SM PRIME Holdings Inc. reported a 15 percent increase in first-quarter foot traffic at its Mall of Asia (MOA) Complex, with visits rising to 34.5 million.
The boost was driven by marquee events—including the Philippine International Pyromusical Competition—major concerts by international artists, and sports fixtures such as the UAAP volleyball season.
Consolidated net income for the first quarter climbed 11 percent year-on-year, led by the mall segment’s strong performance.
SM Prime attributes its momentum to an integrated, experience-led strategy across retail, offices, education, and entertainment within its MOA estate, which houses SM Mall of Asia, SMX Convention Center, MOA Arena, SM MOA IMAX, and the world’s largest IKEA store.
Looking ahead, SM Prime plans to sustain growth through organic expansion, regional development, and diversification into integrated property developments and premium residential projects./ KOC