BANGKOK, THAILAND - Media OutReach Newswire – 10 December 2024 - Jeffrey C. Lim, President of SM Prime Holdings, Inc., has been instrumental in transforming SM Prime into a leading property conglomerate, a journey now recognized with the Eminent Leaders in Asia Award at the Asia Corporate Excellence & Sustainability (ACES) 2024 Awards.
As a founding member, Lim has been with the company through significant milestones, including consolidating SM Group's property units in 2013 to establish SM Prime as the Philippines' largest property conglomerate. Since his promotion to President in 2016, he has driven an expansive, sustainability-focused strategy that has fueled the company's growth and solidified its commitment to responsible development.
Founded in 1994, SM Prime has evolved from a mall developer into an integrated property developer, recognized for its transformative approach to sustainable urban development across Southeast Asia. This evolution from a focused mall owner to a diversified real estate leader reflects the company's proactive response to changing market dynamics and its dedication to long-term, responsible growth.
Today, SM Prime boasts a comprehensive portfolio encompassing malls, residential properties, office spaces, hotels and convention centers. Notably, in 2017, it became the first company on the Philippine Stock Exchange to surpass the one trillion peso market capitalization threshold, setting a new benchmark in the country's corporate landscape.
Under Lim's management, SM Prime has become a vital contributor to economic growth in the Philippines. Its extensive mall network, which began with just four malls in 1994 and has now expanded to 87 in the Philippines and eight in China, supports over 22,000 local businesses and covers over 11 million square meters of gross floor area. Through SM Development Corporation (SMDC), the company has also developed over 184,000 residential units, addressing critical housing needs while supporting local economic development.
SM Prime has also made significant strides in the hospitality sector with 10 hotels, six convention centers and two trade halls, further stimulating tourism and creating local employment opportunities. Its developments are designed to be economically inclusive and supportive of small businesses, generating a lasting positive impact on the communities they serve.
Sustainability is deeply ingrained in SM Prime's corporate philosophy. The company has set an ambitious target of achieving net-zero greenhouse gas emissions by 2040, aligning with global standards and partnering with WWF-Philippines to advance renewable energy adoption, energy efficiency, and sustainable construction practices. Water stewardship is another key element of SM Prime's sustainability initiatives, with the company recycling over 4.4 million cubic meters of water in 2023.
Furthermore, a comprehensive waste management program underscores SM Prime's dedication to environmental responsibility. In partnership with Japan-based GUUN Co. Ltd, SM Prime is developing infrastructure to enhance waste management and resource recovery, aiming to reduce landfill waste. In 2023 alone, SM Prime managed 165.7 million tonnes of waste, with significant portions recycled, reused, or composted, reflecting a commitment to a circular economy and a waste-free future.
Lim's leadership style is characterized by a focus on collective success and employee empowerment. "Our success at SM Prime is a testament to the dedication and hard work of our entire team," Lim shared. "This recognition from the ACES Awards reaffirms our commitment to creating spaces where people and communities can thrive."
Lim believes that true leadership involves fostering collaboration and aligning the company's vision with a broader purpose. His focus on well-being and inclusivity in the workplace has cultivated a culture that values each employee's contribution and encourages growth. This has positioned SM Prime as a company where people feel empowered and motivated.
The ACES Awards, organised by MORS Group, aims to highlight industry leaders who have made significant contributions to sustainable development and business excellence across Asia. Shanggari B, President of the ACES Awards, praised SM Prime and its leadership, stating, "Jeffrey Lim's leadership is a testament to what can be achieved through dedication and integrity."
As SM Prime embarks on its next phase of growth, the company remains focused on bringing world-class, sustainable developments to the Philippines, inspired by its commitment to community impact and environmental stewardship. The ACES Eminent Leaders in Asia Award is a significant milestone, reinforcing SM Prime's role as a leader in shaping the future of real estate and urban development across the region.
Hashtag: #ACESAwards2024 #SMPrime #EminentLeadersinAsia #RegionalRecognition #leadershipexcellence
https://www.smprime.com
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About SM Prime
SM Prime Holdings, Inc. is one of the biggest integrated property developers in Southeast Asia and the largest in the Philippines. Known for its commitment to sustainable urban development and positive community impact, it has a diverse portfolio that includes malls, residential properties, and commercial spaces. This has made it a key player in driving economic growth and enhancing the quality of life across the Philippines
source: SM Prime Holdings, Inc.
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