prime Holdings, Inc. (SMPH), the leading integrated property developer in the Philippines, marks its 30th anniversary as a publicly listed company with the announcement of its highest-ever recorded income and a ₱100 billion investment for its partners, stakeholders, and communities they operate in. With eyes set on the future, SM Prime reaffirms its position as a catalyst for economic development and community advancement.

Record-Breaking Performance

During the Annual Stockholders Meeting held on April 23, 2024, SM Prime announced its highest-ever recorded income, reaching PHP40 billion in consolidated net income, marking a 33% increase from 2022. Additionally, the company's revenues surged by 21%, soaring to PHP128.1 billion, a notable growth from the previous year. The consolidated operating income also saw significant growth, rising by 24% to PHP61.3 billion.

The outstanding performance can be attributed to SM Prime's mall business, driving 56% of consolidated revenues and a 30% growth to PHP71.9 billion in 2023. This growth was bolstered by a 24% increase in mall rental income, amounting to PHP61.3 billion. Moreover, the opening of four new malls in 2023 expanded SM's retail presence to 85 malls in the Philippines and 8 malls in China.

Meanwhile, SM Prime's residential business group, led by SM Development Corporation (SMDC), recorded an 8% growth in revenues to PHP43.1 billion in 2023. The residential group's gross profit rose by 15% to PHP25.4 billion, with reservation sales standing at PHP102 billion.

In addition to its mall and residential businesses, SM Prime's other key segments, comprising offices, hotels, and convention centers, contributed 10% of consolidated revenues, reported PHP13.1 billion in revenues in 2023, marking a remarkable 26% increase from the previous year.

Commitment to Shared Growth

At the core of SM Prime's success is its unwavering commitment to shared prosperity in every city where they are present. With a strategic ₱100 billion investment capital expenditure in 2024, SM Prime aims to reinvest in its partners, stakeholders, and communities.

SM Prime aims to continuously expand and develop new places for every Filipino to enjoy. 60% will be dedicated to enhancing its malls, development of new residential properties under SMDC, and construction of new hotels and convention centers. 40% will be directed towards acquiring new properties and coastal developments to pave the way for modern, eco-friendly urbanization.

Commitment to Environmental Sustainability and Disaster Resilience SM Prime has always been committed towards creating a sustainable future. SM Prime continues to work towards its goal of achieving Net Zero carbon emissions by 2040, aligning with the Department of Energy's target of reaching a 35% renewable energy share by 2030. Through partnerships with renewable energy suppliers and organizations like the World Wildlife Fund for Nature (WWF), SM Prime endeavors to reduce its environmental footprint and advocate for sustainable practices in all areas of its operations.

SM Supermalls' SM Cares and SMDC's The Good Guys also remain actively engaged in various community initiatives, such as conducting community disaster preparedness programs, providing support programs for senior citizens and persons with disabilities, and promoting job generation and entrepreneurship through nationwide job fairs and MSME programs. Other initiatives include coastal clean-ups, the donation of school buildings and fire trucks, and the organization of eco-camps for youth.

Jeffrey C. Lim, President of SM Prime Holdings shared, “At SM Prime, we're not just building spaces; we're cultivating lifetimes of progress and shared growth. Our commitment lies in empowering Filipinos to thrive within their neighborhoods, whether through convenient shopping experiences at SM Supermalls, quality living in SMDC homes, or fulfilling work environments in our office properties. We believe that individual success fuels community prosperity, creating opportunities, and driving the nation's growth for many years to come.”

SM Prime remains 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. For more information, visit www.smprime.com.

Carousell Property Awards 2023 Honors Trailblazers in Real Estate

Carousell Property Awards is back once again to recognize the innovators and trailblazers in real estate who have shaped cities and communities for the better. Now on its third year, the annual recognition awards celebrates the extraordinary feats in the world of Philippine real estate.

“The Carousell Property Awards is a monument to the hard work, imagination, and unshakable devotion of people who pursue perfection in each and every brick laid and every space crafted. As we make our way through the tales of tenacity and innovation, let us celebrate you for your achievements that have not only redefined skylines but have also contributed to the nation's progress and broadened horizons,” shared Shine Resurreccion, Carousell Philippines’ market representative.

This year, some of the biggest names in the real estate industry  bagged multiple awards, starting with SM Development Corporation (SMDC) whose condominium properties were given special recognition under the “Development Awards” category: Bloom Residences for Best Wellness Residential, Gem Residences for Best Integrated Work from Home Development, Vail Residences which won Best Affordable Condominium, Twin Residences with Best Mid-Range Condominium, and Gold Residential – Offices won Best Highend Condominium.

