SM Group to expand presence in provinces
BY The Philippine Star
• 3 min. read
The SM Group wants to expand in more regions across the Philippines to reach more communities, according to SM Investments Corp. president and CEO Frederic DyBuncio.
In 2022, SM Prime opened four malls across different provinces.
These are in SM City Roxas, its first mall in Capiz Province; SM City Tanza in the historic province of Cavite; SM City Sorsogon in the Bicol peninsula as the gateway of Luzon to the Visayas and Mindanao regions; and most recently, SM City Tuguegarao in Cagayan Province, its 82nd mall in the Philippines.
To date, SM Prime has 58 malls in the provincial areas and 24 malls in Metro Manila.
As of the end of last year, SMDC has 18 residential developments in key provincial cities.
In 2022 alone, SMDC launched Vail Residences in Cagayan de Oro, Now Residences in Pampanga, and Zeal Residences in General Trias, Cavite, integrated into SM Prime’s malls and transport terminals for the convenience of communities.
“The potential of the Philippines remains enormous with a young, energetic, service-oriented and still growing population. SM remains optimistic on Philippine growth driven by this market,” DyBuncio said.
Through its hotels and conventions business, SM is also hitching a ride on the country’s huge tourism potential.
At present, SM Hotels and Convention Centers Corp. operates nine world-class properties situated in key cities nationwide, namely Taal Vista Hotel in Tagaytay City, Pico de Loro Beach and Country Club and Pico Sands Hotel in Batangas, Radisson Blu Hotel in Cebu, Conrad Manila in Pasay City, and Park Inn by Park Inn by Radisson hotels in North Edsa, Clark, Davao, Iloilo and Bacolod.