SM Prime expects 15% foot traffic surge

SM Prime Holdings Inc. recorded a robust first-quarter performance at its flagship Mall of Asia (MoA) Complex in Pasay City, as visitor traffic surged by 15 percent year-on-year to 34.5 million — buoyed by a jam-packed slate of concerts, events and sporting spectacles.

The 60-hectare integrated estate drew massive crowds with global acts like Maroon 5 and K-pop stars Baekhyun and Taeyeon, the return of the Philippine International Pyromusical Competition, and crowd-pulling University Athletic Association of the Philippines volleyball matches.

“The Mall of Asia Complex demonstrates how our integrated, experience-led strategy — from retail and offices to education and entertainment — drives sustained foot traffic,” SM Prime president Jeffrey Lim said.

Growing projects

SM Prime’s estate model — anchored by the massive SM Mall of Asia and flanked by attractions such as SMX Convention Center, MoA Arena, the world’s largest IKEA and a growing cluster of residential and office buildings — continues to show how diversified property development can drive economic activity.

The company’s consolidated net income rose 11 percent in the first quarter, largely on the back of mall operations. To sustain momentum, SM Prime is banking on a three-pronged growth strategy that includes organic expansion, regional development and diversified investments.

“We are seeing sustained momentum toward experience-driven consumption so we are aligning our event strategy to capture that demand,” Lim added.

As SM Prime eyes premium residential and integrated developments to fuel growth in the coming years, the MOA Complex remains its showcase for how entertainment, retail, and urban living can thrive in a single destination.