SM Group Unveils "Grand Projects" For 2024

The SM Group has revealed ambitious plans for 2024, aiming to further expand its presence and influence across various sectors in the Philippines.

The SM Group anticipates continued growth in its core businesses and expects its portfolio investments to contribute significantly to its overall performance in the medium-term. I Photo: SM Investments

Frederic C. DyBuncio, President and CEO of SM Investments Corporation, emphasized the group's commitment to responsible development and its role as a catalyst for economic activity.

Key projects announced by the SM Group include the opening of four new malls by SM Prime Holdings, Inc., with innovative attractions and experiences designed to enhance customer engagement.

SM Development Corporation (SMDC) plans to roll out thousands of residential units in different regions of the Philippines, while SM Hotels has launched its first Lanson Place property.

In the retail sector, Alfamart, SM's minimart grocery format, is set to expand its store network significantly, while BDO and BDO Network Bank plan to increase their branch coverage.

Additionally, the group is investing in emerging sectors such as clean energy sources, with plans to explore new steam fields to double the company's current steam production.

SM's logistics companies, including 2GO Group, Inc. and Airspeed, are also expanding their operations, with plans to increase fleet size, enhance distribution facilities, and improve customer options and delivery times.

Overall, the SM Group anticipates continued growth in its core businesses and expects its portfolio investments to contribute significantly to its overall performance in the medium-term, positioning the group to capitalize on opportunities in high-growth sectors.