News & Events
2016’s Largest Real Estate Developers in PH
The Philippine real estate industry is showing little signs of slowing down. Despite political and economic uncertainties, it continues to march on unaffected, contributing significantly to the country’s 2016 gross domestic product (GDP) of 6.8 percent, as reported by the Philippines Statistics Authority (PSA).
Having withstood the test of time, the real estate industry has plenty of players. However, some are simply a cut above the rest, and we take a look at five which continue to effect the local economy the most with their subsidiaries, current projects, and previous year’s income.
SM Prime Holdings, Inc.
Reported 2016 Net Income: Php23.8 billion
Already one of the largest integrated property developers in Southeast Asia, SM Prime Holdings continues to cement its place among the top real estate developers in the Philippines by furthering innovative and sustainable lifestyles through the development of malls, residences, offices, hotels and convention centers.
Artist rendering of Fame Residences, an upcoming condo by SMDC, residential subsidiary of SM Prime. Image via SMDC.
In 2016, SM’s property holding firm saw its net income increase by 14 percent from a year earlier, driven by the expansion of its retail portfolio. In a press statement, SM Prime President Jeffrey Lim shared that “SM Prime sustained its overall performance in 2016 on account of focusing more on recurring income stream, complemented by the solid performance of the housing group.”
The residential group of SM Prime, comprised of SM Development Corporatio