SM Prime Holdings
Overview
 
SM Prime Holdings, Inc. or SM Prime is the parent company of the SM Group's shopping malls. It is the largest shopping mall
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...

 and retail operator in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

. It was incorporated on 6 January 1994 to develop, conduct, operate and maintain the SM commercial shopping centres and all businesses related thereto, such as the lease of commercial spaces within the compound of shopping centres. It later went public on July 5, 1994 and subsequently grew to become the largest company listed on the Philippine Stock Exchange
Philippine Stock Exchange
The Philippine Stock Exchange is the national stock exchange of the Philippines. It is one of the oldest stock exchanges in Southeast Asia, having been in continuous operation since its inception in 1927...

 in terms of revenue.
Encyclopedia
SM Prime Holdings, Inc. or SM Prime is the parent company of the SM Group's shopping malls. It is the largest shopping mall
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...

 and retail operator in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

. It was incorporated on 6 January 1994 to develop, conduct, operate and maintain the SM commercial shopping centres and all businesses related thereto, such as the lease of commercial spaces within the compound of shopping centres. It later went public on July 5, 1994 and subsequently grew to become the largest company listed on the Philippine Stock Exchange
Philippine Stock Exchange
The Philippine Stock Exchange is the national stock exchange of the Philippines. It is one of the oldest stock exchanges in Southeast Asia, having been in continuous operation since its inception in 1927...

 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 41 operating malls totalling a gross floor area of 4.5 million square metres located in Metro Manila
Metro Manila
Metropolitan Manila , the National Capital Region , or simply Metro Manila, is the metropolitan region encompassing the City of Manila and its surrounding areas in the Philippines...

, Batangas
Batangas
Batangas is a first class province of the Philippines located on the southwestern part of Luzon in the CALABARZON region. Its capital is Batangas City and it is bordered by the provinces of Cavite and Laguna to the north and Quezon to the east. Across the Verde Island Passages to the south is the...

, Bulacan
Bulacan
Bulacan , officially called the Province of Bulacan or simply Bulacan Province, is a first class province of the Republic of the Philippines located in the Central Luzon Region in the island of Luzon, north of Manila , and part of the Metro...

, Cavite
Cavite
Cavite is a province of the Philippines located on the southern shores of Manila Bay in the CALABARZON region in Luzon, just 30 kilometers south of Manila. Cavite is surrounded by Laguna to the east, Metro Manila to the northeast, and Batangas to the south...

, Laguna, Pampanga
Pampanga
Pampanga is a province of the Philippines located in the Central Luzon region. Its capital is the City of San Fernando, Pampanga. Pampanga is bordered by the provinces of Bataan and Zambales to the west, Tarlac and Nueva Ecija to the north, and Bulacan to the southeast...

, Tarlac
Tarlac
Tarlac is a landlocked province of the Philippines located in the Luzon Island. Its capital is Tarlac City. Tarlac borders Pampanga to the south, Nueva Ecija to the east, Pangasinan to the north, and Zambales to the west...

, Lucena City
Lucena City
Metro Lucena has an estimated population of 700,000 which is mostly concentrated in the flat south-central portion of Quezon, which includes the cities of Lucena and Tayabas, Sariaya, Candelaria, Lucban & Pagbilao . The people are often characterized as friendly and hardworking...

, Pangasinan
Pangasinan
Pangasinan is a province of the Republic of the Philippines. The provincial capital is Lingayen. Pangasinan is located on the west central and peripheral area of the island of Luzon along the Lingayen Gulf, with the total land area being 5,368.82 square kilometers . According to the latest census,...

, Rizal
Rizal
Rizal is a province located in the CALABARZON , just 16 kilometers east of Manila. The province was named after the country's national hero, José Rizal. Rizal Governor Casimiro A. Ynares III on June 17, 2008 announced the transfer of the Capitol from Pasig. Its P 270-million capitol building,...

, Angeles City
Angeles City
The City of Angeles , located within the province of Pampanga in the Philippines, is locally classified as a first-class, highly-urbanized city. Its name is derived from El Pueblo de los Ángeles in honor of its patron saints, Los Santos Ángeles de los Custodios , and the name of its founder, Don...

, Bacolod City
Bacolod City
The City of Bacolod , is a highly urbanized midsize Philippine city. It is the capital of the Negros Occidental province. Having a total of 499,497 inhabitants as of August 1, 2007, it is the most populous city in the Western Visayas Region. It is currently ranked as the 17th most populous city in...

