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rafael smallwood

Rochester, NY, United States

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SM Prime wins real estate award in Singapore

SM Prime Holdings, Inc. (SM Prime), the Philippines' dominant mall developer and operator, won the Emerging Markets Highly Commended award from the Singapore-based Asia Pacific Real Estate Association (APREA).

The recognition received by SM Prime forms a part from the inaugural 2010 APREA Very best Practices Awards. It will be presented to SM Prime on September 15, 2010 in Singapore.

APREA is really a non-profit business association that represents the authentic estate sector in the Asia Pacific region.

The association works to encourage greater investment inside actual estate sector through the provision of far better info to investors, improving the general operating environment, encouraging finest practices, and usually unifying and strengthening the market.

According to APREA's chief executive officer Peter Mitchell, a total of 23 high high quality submissions were received from numerous listed firms in seven regional exchanges for the incredibly initial staging from the awards.

He further explained that an awards panel of institutional investors spent many hours reviewing the several outstanding submissions.

Currently, SM Prime owns and operates 37 SM shopping malls in the Philippines, with a combined gross floor area of approximately 4.6 million square meters and an average daily foot traffic of 2.5 million.

In addition, the business has three SM malls in mainland China.

For the rest of 2010, SM Prime is scheduled to open three new malls in the country and 1 a lot more in China.

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