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Philippines: Billionaire to merge businesses, create nation’s biggest developer

By  |  May 31, 2013

Philippine billionaire Henry Sy has announced plans to merge his property assets into one company, SM Prime Holdings Inc., which would create the nation’s largest developer, say reports. The move will see the combination of SM Land and SM Prime and will acquire additional assets of parent company SM Investment Corp. SM Prime currently stands as the nation’s largest shopping mall operator and, according to reports, the new consolidation will allow the company to pursue additional property ventures including homes, hotels and resorts. The news came in an email statement sent by SM Prime and its parent company.

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