, Baguio City
Baguio City
The City of Baguio is a highly urbanized city in northern Luzon in the Philippines. Baguio City was established by Americans in 1900 at the site of an Ibaloi village known as Kafagway...

, Cagayan de Oro City
Cagayan de Oro City
Cagayan de Oro; , officially the City of Cagayan de Oro, is the provincial capital city of the province of Misamis Oriental in the Philippines...

, Cebu City
Cebu City
The City of Cebu is the capital city of Cebu and is the second largest city in the Philippines, the second most significant metropolitan centre in the Philippines and known as the oldest settlement established by the Spaniards in the country.The city is located on the eastern shore of Cebu and was...

, Davao City
Davao City
The City of Davao is the largest city in the island of Mindanao in the Philippines. Its international airport and seaports are among the busiest cargo hubs in the Philippines....

, Iloilo City
Iloilo City
The City of Iloilo is a highly urbanized city in the Philippines and the capital city of Iloilo province. It is the regional center of the Western Visayas, as well as the center of the Iloilo-Guimaras Metropolitan Area...

 and Naga City
Naga City
The City of Naga is a first class independent component city in the Philippines...

.

On April 2, 2008, SM Investments Corp. (the parent company to SM Prime) announced that it would participate in a $1 billion casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...

 project in Manila
Manila
Manila is the capital of the Philippines. It is one of the sixteen cities forming Metro Manila.Manila is located on the eastern shores of Manila Bay and is bordered by Navotas and Caloocan to the north, Quezon City to the northeast, San Juan and Mandaluyong to the east, Makati on the southeast,...

. The 40-hectare Bagong Nayong Pilipino-Manila Bay
Manila Bay
Manila Bay is a natural harbor which serves the Port of Manila , in the Philippines.The bay is considered to be one of the best natural harbors in Southeast Asia and one of the finest in the world...

 Integrated Tourism Project consists of a casino, hotels, shopping malls and other entertainment facilities.

History

The roots of SM date back to the 1950s when entrepreneur Henry Sy, Sr.
Henry Sy
Henry Sy is a Chinese Filipino businessman and the founder of SM Group and chairman of SM Prime Holdings, the largest retailer and shopping mall operator in the Philippines. He earned his Associate of Arts degree in Commercial Studies at Far Eastern University in 1950...

 established a shoe store in Carriedo, the then-central business district of Manila
Manila
Manila is the capital of the Philippines. It is one of the sixteen cities forming Metro Manila.Manila is located on the eastern shores of Manila Bay and is bordered by Navotas and Caloocan to the north, Quezon City to the northeast, San Juan and Mandaluyong to the east, Makati on the southeast,...

. His aggressive and adamant strategy helped him gain large profits within a few years and he later expanded his business in Quiapo
Quiapo, Manila
Quiapo is a district and city square of Manila. Referred as the "Old Downtown", Quiapo in known for where cheap buys or goods are being sold at rock-bottom prices and was the home of the Quiapo Church, where the feast for the Black Nazarene is held, with over millions of people attending...

 to become a fully functioning department store
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...

 named "Shoemart", specialising in the sale of shoes, the sector of which the store originally was. Shoemart was later abbreviated to SM and became commonly known as "SM" or "Shoemart" by the locals. The SM in Carriedo was later abandoned and moved in the present site in Quiapo
Quiapo, Manila
Quiapo is a district and city square of Manila. Referred as the "Old Downtown", Quiapo in known for where cheap buys or goods are being sold at rock-bottom prices and was the home of the Quiapo Church, where the feast for the Black Nazarene is held, with over millions of people attending...

 near the Manila LRT Yellow Line
Manila LRT Yellow Line
The Manila LRT Yellow Line is the first metro line of the Manila Light Rail Transit System. Presently, the line contains twenty-two stations and runs over twenty point seven kilometers of fully elevated track...

. The old site was demolished in 1982.

The first SM Supermall, SM City North EDSA
SM City North EDSA
SM City North EDSA is the largest mall in the Philippines, and the world’s third biggest in terms of leasable area . It is operated by SM Prime Holdings, a local holding company in the Philippines, the biggest retail and mall operator in Southeast Asia...

, was opened in 1985 and started the Philippine "malling" phenomenon. Sy observed the malling hobby of Filipinos and opted to make every SM Supermall like an amusement park
Amusement park
thumb|Cinderella Castle in [[Magic Kingdom]], [[Disney World]]Amusement and theme parks are terms for a group of entertainment attractions and rides and other events in a location for the enjoyment of large numbers of people...

. All SM Supermalls contain at least one or more amusement facilities, such as cinemas, bowling alleys, convention centres and game arcades.