In the same category, Dolmar Land was recognized as Best Affordable Housing for its project Northgrove Hills, and Best Mid-Range Housing for Bella Vista. PH1 World Developers was also a big winner as it was awarded Best Green Development and Best Housing Development for its project, North Scapes San Jose Del Monte. Isoc Land Inc. went home with two awards, namely, Best Design Condominium and Value for Investment Metro Manila for its project I-Land Residences Sucat. In Davao, Aeon Luxe Properties won Value for Investment and Best Luxury Condominium. 

Also recognized under the Development Awards category was Cityland Development Corporation which was named Best Lifestyle Development for Pioneer Heights 1; Shang Properties was named Best Luxury Development in Metro Manila for Shang Residences at Wack Wack. Completing the winners in the category is Regus PH which won Best Services Offices. 

Various developers were also recognized for their unwavering efforts and contribution to the Philippine real estate landscape. Under the “Developer Awards” category, SMDC was named the Best Developer Philippines, Empire East Land Holdings won Best Developer Metro Manila, Aboitiz Land Inc. was recognized as Best Developer Visayas, Aeon Luxe Properties won Best Developer Mindanao, Eton Properties won Best Mixed Used Developer, while RLC Residences was named Best Sustainable Developer

Under the “Brokerage Awards” category SN Homefinders won Highly Recommended Real Estate Agency while Nel Realty won Most Trustworthy Real Estate Agency. Lastly, BPI was also given a special award as the Highly Recommended Bank for Home Loans.

The awards ceremony concluded with heartfelt messages from Carousell property category team leader Melizza Hernandez and Bernadette Pambuan: “For many years, Carousell has been the preferred online platform of real estate developers, agents and customers searching for property listings. It is because of their unwavering trust in us that we continue to be the leading buying and selling platform in the country.”

Carousell Property offers over 120,000 sale and rental listings from both developers and direct home owners across almost 500 cities and suburbs across the country that you can search for in the comfort of your home. The platform also curates complementary categories such as furniture and moving services, so you can find all that you need in one app.

To know more about Carousell, visit https://www.carousell.ph/

Collaboration: A Key in Creating Sustainable Agri-Enterprises

Limited market information and market access are two major obstacles to increased smallholder farmers’ income. According to studies, farmers in grassroot communities often lack access to profitable, value-added markets. In the absence of critical supporting functions, such as infrastructure and service provision – farmers struggle to transform their traditional subsistence farms into a feasible commercially oriented production. Buyers, on the other hand, such as wholesalers, find it difficult to get the quantity and quality of produce that they need for processing on a timely basis. Because of this challenge, SM Foundation collaborated with various government agencies, and engaged various SM business units such as the SM Development Corp. (SMDC), SM Supermalls and SM Markets to ensure that local farmers under the Kabalikat Sa Kabuhayan (KSK) program have venues where they can sell their produce amid the COVID-19 pandemic.

From training KSK participants in practicing sustainable farming technologies via technology transfer and product development, SMFI, together with various SM business units used the power of collaboration to create farm-market linkage - which intends to create a powerful driver of rural poverty reduction.

Team social good

The Good Guys Market is a weekend market set up in SMDC properties to connect small-scale farmers directly with consumers—condo residents. This initiative links around 26,000 small-scale farmers directly with consumers.

Together with SM Supermalls, SMFI launched the Green Lane initiative. Led by the wives of the KSK farmers, the social enterprise offers a wide variety of quality yet affordable indoor and landscape plants which cater to every enthusiast’s preference. In addition, the team also launched the KSK Farmers’ Market Day to provide farmers with market exposure in select SM Malls nationwide.

Meanwhile, SMFI also partnered with SM Markets in creating market for onion farmers. Through the partnership, SMFI was able to establish specialized onion pop-up booths creating a stable market for small scale onion farmers.

Millions of smallholder farmers are seeking ways to improve the productivity of their farms and to improve their market performance. Modern farming technologies, paired with market linkage, such as the SM KSK, plays a vital role in improving the livelihood of small-scale farmers and their families.

SM Foundation’s Kabalikat Sa Kabuhayan (KSK) is SMFI’s Social Good program on sustainable agriculture that intends to uplift the lives of Filipinos in grassroot communities through sustainable agriculture via technology transfer, product development and farm-market linkage. To date, the program has trained more than 28,500 farmers from more than 900 cities/municipalities nationwide.

