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

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




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.

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.

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.

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.

#SMprime #SMprimeHoldings #SMPH #SMsupermalls #SMcares #SMinvestmentsCorp #SMIC #Ayanventures #CebuHappenings #ManilaHappenings #MindanaoHappenings #TeamHappenings #IJPphotoStories #CONPC #CebuOnlineNewsPressCorps

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