SM 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.
Shopping mall operator SM Prime Holdings Inc. on Thursday said is investing up to P33 billion this year in its commercial property businesses, driven by expectations of a sustained recovery in consumer demand and a GDP growth of over 6 percent.
Election-related expenditures, a cyclical driver of economic expansion in the country, are anticipated to stimulate aggregate demand and spending in various sectors, particularly retail. SM Prime’s extensive network of 87 shopping malls is strategically positioned to capture this surge, bolstered by strong consumer confidence and increased foot traffic, the company said.
Driven by robust demand and gains in lease take-up of existing inventory, SM Offices is investing P6 billion to develop new office towers and work spaces, which includes Six E-Com Center, a two-tower, office complex within the Mall of Asia Complex. Six E-Com Center is designed to cater to technology-driven industries and business process outsourcing firms.
“This recognition underscores SM Investments’ leadership in the capital markets and the strong confidence of global investors in the company’s financial strength,” the company said.
INVESTMENT REAL ESTATE SM PRIME HOLDINGS RETAIL ECONOMY
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 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 »
Meta plans to invest $60-B or more in AI this yearSAN FRANCISCO, California — Meta chief executive Mark Zuckerberg on Friday said the tech giant plans to invest at least $60 billion in artificial intelligence in 2025, aiming to lead in the technology.
Read more »
NB Holdings launches Project Cosmos with delaware PhilippinesPNB Holdings Corp. (PHC), a subsidiary of Philippine National Bank (PNB), has officially launched the second phase of its GROW with SAP S/4HANA Public
Read more »