SM Prime Holdings Inc. (SMPH) is planning a significant investment of up to P33 billion in 2025 to expand its commercial property portfolio, encompassing malls, hotels, and offices. The company anticipates a continued rebound in consumer demand and the domestic economy, driven by moderating inflation, easing interest rates, and election-related spending. SMPH has allocated P21 billion this year for mall expansions, including new developments and redevelopments, and P6 billion each for the hospitality and meetings, incentives, conferences, and exhibitions (MICE) sectors, as well as for office development. The investments reflect SMPH's commitment to growth, attracting businesses, and meeting evolving consumer demands.
Property developer SM Prime Holdings Inc. plans to invest up to P33 billion in 2025 to expand its commercial property businesses including malls, hotels and offices.
“Our malls should do well and our office, hotel and convention centers could provide additional upside,” Lim said.SMPH allocated about P21 billion this year to expand the gross floor area of shopping malls. This involves adding 205,400 square meters through new developments and redeveloping 124,488 square meters of existing space.
SM Offices will also invest P6 billion to develop new office towers and workspaces. These include the Six E-Com Center—a two-tower, Grade A office complex within the Mall of Asia Complex in Pasay City. This office building will be designed to cater to technology-driven industries and business process outsourcing firms.
INVESTMENT REAL ESTATE MALLS HOTELS OFFICES
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SM Prime Holdings to Invest P33 Billion in Commercial PropertiesSM Prime Holdings Inc. plans to invest up to P33 billion this year in its commercial property businesses, fueled by positive economic forecasts. The company expects a sustained recovery in consumer demand and GDP growth of over 6 percent, driven by moderating inflation, easing interest rates, and election-related spending. SM Prime will focus on expanding its mall network, developing new hospitality and convention facilities, and building new office spaces.
Read more »
SM Prime to Invest P33 Billion in 2025 to Expand Commercial Property BusinessesProperty developer SM Prime Holdings, Inc. (SMPH) plans to invest up to P33 billion in 2025 to expand its commercial property businesses including malls, hotels, and offices. The investment aims to capitalize on expected economic growth and increased consumer demand. About P21 billion will be allocated to expand the gross floor area (GFA) of SM Prime's malls, while P6 billion each will be invested in the hospitality and meetings, incentives, conferences, and exhibitions (MICE) sectors, and SM Offices.
Read more »
SM Prime Holdings to Issue P25 Billion in BondsSM Prime Holdings Inc. (SMPH) is planning to issue P25 billion worth of fixed retail bonds in February 2025. The proceeds from the offering will be used for debt refinancing and capital expenditures for the expansion of the group's portfolio.
Read more »
Cebu Province Donates P33 Million to Cebu City for Sinulog FestivalGovernor Gwendolyn Garcia handed over a P33 million check to Cebu City Mayor Raymond Alvin Garcia on Friday, January 17, 2025, for the 2025 Sinulog Festival. This donation comes after previous questions raised by the Cebu City Council regarding the province's financial assistance to the Sinulog Foundation Inc. (SFI) in previous years. Governor Garcia emphasized the province's commitment to supporting the festival and the city's efforts to bring it back to the Cebu City Sports Center (CCSC). Mayor Garcia expressed gratitude for the province's support. Meanwhile, 18 Cebu City-based contingents have received their subsidies from the city government, and both city and provincial contingents have received financial support. The Sinulog Foundation Inc. also distributed financial assistance to various agencies involved in the festival's preparation and security.
Read more »
NFA to Release Rice Buffer Stock at P33 per Kilo Amid Food Security EmergencyThe National Food Authority (NFA) will release rice buffer stock at a lower price of P33 per kilo to local government units, Kadiwa stores, and government entities following the food security emergency declaration. This move aims to help stabilize rice prices and create space for the upcoming harvest season.
Read more »
Maybank Favors Mall Landlords Over Residential Developers in Philippine Property SectorMaybank Investment Banking Group has identified SM Prime Holdings Inc. (SMPH) and Robinsons Land Corp. (RLC) as its top picks for the Philippine property sector in 2024, citing the strong performance of their malls. Despite maintaining a neutral stance on the overall sector due to perceived risks, Maybank believes mall revenues will continue to drive growth for these companies, outperforming residential developers.
Read more »