Located in several cities and areas in Metro Manila
Metro Manila
Metropolitan Manila , the National Capital Region , or simply Metro Manila, is the metropolitan region encompassing the City of Manila and its surrounding areas in the Philippines...

, as well as major
Major
Major is a rank of commissioned officer, with corresponding ranks existing in almost every military in the world.When used unhyphenated, in conjunction with no other indicator of rank, the term refers to the rank just senior to that of an Army captain and just below the rank of lieutenant colonel. ...

 provincial cities, each SM is easily accessible and situated by places of public interest (churches, schools, major roads and highways, etc). SM opened its first department store outside Metro Manila
Metro Manila
Metropolitan Manila , the National Capital Region , or simply Metro Manila, is the metropolitan region encompassing the City of Manila and its surrounding areas in the Philippines...

 (SM Delgado
SM Delgado
SM Delgado is a department store owned by SM Land Inc. and operated by Metro Manila Shopping Mecca Corporation --- the same arm of the SM Group that operate the branches at SM City Manila and SM City Santa Rosa. It is located within Iloilo City's bustling commercial district along Delgado and...

) in Iloilo City
Iloilo City
The City of Iloilo is a highly urbanized city in the Philippines and the capital city of Iloilo province. It is the regional center of the Western Visayas, as well as the center of the Iloilo-Guimaras Metropolitan Area...

 in 1979 and was relaunched in 2004.

The first ice skating rink in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

 was opened in SM Megamall
SM Megamall
SM Megamall is a huge shopping mall located in the Ortigas business district of Metro Manila, Philippines. It is the 3rd SM Supermall developed and operated by SM Prime Holdings, the largest mall operator in the Philippines owned by Henry Sy Sr. The mall has two buildings interconnected with a bridge...

 in 1991. With this first, SM introduced Filipinos to an art-sport otherwise unpopular in tropical countries. The SM Supermalls also house 146 cinemas (with over 103,708 total seating capacity), making SM Prime Holdings the largest cinema operator in the country.

As of 2006, SM Prime Holdings is embarking on an aggressive expansion program within the next five years. In preparation for this expansion, SM Prime Holdings, Inc. has amassed a total landbank of 96.6 hectares in 10 strategic locations. Included are attractive properties in provinces where urbanization is steadily underway, such as Cabanatuan
Cabanatuan City
The City of Cabanatuan is a first class, urban city in the province of Nueva Ecija, Philippines. It is considered the commercial, industrial and educational hub of the province. According to the latest census, it has a population of 259,267 people in 45,424 households which makes it the largest...

, Pangasinan
Pangasinan
Pangasinan is a province of the Republic of the Philippines. The provincial capital is Lingayen. Pangasinan is located on the west central and peripheral area of the island of Luzon along the Lingayen Gulf, with the total land area being 5,368.82 square kilometers . According to the latest census,...

 and Bulacan
Bulacan
Bulacan , officially called the Province of Bulacan or simply Bulacan Province, is a first class province of the Republic of the Philippines located in the Central Luzon Region in the island of Luzon, north of Manila , and part of the Metro...

.

By 2006, five additional SM Supermalls will be operational, including the SM Mall of Asia
SM Mall of Asia
SM Mall of Asia is a shopping mall owned and developed by SM Prime Holdings, the largest mall developer and owner in the Philippines. SM Mall of Asia is the 2nd largest mall in the Philippines after SM City North EDSA, 3rd largest shopping mall in Asia and the 4th largest shopping mall in the world...

. This is SM Prime Holdings most expensive project to date.

The SM Group has engaged in other retail endeavors through other SM related companies such as, among others: Watsons Personal Care Stores, Inc., a joint-venture with Hutchison-Whampoa Ltd. of Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...

; International Toy World (Toy Kingdom); Ace Hardware Philippines, a joint-venture with Ace Hardware Corporation USA
Ace Hardware
Ace Hardware Corporation is a hardware cooperative based in Oak Brook, Illinois, United States. ACE Hardware Corporation, with 4,444 stores, does over $3 billion in retail hardware sales annually down from its peak of $12.5 billion in 2007.-History:...

; Star Appliance Center; Surplus Shop; Sports Central; Baby and Co.; Home World; and Our Home. The amusement center is SM Storyland.

There are plans to open stores in North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...

, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

 and Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...

.

China

Name Opening Floor area (m²) SM City Xiamen
SM City Xiamen
SM City Xiamen is a shopping centre in Xiamen city, Fujian province, China. It is owned by SM Prime Holdings, the largest retail and mall operator in the Philippines. It is the first SM Supermall on mainland China, which opened on December 13, 2001....

