SM Prime Holdings Inc. (SM Prime), one of Southeast Asia’s largest
integrated property developers, reported a 15 percent increase in first-quarter
foot traffic at its flagship Mall of Asia (MOA) Complex, as visits climbed to
34.5 million.
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| The MOA Sky, located at the top of the SM Mall of Asia, features an
Amphitheater that can stage various events, from concerts to fashion
shows. |
First-quarter foot traffic at the MOA Complex was fueled by a strong
slate of events, led by the return of the Philippine International Pyromusical
Competition, which featured top-tier fireworks teams from around the world and
sharply boosted evening visits.
The quarter also saw high-profile concerts from global acts including
Maroon 5, NIKI, Wave to Earth and K-pop stars Baekhyun and Taeyeon.
Major sporting events like the UAAP volleyball season attracted also
large university crowds.
“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, SM Prime’s first 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,” added Lim.
SM Prime reported a first-quarter consolidated net income up by 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. (SM PRIME)
About MOA Complex
Located in Pasay City and spanning 60 hectares, the Mall of Asia (MOA)
Complex is SM Prime’s flagship integrated estate. Anchored by SM Mall of
Asia—one of the largest malls in the world—the complex also features
residential developments, office buildings, a convention center, events arena,
hotels, an amusement park and an academic institution.
