SM malls log P52.5B in revenues in first 3 quarters

Business.(Business File photo)

SM PRIME’S mall business, which accounts for 57 percent of the company’s consolidated revenues, recorded P52.5 billion in the first three quarters of 2023, up by 37 percent from P38.2 billion in the same period last year.

SM Prime’s mall rental income rose to P44.8 billion in the first nine months of the year, 29 percent higher than last year’s P34.7 billion.

SM Prime’s cinemas, event ticket sales, and other revenues increased significantly to P7.7 billion from P3.5 billion in the same period last year.


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