SM Prime names new mall president

MANILA, Philippines — SM Prime Holdings Inc., the listed property developer of the Sy family, announced yesterday the appointment of Steven Tan as president of the company’s mall management unit, Shopping Center Management Corp.

The appointment comes as SM Prime is embracing changing mall patterns and practices in the Philippines. Brick-and-mortar malls are currently facing tough competition from online retailing, but shopping operators believe that Filipinos will continue to patronize malls as a lifestyle destination and not just for shopping.

“The new position is a step up from his recent role as the mall’s chief operating officer (COO), continuing SM’s legacy of retail innovation and customer service toward enhancing every shopper’s malling experience,” SM Prime said in its statement.

Tan’s new position underscores the rapid and dynamic changes in Filipino consumer behavior, it said.

“Tan’s focus on building meaningful shopping experiences consistently throughout his career prepares him for this next phase,” SM Prime president Jeffrey Lim said.

Tan led the launch of SM Prime’s premium malls including the SM Mall of Asia in Pasay City in 2006.

He also led the group’s foray into upscale malls, such as the SM Aura Premier in Taguig City, which was launched in 2013.

He has been the head of operations for SM Supermalls in both the Philippines and China in his capacity as senior vice president and as COO.

Tan acquired his Master’s Degree in Business Administration from Paris School of Management. He began his career in hospitality management in various hotel properties in Asia including Taipei, Taiwan and Shanghai, China before returning to the Philippines to pursue his career in marketing and communications industry.

SM Prime’s core businesses include malls, residential developments and commercial segments.

In the January to September 2019 period, SM Prime recorded an 18 percent growth in net income to P27.60 billion from P23.44 billion a year ago.

This was on consolidated revenues of P85.03 billion or a growth of 14 percent from P74.56 billion a year ago.

As of end-October 2019, SM Prime has 81 malls – 74 in the Philippines and seven in China.