EXCEPRT

Property developer SM Prime Holdings Inc. (SMPH) expects to post a strong performance in the second half of the year, but this may not be enough to surpass its pre-pandemic numbers, such as foot traffic in its malls.

SM Prime President Jeffrey Lim said things are getting better after the government eased the restrictions in Metro Manila and nearby provinces, resulting in a foot traffic “close to pre-pandemic [levels] during weekends” in its malls.

“We believe that even if we’re not able to reach a pre-pandemic level before end of the year, at least we should target between 80 to 90 percent (of 2019 figures). So we are optimistic about the prospect for 2022,” he said.

READ FULL ARTICLE HERE