SMIC Targets Nationwide Expansion

October 2019

SM Investments Corporation (SMIC), the Philippines’ largest conglomerate, has announced plans to ramp up its property and retail projects. SM Prime Holdings, SMIC’s property development arm, reported a significant increase in its total land bank for condominium projects outside Metro Manila to 669 hectares with a plan to launch 15,000-18,000 units by the end of 2019. Meanwhile, its leisure and hospitality unit, which currently has 1,961 rooms under its portfolio, is planning projects in San Fernando, Pampanga and SM Seaside Cebu adjacent to its own existing malls. For its mall expansion in 2020, SM Prime has committed to spend 39% of its total USD 1.6 billion capital expenditure in order to open 7 malls.

SMIC’s SM Retail, which operates SM Markets (food), SM Stores (non-food), and local and international specialty franchises, now has 2,600 stores, 57% of which are located in regional areas. About 80% of the stores were opened outside Metro Manila in 2018.

(Sources: SM Investments Corporation, Business World)

Our Services

Orissa International provides consulting services to companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 distributors, resellers, and system integrators, built through advising and guiding more than 5,000 companies with their market expansion into Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines over the last 25 years.