SM Prime president Jeffrey Lim ruled out a listing for the real estate investment trust (REIT) listing this year due to poor market conditions.
One of its largest projects is the $3 billion mixed-use reclamation project rising in Manila Bay.
Set to be completed by 2028, the project spans 360 hectares—larger than the Bonifacio Global City development in Taguig.
To help finance its pipeline, SM Prime will rely on internal cash and external borrowings.
Lim said the company will also tap the bond market within the first half and raise about P30 billion.
This will be sourced from its P100 billion bond program that was earlier filed with the Securities and Exchange Commission.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
