Henry Sy, the Father of Modern Philippine Retail, dared to dream big. “I thought that if I sold a pair of shoes to every Filipino, I would be a successful man,” he once said. This aspiration, fueled by post-war ambition, would lay the foundation for SM Prime Holdings, the largest mall operator in the Philippines and one of Southeast Asia’s largest integrated property developers.
A simple man with grand visions, Sy was driven by a deep desire to elevate the Filipino consumer experience.
This belief led him to establish his first Shoemart store in 1958. In a bid to create a unique and aspirational shopping experience, he introduced groundbreaking concepts like air-conditioning and uniformed sales personnel reminiscent of flight attendants, offering Filipinos a taste of “America” right in their own country.
Later on, he would build a space where Filipino families could enjoy a complete lifestyle experience—shopping, dining and entertainment, all under one roof. Sy dubbed it “SM City”, a 125,000 square meter structure at the junction of EDSA and North Avenue in Quezon City, an area considered a swampland in the 1980s.
SM City North Edsa would later become a landmark destination, redefining the concept of a shopping mall and paving the way for the rise of similar retail spaces across the country.
His children continued to dream bigger, this time using SM Prime as their vehicle. The second generation Sys channeled their energy and the company’s resources towards developing a world-class central business district in Pasay City.
Today, the SM Mall of Asia Complex stands as a testament to the Sy family’s foresight and hard work, a master-planned community that includes two malls—Mall of Asia and S Maison—with a combined gross floor area of over 695,000 square meters, several office buildings and residential condominiums, the largest Ikea store in the world, a 20,000-capacity indoor arena, an indoor music hall with a capacity of around 1,200 people, an outdoor amusement park, a university and the largest privately-run exhibition and convention center in the country.
Three decades strong, SM Prime embarks on its next chapter with a renewed commitment to its founder’s vision: building innovative and sustainable spaces that enhance the lives of Filipinos and drive national progress.
“With the strong foundation we’ve built, we believe our best projects are still to come,” said SM Prime President Jeffrey C. Lim.
“We have several developments in the pipeline, some of which we expect will drive the company to a new level of growth,” he added.
Henry Sy’s influence transcended retail; he created spaces that elevated the Filipino experience. And in his children, he nurtured a generation of visionaries who expanded and diversified his legacy, driving innovation and sustainability across various industries.
As SM Prime continues to grow and evolve, one thing is certain: the company will continue to play a vital role in the lives of Filipinos for many years to come.
The article above is a sponsored press release from SM Prime Holdings.
