Melo Villareal
SM Prime Holdings Inc. (SM Prime), a leading integrated property developer in Southeast Asia, announced a 15 percent rise in first-quarter foot traffic at its premier Mall of Asia (MOA) Complex, with visits reaching 34.5 million.
SM Mall of Asia Complex
In the first quarter, foot traffic at the MOA Complex increased significantly due to a robust lineup of events, highlighted by the return of the Philippine International Pyromusical Competition, which drew top-tier fireworks teams globally and greatly enhanced evening attendance.
This quarter also featured high-profile concerts by international artists such as Maroon 5, NIKI, Wave to Earth, and K-pop sensations Baekhyun and Taeyeon.
Additionally, major sporting events like the UAAP volleyball season attracted significant crowds from universities.
“The Mall of Asia Complex demonstrates how our integrated, experience-led strategy—from retail and offices to education and entertainment—drives sustained foot traffic,” said SM Prime President Jeffrey C. Lim. “It’s the SM ecosystem in full effect.”
The MOA Complex is SM Prime’s first integrated estate and is home to some of the Philippines’ largest and most modern commercial properties. This includes the SM Mall of Asia, SMX Convention Center Manila, MOA Arena, and SM MOA IMAX. Notably, it also features the world’s largest IKEA store.
“We are seeing sustained momentum toward experience-driven consumption so we are aligning our event strategy to capture that demand,” added Lim.
SM Prime reported a first-quarter consolidated net income that is up by an 11 percent increase from the previous year, driven primarily by the performance of its mall segment.
To sustain its growth momentum, SM Prime has outlined a three-pronged strategy of organic expansion, regional development, and bold diversification. Lim said he expects integrated property developments and premium residential projects to drive growth over the next five years.
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