 
13 Dec 2001 126,000 2F, SM City, NO468 Jiahe Road, Xiamen City
Xiamen
Xiamen , also known as Amoy , is a major city on the southeast coast of the People's Republic of China. It is administered as a sub-provincial city of Fujian province with an area of and population of 3.53 million...

, Fujian, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

SM City Jinjiang
SM City Jinjiang
SM Jinjiang is a mall in Jinjiang, Quanzhou, Fujian province, China, as part of expansion of SM Prime Holdings Philippines. It is owned and operated by SM Prime Holdings, under the management of Henry Sy, a Filipino-Chinese business tycoon.-See also:...

 
26 Nov 2005 170,000 Fu PU SM International Square, Jinjiang City, Fujian, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

SM City Chengdu
SM City Chengdu
SM Chengdu is a shopping mall in Chengdu, Sichuan province, China as part of expansion of SM Prime Holdings Philippines. It is owned and operated by SM Prime Holdings, under the management of Henry Sy, a Filipino-Chinese business tycoon.-See also:...

 
20 Oct 2006 176,000 SM City (CHENGDU) NO.29, Section.2 of 2nd Ring Road, Chengdu City, Sichuan
Sichuan
' , known formerly in the West by its postal map spellings of Szechwan or Szechuan is a province in Southwest China with its capital in Chengdu...

, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

SM Lifestyle Center
SM Lifestyle Center
SM Lifestyle Center is the second shopping mall in Xiamen, China after SM City Xiamen and it is also the 4th China mall expansion of SM Prime Holdings in the whole country with 216,000 m2 retail space...

 
30 Oct 2009 109,947 3F, SM Lifestyle Center, NO468 Jiahe Road, Xiamen City
Xiamen
Xiamen , also known as Amoy , is a major city on the southeast coast of the People's Republic of China. It is administered as a sub-provincial city of Fujian province with an area of and population of 3.53 million...

, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

SM City Suzhou
SM City Suzhou
SM Suzhou is the 1st SM mall in Jiangsu Province and it is also the 5th China mall expansion of SM Prime Holdings in the whole country with 72,552 m2 retail space. It is owned and operated by SM Prime Holdings, under the management of Henry Sy, a Filipino-Chinese business tycoon...

 
23 Sept 2011 69,275 No.1109, Yuehu Road, Wuzhong District, Suzhou City, Jiangsu China.
SM City Chongqing 2012 146,323 Yusongyizhi Road, Longshang Street, Ranjiaba, Yubei District,Chongqing City, China.
SM City Zibo 2013 66,002 Banyang Road, Zichuan District, Zibo City,Shangdong, China.
SM Tianjin 2013 530,000 Tianjin
Tianjin
' is a metropolis in northern China and one of the five national central cities of the People's Republic of China. It is governed as a direct-controlled municipality, one of four such designations, and is, thus, under direct administration of the central government...

, China

Branch in USA

  • SM Guam
    • 42000 sq ft (3,901.9 m²). Opened 2006 in the Agana Shopping Center
      Agana Shopping Center
      Agana Shopping Center is a shopping center located in downtown Hagåtña, Guam. It opened in 1978. The mall is one of numerous malls on Guam. Main competitors include Micronesia Mall, Guam's largest shopping mall and Guam Premier Outlets in Tamuning....

       in Guam
      Guam
      Guam is an organized, unincorporated territory of the United States located in the western Pacific Ocean. It is one of five U.S. territories with an established civilian government. Guam is listed as one of 16 Non-Self-Governing Territories by the Special Committee on Decolonization of the United...

      , which SM also bought and repaired after it was severely damaged by a typhoon. It is the 1st SM store on US
      United States
      The United States of America is a federal constitutional republic comprising fifty states and a federal district...

       territorial soil since a previous attempt in the 1970s—before SM had grown into a retail giant.

Standalone department stores

The SM standalone department stores are some of the first department stores before it grew into a big business.
Name Opening Location
SM Quiapo
SM Quiapo
SM Quiapo also known as "SM Clearance Outlet" and "SM Carriedo," is the very first SM Department Store opened in November 1972. The store is owned by Chinese-Filipino billionaire Henry Sy and currently being managed by the SM Group's foundation, SM Department Store Inc...

 (Clearance Store)
November 1972 Carriedo St., Quiapo
Quiapo
Quiapo may refer to:*Quiapo, Chile a location in Arauco Province*Quiapo, Manila in the Philippines...