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SMDC’s Shore Residences: A Confluence Between the Paradise of your Dreams and the most Lucrative Property in your Portfolio

Picture a coastal-inspired home that’s more akin to a five-star vacation resort than your regular concrete structure — a home where you are welcomed everyday with a grand lobby, lush greeneries, and multiple turquoise-watered swimming pools; a home where your sights are filled with the blues of a majestic bay, your ears with the sounds of calm waves, and your heart with anticipation for a vibrant food, commerce, and entertainment hub. 

Whatever scene you imagined is just a small taste of what life is like at the Shore Residences Complex, a master-planned mega district by SM Development Corporation (SMDC) composed of three residential developments.

Shore Residences combines resort-style living with all the conveniences and luxuries an address within the Mall of Asia (MOA) complex could offer. Dive a little deeper and find out why a lifestyle upgrade or an investment in this prime location is an opportunity you just cannot miss.

Welcome to paradise

A life in Shore Residences is a high life, primarily because it’s a life of endless summers. The grand lobby, for instance, embodies a tropical design that almost literally transports you to the seaside.

The vast entrance hall is defined by seashell white marble flooring, whimsical curves and textures, and accents of colors of the ocean. With cabana-like sofas, premium woven furniture, and coastal embellishments, one may easily mistake Shore Residences’ lobby as the lobby of a five-star resort.

Wrapping up your everyday vacations, of course, are the hotel-like services in the complex. Like any other SMDC development, Shore Residences boasts of hotel-like services, geared towards curating an affluent lifestyle for residents. The cordial welcome of the doorman, the tireless hospitality of the front desk staff, and the well-appointed interiors at Shore Residences all come together to ensure you come home to a paradise you can call your own.

Where luxury lives

Luxury lives in every corner at Shore Residences with a plethora of in-water and out-of-water activities offered in the complex.

From charming, wharf-inspired decks, to riverfront lounge pools, to palm tree courtyards and beach entry pools that come with a feature island— Shore Residences is the pinnacle of “resort-inspired” SMDC developments. Residents of all ages can enjoy the several aquatic activities in the complex that not only serve as bonding opportunities for the family, but are also scientifically-proven as beneficial to one’s mental health.

If you don’t fancy water-based drills, there are plenty of scenic areas for you to get your endorphins fix around the mega district. Beautifully-landscaped gardens abound the complex that give you vast, open spaces to walk, run, or meditate. Shore Residences also has fully-equipped indoor gyms, jogging trails, and a basketball court where you could tick off your fitness goals one by one.

When it comes to social activities, on the other hand, you and your loved ones could gather and celebrate the most momentous occasions in the opulent function rooms in the development, with panoramic views of the resort-inspired amenities as your backdrop.

 

An idyllic time for maximum returns

As the country recovers from the global health crisis, several real estate experts see encouraging forecasts in the residential property sector. This shared sentiment is a clear sign that there might not be a better time to enter the market than today.

Jones Lang LaSalle (JLL) Philippines, for one, sees increasing demand from professionals looking for homes closer to places of work. This bodes well for investors of Shore Residences, should they capitalize on the steady rental market that many business hubs in the MOA Complex help provide. 

Santos Knight Frank, on the other hand, see new infrastructure developments as the key to success when it comes to auspicious returns in real estate investment. 

A testament to this is a research that discusses how from the period of 2008 to 2019, developments surrounding the MOA Complex have increased in value four times in just ten years’ time. Imagine what a decade holds for you if you invest in Shore Residences now?

Whether you’re trying to find a home where your kids can grow with life’s best comforts, or you’re in need of a vacation space that’s not too far from the hustle and bustle of the city, or you’re looking for a sound investment opportunity that will yield returns for years to come, there’s a little bit of something for everyone in Shore Residences. 

To learn more about SMDC’s Shore Residences, follow SMDC on Facebook, Instagram, YouTube, and Twitter.

About SM Development Corporation (SMDC)

SMDC is the largest and fastest growing real estate developer in the Philippines. Championing perfectly integrated commercial and residential environments, SMDC provides every Filipino and its investors access to a sustainable and attainable cosmopolitan lifestyle. Through masterfully planned and award-winning, complete developments, SMDC has been providing the dream homes of Filipinos in Metro Manila and other key cities in the Philippines