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.
To help provide access to integrated properties, SM Prime Holdings, Inc. is opening four new malls, one in Metro Manila and three in the provincial areas in 2024. SM malls will continue to elevate the mall experience by creating more and building on the innovative attractions introduced in 2023. These include larger-than-life installations and Instagram-mable spots in various malls, concert series in the cinemas, holding e-sports tournaments and unveiling the SM Game Park at the Mall of Asia focused on indoor sports activities, among many others.
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 is slated to officially launch its first Lanson Place property at the Mall of Asia Complex, Pasay City today.
Meanwhile in retail, 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.
Besides the growth of its core businesses, SM is investing in emerging sectors through projects such as its commitment to supporting clean energy sources.
Following its acquisition of the Philippine Geothermal Production Company (PGPC), SM is set to explore new steam fields in Northern and Southern Luzon with the aim to double the company’s current steam production of 300 megawatts within the medium-term.
For its contribution to renewable energy, the Board of Investments (BOI) has awarded Green Lane Certificates to the following PGPC geothermal projects: Daklan Geothermal Power Project in Benguet, Mt. Labo Geothermal Power Project in Quezon, Camarines Norte and Camarines Sur, Mt. Malinao Geothermal Power Project in Camarines Sur and Albayand Baua-Sikaw Geothermal Power Project in Cagayan.
These projects are set to generate around 2,000 jobs during exploration and development, which will boost livelihood in each respective locality.
Projects are endorsed for green lane treatment if they are deemed of strategic importance, entitling them to expedited permit processing.
2GO Group, Inc. remains on course in providing seamless logistics solutions. With the addition of its two new ships setting sail, 2GO will have 10 ROPAX (roll on/ roll off passenger) and one freighter or a total of 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 Luzon, Visayas and Mindanao along with opening more kiosks and collaborations with service providers to offer better customer options, wider network, and quicker delivery times.
“We expect our core businesses to continue its growth trajectory. Additionally, we anticipate that our portfolio investments will contribute significantly to our overall performance in the medium-term as these are well-positioned to capture opportunities in high growth sectors,” added Mr. DyBuncio.
