SM Bankrolls P7B to Expand Retail Business

SM Investments Corp. (SMIC), the investment holding company of the Sy family, is pouring in as much as P7 billion this year to continue the aggressive growth of its retail business in the country.

- RICHMOND MERCURIO

"For our retail group, we're going to spend between P5 billion and P7 billion for the expansion of the stores," SMIC executive vice president for finance Franklin Gomez said.

Gomez said that the amount forms part of SMIC's planned capital expenditures for 2025, the biggest portion of which will be used by integrated property developer SM Prime Holdings Inc. amounting to P100 billion.

"SM Prime will be the biggest spender of capex. But outside the property group, we also include some M&As (mergers and acquisitions) if there are some opportunities at the parent, but that we cannot estimate," he said.

SM's retail operations are the country's largest and most diversified, consisting of grocery stores, department stores and specialty retail stores.