SM Prime Holdings to spend P80B in 2021

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SM PRIME Holdings Inc. sets P80 billion for its 2021 capital expenditures, focusing on its mall and residential business segments, with due consideration to the challenges brought about by the Covid-19 pandemic.

Likewise, SM Prime’s board of directors approved the declaration of cash dividends of P0.082 per share, amounting to P2.368 billion to all stockholders of record as of May 5, 2021, payable on or before May 19, 2021.

This 2021, SM Prime is scheduled to open three new malls in the Philippines provided that quarantine measures are eased and with utmost concern for people’s safety.

Along with this, the firm aims to launch 15,000 to 20,000 residential units with its primary residential business segment, SM Development Corp., sustaining its growth in the previous year amidst the pandemic. (PR)