SM Prime Holdings
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|Type||Public company (PSE: SMPH),|
|Founded||Manila, Philippines (1958)|
|Headquarters||Pasay City, Philippines|
|Number of locations||47 malls (as of May 17, 2013)|
|Key people||Henry Sy, Sr. (Founder, Chairman and CEO)|
|Parent||SM Investments Corporation|
|Website||SM Prime Holdings|
SM Prime Holdings, inc. (PSE: SMPH) or SM Prime is the parent company of the SM Group's shopping malls. It is the largest shopping mall and retail operator in the Philippines. It was incorporated on 6 January 1994 to develop, conduct, operate and maintain the SM commercial shopping centres and all businesses related thereto, such as the lease of commercial spaces within the compound of shopping centres. It later went public on July 5, 1994 and subsequently grew to become the largest company listed on the Philippine Stock Exchange in terms of revenue. As of 2007, SM Prime Holdings became one of the largest shopping mall chains in the world. The company's main sources of revenues include rental income from mall and food courts, cinema ticket sales and amusement income from bowling and ice-skating.
Currently, it has 46 operating malls totalling a gross floor area of 5.5 million square metres located in Metro Manila, Baguio City, Angeles City, Bacolod City, Olongapo City, Batangas, Bulacan, Cavite, Laguna, Pampanga, Tarlac, Lucena City, Pangasinan, Rizal, Cagayan de Oro City, Cebu City, Metro Davao, Iloilo City, General Santos City, Naga City and Cauayan City.
On April 2, 2008, SM Investments Corp. (the parent company to SM Prime) announced that it would participate in a $1 billion casino project in Manila. The 40-hectare Bagong Nayong Pilipino-Manila Bay Integrated Tourism Project consists of a casino, hotels, shopping malls and other entertainment facilities. In July 2012, SM partnered with Lawrence Ho of Macau-based Melco International Development, the son of casino magnate Stanley Ho, and James Packer, the son of the late Australian media giant, Kerry Packer to proceed with the new casino development, which is expected to capitalize on a growing middle class and increased tourism.
The roots of SM date back to the 1950s when entrepreneur Henry Sy, Sr. established a shoe store in Carriedo, the then-central business district of Manila. His aggressive and adamant strategy helped him gain large profits within a few years and he later expanded his business in Quiapo to become a fully functioning department store named "Shoemart", specialising in the sale of shoes, the sector of which the store originally was. Shoemart was later abbreviated to SM and became commonly known as "SM" or "Shoemart" by the locals. The SM in Carriedo was later abandoned and moved in the present site in Quiapo near the Manila LRT Yellow Line. The old site was demolished in 1982.
The first SM Supermall, SM City North EDSA, was opened in 1985 and started the Philippine "malling" phenomenon. Sy observed the malling hobby of Filipinos and opted to make every SM Supermall like an amusement park. All SM Supermalls contain at least one or more amusement facilities, such as cinemas, bowling alleys, convention centres and game arcades.
Located in several cities and areas in Metro Manila, as well as major provincial cities, each SM is easily accessible and situated by places of public interest (churches, schools, major roads and highways, etc.). SM opened its first department store outside Metro Manila (SM Delgado) in Iloilo City in 1979 and was relaunched in 2004.
In 2006, SM opened the SM Mall of Asia.
In 2013, SM opened the SM Aura Premier.
|Name||Opening||Floor area (m²)||Location|
|SM City Xiamen||December 13, 2001||126,000||2F, SM City, NO468 Jiahe Road, Xiamen City, Fujian, China|
|SM City Jinjiang||November 26, 2005||170,000||Fu PU SM International Square, Jinjiang City, Fujian, China|
|SM City Chengdu||October 20, 2006||176,000||SM City (CHENGDU) NO.29, Section.2 of 2nd Ring Road, Chengdu City, Sichuan, China|
|SM Lifestyle Center||October 30, 2009||109,947||3F, SM Lifestyle Center, NO468 Jiahe Road, Xiamen City, China|
|SM City Suzhou||September 23, 2011||69,275||No. 1109, Yuehu Road, Wuzhong District, Suzhou City, Jiangsu China|
|SM City Chongqing||December 14, 2012||146,323||No. 148 Songshi Avenue, Ranjiaba, Yubei District, Chongqing City, China 401120|
Branch in Pacific Islands
- SM Guam
Standalone department stores
The SM standalone department stores are some of the first department stores before it grew into a big business.
|SM Quiapo (Clearance Store)||November 1972||Carriedo St., Quiapo, Manila|
|SM Makati (Flagship Store)||September 1975||Ayala Center cor. EDSA, Makati City, Metro Manila|
|SM Cubao||October 1978||Araneta Center, Cubao, Quezon City, Metro Manila|
|SM Delgado (Iloilo)||May 1979||Valeria Street cor. Delgado Street, Iloilo City, Iloilo|
|SM Harrison Plaza||October 1984||Adriatico St., Malate, Manila|
- SM Supermalls
- List of shopping malls in the Philippines
- List of largest shopping malls in the Philippines