percent in the second quarter to P10 billon from P6.7 billion in the same period last year on the back of strong mall and residential revenues.
Domestic mall revenues surged 30 percent in the second quarter to P16.1 billion from P12.4 billion, while residential sales, led by SM Development Corp., also grew 82 percent year-on-year to P9.9 billion. “The strong performance of SM Prime’s main business units in the first half of 2023, led by its malls and primary residences, amplifies its commitment to be a driver of growth in the local property industry. We will continue to be strategic in expanding our footprints and operations across different localities where we can continue to be partners for growth and progress,” said SM Prime president Jeffrey Lim.