, Manila
Manila
Manila is the capital of the Philippines. It is one of the sixteen cities forming Metro Manila.Manila is located on the eastern shores of Manila Bay and is bordered by Navotas and Caloocan to the north, Quezon City to the northeast, San Juan and Mandaluyong to the east, Makati on the southeast,...

SM Makati (Flagship Store) September 1975 Ayala Centre cor. EDSA, Makati City
Makati City
The City of Makati is one of the 17 cities that make up Metro Manila, one of the most populous metropolitan areas in the world. Makati is the financial center of the Philippines and one of the major financial, commercial and economic hubs in Asia...

, Metro Manila
Metro Manila
Metropolitan Manila , the National Capital Region , or simply Metro Manila, is the metropolitan region encompassing the City of Manila and its surrounding areas in the Philippines...

SM Cubao October 1978 Araneta Center
Araneta Center
The Araneta Center is a 35-hectare commercial area in Quezon City, Philippines. Araneta Center Inc. , controlled by the Araneta family, is the owner, developer and manager of Araneta Center, which brings in an estimated 1 million visitors daily...

, Cubao, Quezon City
Quezon City
Quezon City is the former capital and the most populous city in the Philippines. Located on the island of Luzon, Quezon City is one of the cities and municipalities that make up Metro Manila, the National Capital Region. The city was named after Manuel L...

, Metro Manila
Metro Manila
Metropolitan Manila , the National Capital Region , or simply Metro Manila, is the metropolitan region encompassing the City of Manila and its surrounding areas in the Philippines...

SM Delgado
SM Delgado
SM Delgado is a department store owned by SM Land Inc. and operated by Metro Manila Shopping Mecca Corporation --- the same arm of the SM Group that operate the branches at SM City Manila and SM City Santa Rosa. It is located within Iloilo City's bustling commercial district along Delgado and...

 (Iloilo)
May 1979 Valeria Street cor. Delgado Street, Iloilo City
Iloilo City
The City of Iloilo is a highly urbanized city in the Philippines and the capital city of Iloilo province. It is the regional center of the Western Visayas, as well as the center of the Iloilo-Guimaras Metropolitan Area...

, Iloilo
SM Harrison Plaza October 1984 Adriatico St., Malate
Malate
Malate is the ionized form of malic acid. It is an important chemical compound in biochemistry. In the C4 carbon fixation process, malate is a source of CO2 in the Calvin cycle....

, Manila
Manila
Manila is the capital of the Philippines. It is one of the sixteen cities forming Metro Manila.Manila is located on the eastern shores of Manila Bay and is bordered by Navotas and Caloocan to the north, Quezon City to the northeast, San Juan and Mandaluyong to the east, Makati on the southeast,...


Standalone supermarkets and hypermarkets

The SM Group
SM Investments
SM Investments Corporation, SM Investments or SMIC is a holding company with interests in shopping mall development and management, retail, real estate development, banking and tourism. The SM Group was founded by Henry Sy, Sr...

's standalone supermarkets
SM Supermarket
SM Supermarket is the food retail arm of SM Investments. It operates 28 branches across the Philippines.-History:Operated by Super Value, Inc., SM Supermarket established its first store in 1985 at the Ayala Center, Makati and outside Metro Manila in Iloilo City. It eventually expanded to 28...

 and hypermarkets
SM Hypermarket
SM Hypermarket was started by the Sy family back in the late '90s in response to the growing needs of the market for more convenience. The hypermarket, a new retail format of combining a supermarket with a department store providing one-stop shopping concept was newly accepted by Filipino...

 are not within the listed entity of SM Prime, but are in the parent to SM Prime, namely SM Investments (SMIC).

Makro

Pilipinas Makro, which operates the Makro stores in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

 was originally a partnership between the Sy family's SM Group, SHV Holdings N.V. of the Netherlands, and the Ayala
Ayala
-Places:*Ciudad Ayala, Morelos, Mexico*Ayala, a town in Álava province, Spain*Ayala Center, the Philippines*Ein Ayala, Israeli moshav-Organizations and companies:*Ayala Corporation, a holding company operating in the Philippines*Ayala & Co., champagne producer...

 group.

In 2004, the Ayala group sold its 28% interest in Makro to its joint-venture partners, and in late 2007 SM Investments folded the Makro stores into its operations after it increased its ownership of Pilipinas Makro to 60%. The SM group now holds 100% of Makro, but due to the economic slowdown in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

and poor acceptance of the Makro wholesale concept, some Makro outlets will be converted into SM Hypermarkets in the next few years.

External links

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