SM Prime Holdings, Inc. (SMPH) is a Filipino integrated property developer and a public subsidiary of

SM Investments Corporation SM Investments Corporation (SMIC), also known as SM Group, is a Filipino conglomerate with interests in various sectors, mostly in shopping mall development and management, retail, real estate development, banking, and tourism. Founded by He ...

. It was incorporated on January 6, 1994, to develop, conduct, operate, and maintain the SM commercial shopping centers and all businesses related thereto, such as the lease of commercial spaces within the compound of shopping centers. It went public on July 5, 1994, and subsequently grew to become the largest company listed on the

Philippine Stock Exchange The Philippine Stock Exchange, Inc. (; ) is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Including previous forms, the exchange has ...

in terms of revenue. The company's main sources of revenues primarily include rental income from mall and food courts, as well as from cinema ticket sales and amusement income.

History

The roots of SM date back to the 1950s when entrepreneur Henry Sy, Sr. established a shoe store at Carriedo Street in

Quiapo Quiapo may refer to: * Quiapo, Chile, a location in Arauco Province *Quiapo, Manila, a district in the Philippines ** Quiapo Church The Minor Basilica and National Shrine of Jesus Nazareno (), commonly known as Quiapo Church and canonically ...

Manila Manila, officially the City of Manila, is the Capital of the Philippines, capital and second-most populous city of the Philippines after Quezon City, with a population of 1,846,513 people in 2020. Located on the eastern shore of Manila Bay on ...

. His store was established as ShoeMart, which was originally located at Carlos Palanca Sr. Street. His aggressive and adamant strategy helped him gain large profits within a few years and he later expanded his business to become a fully functioning

department store A department store is a retail establishment offering a wide range of consumer goods in different areas of the store under one roof, each area ("department") specializing in a product category. In modern major cities, the department store mad ...

named ShoeMart, which specializes in the sale of shoes, the sector of which the store originally was. ShoeMart was abbreviated into SM, the name which became commonly known by the locals. The abbreviation SM has become an

orphan initialism An acronym is a type of abbreviation consisting of a phrase whose only pronounced elements are the initial letters or initial sounds of words inside that phrase. Acronyms are often spelled with the initial letter of each word in all caps with ...

. The first ShoeMart outlet was abandoned and the department store moved to a new site along the nearby Carriedo Street. The old site was demolished in 1982 and was turned into its Clearance Outlet. The first SM Mall, the

SM North EDSA SM North EDSA (formerly known as The SM Center North EDSA, The SM City North EDSA and also known as SM City North EDSA) is a large shopping mall located in Quezon City, Metro Manila, Philippines. It is the first SM Supermalls, SM Supermall in ...

, was opened in 1985. Followed by the establishment of a second mall, the SM Centerpoint, in 1990. Since then, the company has expanded by establishing malls nationwide. On May 17, 2013, SM opened the

SM Aura Premier SM Aura (; formerly SM Aura Premier), is a large upscale shopping mall located at 26th Street corner McKinley Parkway, Bonifacio Global City, Barangay Fort Bonifacio, Taguig, Philippines, owned by SM Prime Holdings, the country's largest mall d ...

. The same year, the company announced a merger with SM Land, which owns SM Development and Commercial Properties Group. As a result, upon approval by

Securities and Exchange Commission The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market m ...

, SM Prime is one of the largest property companies in the Southeast Asia region, competing with Gokongwei-led Robinsons Land (which owns

Robinsons Malls Robinsons Malls is one of the List of shopping malls in the Philippines, largest shopping malls and retail operators in the Philippines. It was incorporated on September 9, 1997, by entrepreneur John Gokongwei, John Gokongwei Jr. to develop, c ...

and Tan-led Megaworld Corporation).

Subsidiaries

SM Supermalls

SM Supermalls is a chain of

shopping malls A shopping mall (or simply mall) is a large indoor shopping center, usually anchored by department stores. The term ''mall'' originally meant a pedestrian promenade with shops along it, but in the late 1960s, it began to be used as a generi ...

with over 88 malls in the

Philippines The Philippines, officially the Republic of the Philippines, is an Archipelagic state, archipelagic country in Southeast Asia. Located in the western Pacific Ocean, it consists of List of islands of the Philippines, 7,641 islands, with a tot ...

, and 8 in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

as of August 2024. According to the company, the malls attract an average foot traffic of 3.5 million daily and has over 5,000 tenant partners.

SM Offices

SM Offices is SM Prime's commercial development arm responsible for the development various commercial properties and office tower developments across the country. Their key office properties include the E-Com Center towers at the

SM Mall of Asia SM Mall of Asia (also abbreviated as SM MoA, or simply Mall of Asia or MoA; ), is a large shopping mall in the Philippines, located at Bay City, Metro Manila, Bay City, Pasay, Metro Manila within the SM Central Business Park, a reclaimed area w ...

