SM Prime Holdings, Inc. was honored as the 2018 Frost & Sullivan Philippines Property Development Growth Excellence Leadership Award at the recent 11th annual Asia-Pacific Best Practices Awards banquet held at the Shangri-La Hotel Singapore.
Janice Wung, program manager, Energy & Environment, Frost & Sullivan noted that the property development market in the Philippines continues to develop steadily, driven by economic growth, rapid urbanization, and government spending on infrastructure projects.
“Amid this backdrop, SM Prime Holdings Inc. cemented its position as the leading developer in the retail and commercial property market. The company continues to redefine the lifestyle mall concept, achieving higher than average revenue growth, successfully launching 7 new shopping malls, and making headway in China’s real estate market in 2017,” she added.
SM Prime has been recognized to be one of the companies in Asia-Pacific inspired by visionary growth, innovation, and leadership. Their performance has validated its position in the global scene using global benchmarks and best practices, against all other major competitors in the Philippine’s Property Development Industry.
The growth strategy SM Prime employed proved to be the best in delivering revenue growth, market share growth, in acquiring major customers, in demonstrating leadership in new product introduction and innovation, in providing a broad spectrum of products and solutions given their business and market strategies.
“We are proud to be honored with the 2018 Philippines Property Development Growth Excellence Leadership Award. This is truly inspiring and at the same time challenging for us to be always better than ourselves in pursuit of a higher purpose of being a catalyst for economic growth in our country. We will continue to deliver innovative and sustainable lifestyle cities that enrich the quality of life of millions of people while keeping our commitment to our stakeholders as a whole,” said SM Prime president, Jeffrey C. Lim.
Shivaji Das, Partner & Asia-Pacific managing director at Frost & Sullivan noted that the annual awards was held to honor and recognize companies that have pushed the boundaries of excellence in Asia-Pacific.
“We are delighted to highlight best practices and honor companies that have delivered excellence in their respective industries. Through this recognition, Frost & Sullivan hopes that the companies will continue to excel and spur them to further achievements,” he added.
Frost & Sullivan’s Best Practices Awards recognizes companies’ through a range of regional and global markets for superior leadership, technological innovation, customer service and strategic product development. The recipients of the Frost & Sullivan Asia-Pacific Best Practices Awards were identified based on rigorous measurement parameters in each category. The Frost & Sullivan’s industry analyst team benchmarks market participants and measures their performance through independent, primary interviews and secondary industry research in order to evaluate and identify best practices.
Frost & Sullivan, the Growth Partnership Company, is a global leader that is highly respected in the analyst world. They work in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, they have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community.