Philippine Mall Operator Predicts Higher Sales
The Philippines is home to one of the world’s largest shopping mall operators, SM Prime Holdings Inc. The company is predicting higher sales for the upcoming school year, as the country begins to reopen its economy.
SM Prime Holdings Inc.
SM Prime Holdings Inc. is the largest shopping mall operator in the Philippines. It is owned by the Sy family, one of the country’s wealthiest families. The company operates over 70 malls in the Philippines, as well as several malls in China and Vietnam.
The company has been able to remain profitable despite the economic downturn caused by the COVID-19 pandemic. This is due in part to the company’s diversified portfolio of businesses, which includes retail, leisure, and entertainment.
Reopening of the Economy
The Philippine government has been gradually reopening the economy since the start of the pandemic. This has allowed SM Prime Holdings Inc. to begin reopening its malls. The company has implemented safety protocols, such as temperature checks and social distancing, to ensure the safety of its customers.
The company is now expecting higher sales for the upcoming school year. This is due to the fact that many parents are now looking for back-to-school supplies for their children. The company is also expecting an increase in sales of consumer goods, as people begin to spend more money on non-essential items.
Outlook for the Future
SM Prime Holdings Inc. is optimistic about the future of the Philippine economy. The company believes that the country’s economy will continue to recover in the coming years. This will be driven by the government’s efforts to stimulate the economy, as well as the increasing consumer spending.
The company is also expecting to benefit from the increasing number of tourists visiting the country. The company is planning to open more malls in the coming years, in order to capitalize on the growing demand for retail space.
Conclusion
SM Prime Holdings Inc. is one of the largest shopping mall operators in the Philippines. The company is expecting higher sales for the upcoming school year, as the country begins to reopen its economy. The company is optimistic about the future of the Philippine economy, and is planning to open more malls in the coming years.