Complex, the

Mega Tower The Mega Tower is a 50-storey high-rise office building located within the SM Megamall complex at the Ortigas Center in Mandaluyong, Metro Manila. Located along the southwestern area of the complex, the tower serves as a part of the complex's dev ...

located beside

SM Megamall SM Megamall (formerly as SM Megamall Ortigas and colloquially known as Megamall), is a shopping mall located in Ortigas Center, Mandaluyong, Metro Manila, Philippines. Opened in 1991, it is the third SM Supermall, after SM North EDSA and SM Ci ...

, the North Towers at the

Complex, the SM Fairview Towers at the

SM City Fairview SM City Fairview is a large shopping mall in the Philippines owned and operated by SM Prime Holdings. It is located along Quirino Highway (Quezon City), Quirino Highway and Regalado Highway, Quezon City, Metro Manila. It is the third SM Superma ...

Complex, and the SM Aura Tower at the

SM Aura SM Aura (; formerly SM Aura Premier), is a large upscale shopping mall located at 26th Street corner McKinley Parkway, Bonifacio Global City, Barangay Fort Bonifacio (barangay), Fort Bonifacio, Taguig, Philippines, owned by SM Prime, SM Prime Ho ...

complex.

SM Development Corporation (SMDC)

SM Development Corporation (SMDC) is a wholly-owned subsidiary and the real estate arm of SMPH. Its properties are strategically situated in key areas across

Metro Manila Metropolitan Manila ( ), commonly shortened to Metro Manila and formally the National Capital Region (NCR; ), is the capital region and largest List of metropolitan areas in the Philippines, metropolitan area of the Philippines. Located ...

specifically the Central Business Districts of Mall of Asia Complex,

Makati Makati ( ; ), officially the City of Makati (), is a highly urbanized city in the National Capital Region of the Philippines, known for being one of the leading financial centers in the country. As of 2013, the city has the highest concent ...

, Ortigas,

Taguig Taguig (), officially the City of Taguig (), is the List of cities in the Philippines, fifth-most populous city in the Philippines situated on the eastern shores of Metro Manila, the national capital region. It is a center for culture, finance ...

Quezon City Quezon City (, ; ), also known as the City of Quezon and Q.C. (read and pronounced in Filipino language, Filipino as Kyusi), is the richest and List of cities in the Philippines, most populous city in the Philippines. According to the 2020 c ...

, Manila,

Pasay Pasay, officially the City of Pasay (; ), is a Cities of the Philippines#Legal classification, highly urbanized city in the Metro Manila, National Capital Region of the Philippines. According to the 2020 Philippine census, 2020 census, it has a ...

Parañaque Parañaque, officially the City of Parañaque (, ), is a Cities of the Philippines#Legal classification, highly urbanized city in the Metro Manila, National Capital Region of the Philippines. According to the 2020 census, it has a population of ...

and

Las Piñas Las Piñas (, officially the City of Las Piñas (), is a Cities of the Philippines#Legal classification, highly urbanized city in the Metro Manila, National Capital Region of the Philippines. According to the 2020 census, it had a population of ...

, as well as nearby provinces like

Cavite Cavite, officially the Province of Cavite (; Chavacano: ''Provincia de Cavite''), is a Provinces of the Philippines, province of the Philippines located in the Calabarzon region. On the southern shores of Manila Bay and southwest of Manila, i ...

Bulacan Bulacan, officially the Province of Bulacan (; ; ; ), is a Provinces of the Philippines, province in the Philippines located in the Central Luzon Regions of the Philippines, region. Its capital is the city of Malolos. Bulacan was established on ...

Pampanga Pampanga, officially the Province of Pampanga (; ; ), is a province in Central Luzon in the Philippines. Lying on the northern shore of Manila Bay, Pampanga is bordered by Tarlac to the north, Nueva Ecija to the northeast, Bulacan to the east, ...

and in Visayan locations

Iloilo Iloilo ( ; ), officially the Province of Iloilo (; ; ; ), is a province in the Philippines located in the Western Visayas region. Its capital and largest city is Iloilo City, the regional center of Western Visayas and politically independen ...

and

Bacolod Bacolod, officially the City of Bacolod (; ; ; ), is a Cities of the Philippines#Legal classification, highly urbanized city in the Negros Island Region in the Philippines. With a total of 600,783 inhabitants as of the 2020 census, it is th ...

. Back in 2020, SMDC bagged the most-coveted Best Developer of the Year award in the annual PropertyGuru Asia Property Awards alongside other recognitions:

External links

*
Website

References

{{PSEi Real estate companies established in 1958 Real estate companies of the Philippines Shopping center management firms Companies listed on the Philippine Stock Exchange Companies based in Pasay Philippine companies established in 1958 Companies in the PSE Composite Index Family-owned companies of the Philippines