PASAY CITY, Philippines, April 26,
2024 /PRNewswire/ -- The SM group continues to expand
its presence nationwide to serve more Filipinos and
communities.
"We will continue to invest in growth in the Philippines and we are committed to being
a catalyst for responsible development. We have a young, dynamic,
higher-earning population who will help support and drive economic
activity," said SM Investments Corporation President and Chief
Executive Officer Frederic C.
DyBuncio.
There are many areas in the country which have yet to benefit
from access to modern retailing, formal financial services and
integrated property developments.
"Our strategy is to continue to expand coverage nationwide to
create new markets that improve access to these sectors," he
added.
SM Prime Holdings, Inc. is opening four new malls, one in Metro
Manila and three in the provincial areas in 2024.
SM Development Corporation (SMDC) is planning to roll out 8,000
to 10,000 residential units this year in the northern part of
the Philippines and across Visayas
and Mindanao.
SM Hotels officially launched its first Lanson Place property at the Mall of Asia
Complex, Pasay City.
Alfamart, SM's minimart grocery format, is set to increase its
store expansion by at least 400 stores in 2024.
BDO also continues to expand coverage nationwide with BDO and
BDO Network Bank planning to increase branches by a combined 100 to
120 this year.
Following its acquisition of the Philippine Geothermal
Production Company (PGPC), SM is set to explore new steam fields
with the aim to double the company's current steam production of
300 megawatts within the medium-term.
These projects are set to generate around 2,000 jobs during
exploration and development, which will boost livelihood in each
respective locality.
2GO Group, Inc. added two new ships and will have 11 ships in
its fleet, serving 19 ports of call.
Airspeed, another SM-owned logistics company, is also keen on
expanding its distribution facilities in key cities in the regions
along with opening more kiosks and collaborations with service
providers to offer better customer options, wider network, and
quicker delivery times.
About SM Investments Corporation
SM Investments Corporation is one of the leading Philippine
companies that is invested in market-leading businesses in retail,
banking, and property. It also invests in ventures that capture
high growth opportunities in the emerging Philippine economy.
SM's retail operations are the country's largest and most
diversified, consisting of grocery stores, department stores and
specialty retail stores. SM's property arm, SM Prime Holdings,
Inc., is the largest integrated property developer in the Philippines with interests in malls,
residences, offices, hotels, and convention centers as well as
tourism-related property developments. SM's interests in banking
are in BDO Unibank, Inc., the country's largest bank, and China
Banking Corporation, the fourth largest private domestic bank.
For more information, please
visit www.sminvestments.com
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SOURCE SM Investments Corporation