The real estate giant acquired Nagtahan Property Holdings Inc. from parent company SM Investments Corp. through a cash transaction completed on July 13.
Nagtahan Property Holdings is a landholding company that owns the site where the Savemore Nagtahan Market operates. The supermarket, operated under the group’s retail business under SM Investments, has a gross floor area of roughly 5,000 square meters.
“The transfer is intended to consolidate leasable assets and related property interests to enhance operational efficiency and improve asset management,” SM Prime said in a stock exchange filing on Monday.
The property sits along Ramon Magsaysay Boulevard, one of Manila’s busiest transport corridors, near the Nagtahan Rotonda and just over a kilometer from Malacañang Palace.
The disclosure did not indicate whether SM Prime has longer-term plans for the site beyond its current use as a Savemore supermarket.
—Edited by Miguel R. Camus
