January 1, 2025 | 12:00am
MANILA, Philippines — SM Prime Holdings Inc., the integrated property development arm of the SM Group, is looking to pursue more projects following a 15-minute city concept in the coming years.
Jessica Sy, vice president and head of design, innovation and strategy of SM Prime and SM Development Corp. (SMDC), said that while the idea is not a new concept, a 15-minute city is something that the company wants to continue incorporating in its integrated property developments moving forward.
Under a 15-minute city concept, SM Prime’s multifaceted approach to building design addresses the need to have retail, residential, commercial and leisure spaces in one seamlessly connected area.
“We want to encourage pedestrian-friendly communities by creating spaces that addresses today’s challenges like traffic congestion through responsible and efficiently designed spaces,” Sy said.
According to SM Prime, incorporating best building practices such as disaster resilience and sustainability in building designs have become essential to the company over the years.
SM Prime said that its residential arm, SMDC, ensures that it meets the highest standards of disaster resilience in its developments.
SMDC has equipped a number of its properties with disaster resilience features.
On top of incorporating green building features, SMDC properties also strengthen community ties, increase environmental consciousness and promote local identity in its projects.
“The decisions that we have today are going to impact the long-term future. With sustainability at the forefront of our conversations nowadays, we see that that’s part of the legacy that we need to complete,” Sy said.
“From an architectural standpoint, we want to make sure that when we develop a building, it’s going to last for a long time. We’ve seen that what’s good for our communities is actually good for our company because addressing their needs also strengthens our connection with them as our customers,” she said.
SM Prime hopes to sustain its growth momentum, diversify revenue streams and strengthen its leadership position in the real estate sector by strategically aligning and expanding its portfolio.
The company is committed to its role as a catalyst for economic growth by delivering innovative and sustainable lifestyle cities.
For 2025, SM Prime is looking to spend up to P110 billion for capital expenditures.
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