SM Prime Hits P1 Trillion Market Value
Manila, Philippines—SM Prime Holdings Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, reaches P1 Trillion market value this week on the back of favorable market outlook. This makes SM Prime the first Philippine company to reach this milestone in the market.
“SM Prime acknowledges the investment community’s unwavering support. This is a great moment for us to share this success as we continue to deliver our commitment to our shareholders,” said SM Prime Chief Finance Officer John Ong in a statement.
This historic feat is due to the integration of all the property businesses under SM Prime in 2013, which has enabled SM Prime to realize synergies among its business units and increase efficiencies in operations and revenue in enhanced shareholder value. It has also allowed the company to pursue larger projects, from reclaiming land to long-term integrated developments.
SM Prime remains committed to its role as a catalyst for economic growth by delivering innovative and sustainable lifestyle cities that enrich the quality of life of millions of Filipinos. (Press Release)