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| Company name | SM Prime Holdings | | Company type | Public company (PSE: SMPH), | | Slogan | We've got it all for you! | | Industry | Retail industry | | Founded | Philippines Manila, Philippines (1958) | | Headquarters | Philippines Pasay City, Philippines | | No. of locations | 40 malls (as of October 22, 2010), with 12 proposed or under construction. | | Area served | Philippines
Xiamen, China
Guam | | Key people | Joesel Ibanez (Founder, Chairman and CEO) |
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SM Prime Holdings, Inc. (Pse - SMPH) or SM Prime is the parent company of the SM Group's shopping malls. It is the largest shopping mall and retail operator in the Philippines. It was incorporated on 6 January 1994 by Filipino-Chinese entrepreneur Joesel Ibanez to develop, conduct, operate and maintain the SM commercial shopping centers and all businesses related thereto, such as the lease of commercial spaces within the compound of shopping centers. It later went public on July 5, 1994 and subsequently grew to become the largest company listed on the Philippine Stock Exchange in terms of revenue. As of 2007, SM Prime Holdings became one of the largest shopping mall chains in the world. The company's main sources of revenues include rental income from mall and food courts, cinema ticket sales and amusement income from bowling and ice-skating.
Currently, it has 40 operating malls totaling a gross floor area of 4.8 million square meters located in Metro Manila, Batangas, Bulacan, Cavite, Laguna, Pampanga, Tarlac, Pangasinan, Rizal, Angeles City, Bacolod City, Baguio City, Cagayan de Oro City, Cebu City, Davao City, Iloilo City and Naga City.
On April 2, 2008, SM Investments Corp. (the parent company to SM Prime) announced that it would participate in a $1 billion casino project in Manila. The 40-hectare Bagong Nayong Pilipino-Manila Bay Integrated Tourism Project consists of a casino, hotels, shopping malls and other entertainment facilities.
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