SM Prime ranks first in profits

The Philippine Stock Exchange’s 2023 Real Estate Enterprise Business Report has been released.

Ayala Land is No. 1 in revenue, SM Prime is No. 1 in profit,
Ayala Land and SM Prime are always competing for the top spot.
These two major conglomerates are particularly large among the conglomerates in the Philippines, and if you live in the Philippines, the commercial facilities and condominiums of SM and Ayala are the ones that come first.
While all companies are growing at a tremendous rate, these two are by far the best.

While SM dominates Manila’s resort area, Ayala dominates Manila’s most luxurious malls.

“Ayala Land’s total revenue increased by 18% year-on-year to PHP 148.9 billion, and its attributable net profit increased by 32% to PHP 24.5 billion, while it is competing with Ayala Land for the top spot as the largest shopping mall developer in the Philippines. SM Prime Holdings’ revenue increased by 21% to P128.1 billion; attributable net income increased by 33% to P40.0 billion;
Although Ayala Land maintained its top position in terms of revenue, its attributable net profit remained at about 61% of SMPH.
Furthermore, SMPH’s attributable net profit of P40 billion is higher than the P38.1 billion in 2019. Additionally, SMPH’s shopping mall rental income increased by 24% to 61.3 billion pesos, and Ayala Land’s shopping mall rental income increased by 31% to 21.1 billion pesos, showing strong performance overall. ”
-Quote Philippine economy, finance, investment information-

It looks like the good fight will continue and the Philippines will grow significantly!