SM Prime Holdings Inc. (SMPH) reported a 15-percent increase in foot traffic at its Mall of Asia (MOA) Complex in the first quarter of 2025, with visits reaching 34.5 million.
SMPH, in a disclosure to the stock exchange, attributed the rise to the 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 as well as popular concerts by international artists.
Sporting events like the UAAP volleyball season brought in university fans as well.
“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 Lim.
“It’s the SM ecosystem in full effect,” he said.
The 60-hectare MOA Complex is SMPH’s first integrated estate. It includes the SM Mall of Asia, SMX Convention Center Manila, MOA Arena, SM MOA IMAX and 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,” Lim said.
SMPH earlier reported an 11-percent increase in consolidated net income in the first quarter to P11.9 billion, mainly due to strong mall performance.
Revenues grew 7 percent to P32.8 billion on the back of higher rental income.
SM Prime plans to focus on organic expansion, regional development and diversification, Lim said.
Lim said integrated property projects and high-end residential developments would help drive growth in the next five years.
