It went public on July 5, 1994, and subsequently grew to become the largest company listed on the Philippine Stock Exchange in terms of revenue.

The roots of SM date back to the 1950s when entrepreneur Henry Sy, Sr. established a shoe store at Carriedo Street in Quiapo, Manila.

According to the company, the malls attract an average foot traffic of 3.5 million daily and has over 5,000 tenant partners.

[7] SM Development Corporation (SMDC) is a wholly-owned subsidiary and the real estate arm of SMPH.

Its properties are strategically situated in key areas across Metro Manila specifically the Central Business Districts of Mall of Asia Complex, Makati, Ortigas, Taguig, Quezon City, Manila, Pasay, Parañaque and Las Piñas, as well as nearby provinces like Cavite, Bulacan, Pampanga and in Visayan locations Iloilo and Bacolod.