SM Prime Holdings Inc. (SM Prime), one of Southeast Asia’s largest integrated property developers, announced a significant 15 percent increase in first-quarter foot traffic at its flagship Mall of Asia (MOA) Complex, with visits climbing to 34.5 million. This surge contributed to an 11 percent rise in SM Prime’s consolidated net income for the quarter, primarily propelled by its strong-performing mall segment.
The robust foot traffic at the MOA Complex was fueled by a dynamic lineup of events and activities. A key highlight was the return of the Philippine International Pyromusical Competition, which drew massive evening crowds with its world-class fireworks displays. The quarter also hosted high-profile concerts featuring global acts such as Maroon 5, NIKI, Wave to Earth, and K-pop stars Baekhyun and Taeyeon. Major sporting events, including the UAAP volleyball season, also attracted large university audiences.
“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 Jeffrey C. Lim, President of SM Prime. “It’s the SM ecosystem in full effect.”
The MOA Complex, SM Prime’s inaugural integrated estate, is home to some of the Philippines’ largest and most modern commercial properties, including SM Mall of Asia, SMX Convention Center Manila, MOA Arena, and SM MOA IMAX. It also houses 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,” Lim added.
To sustain its growth trajectory, SM Prime has outlined a three-pronged strategy focusing on organic expansion, regional development, and bold diversification. Lim anticipates that integrated property developments and premium residential projects will be key drivers of growth over the next five years.
