SM PRIME Holdings, Inc. has appointed Steven T. Tan as the new president of its mall management unit, Shopping Center Management Corp.
In a disclosure to the stock exchange Tuesday, the Sy-led integrated property developer said Mr. Tan was promoted from his previous role as chief operating officer of SM Supermalls.
“His new position underscores the rapid and dynamic changes in the Filipino consumer behavior. Mr. Tan’s focus on building meaningful shopping experiences consistently throughout his career prepares him for this next phase,” SM Prime President Jeffrey C. Lim was quoted in the statement as saying.
Mr. Tan is noted for leading the launch of several premium malls under SM Prime’s portfolio such as SM Mall of Asia in Pasay City in 2006 and SM Aura Premier in Taguig in 2013.
As chief operating officer and senior vice-president, he was tasked to handle the company’s mall properties in both the Philippines and China. He joined SM in 2004 when he took charge of mall operations for The Podium.
Before joining the company, Mr. Tan was part of the team that formed Barcelo Grand Hotel in Shanghai, China. He also worked at Howard Plaza Hotel in Taipei, Taiwan from 1990 to 1998.
When he returned to the Philippines in 2001, Mr. Tan worked as regional director of marketing and communications at FilBarcelo Hotels and Properties Management Corp. and took charge of its external affairs.
Mr. Tan completed his Masters in Business Administration at the Paris School of Management. He took up Business Management at the University of Santo Tomas for his undergraduate studies.
As of end-September 2019, SM Prime had 73 shopping malls in the Philippines and seven shopping malls in China.
Other businesses of the company are in residential projects, commercial properties, hotels and convention centers.
Revenues from SM Prime’s mall business grew 7% to P46.43 billion in the first nine months of 2019, pushing total revenues up 14% to P85.03 billion. Earnings during the period rose 18% to P27.6 billion. — Denise A. Valdez