SM Investments Corp. is looking beyond key cities and widely-known brands, and training the spotlight on local favorites and experiences to help drive SM Group’s future growth.
“The regions are providing a lot of growth potential for all of our businesses as we continue to expand in many underserved areas,” said Frederic C. DyBuncio, president and chief executive officer of SM Investments.
In nearby Santo. Tomas City, SM Investments’ property arm, SM Prime Holdings Inc., recently opened the group’s fourth shopping mall in Batangas province, spurring local economic growth by supporting local brands and creating jobs in the city and nearby areas.
Watsons Philippines, an SM Retail affiliate, has 80 percent of its employees coming from Santo Tomas. Local residents also make up a majority of the workforce of SM Supermarket as well as other SM Retail affiliates such as Sports Central Inc., Surplus, and Ace Hardware.
City Mayor Arth Jhun Marasigan said since the opening of the SM shopping mall in Santo Tomas in October, many growth opportunities have opened for the city and its residents.
“Many of our residents have found opportunities to open their own business within the mall and its surrounding areas,” said Mayor Marasigan. “The provision of employment brought by its opening has catered to thousands of job-seekers, most especially Tomasinos and, in turn, had an impact on the city’s economy.”
Steven Tan, president of SM Supermalls, said the SM Group’s goal is to become a pillar of the community and an engine of growth and development. ping, but a pillar of community growth and development,” said Mr. Steven Tan, President of SM Supermalls. “We view ourselves as partners with the areas where we operate, helping create jobs and livelihood opportunities to spur economic progress,” he said.
For many local entrepreneurs, opening a space within SM shopping malls is an achievement in itself.
Batangas resident and owner of the restaurant Kwatogs, Sherwin Libuit said SM shopping mall provides an opportunity to offer to a wider market a taste of authentic Batangas lomi—an iconic Filipino dish reminiscent of chicken noodle soup, but made with thick egg noodles.
“To me, SM isn’t merely a business partner; it’s also a silent supporter that played a crucial role in turning my modest vision into reality,” said Libuit, who recalled his business journey from the time he was just a “tambay.”
Juddie Alegre, owner of Juddie’s Bulalohan, another local brand, said serving her signature nilagang bull within the confines of a shopping mall is dream realized and an opportunity to do better. “Pinaganda pa po (namin ang Juddie’s) dahil kay SM po kami napunta,” she added.
“SM City Sto. Tomas can really serve as a hub for people to relax and have fun together with their friends and loved ones,” said Mayor Marasigan.
