Billionaire Sy Family’s SM Earmarks Up To $1.6 Billion To Expand Philippine Property, Retail Footprint

SM Investments—controlled by the family of the late billionaire Henry Sy Sr—has earmarked as much as 90 billion pesos ($1.6 billion) in capital expenditures this year to expand its real estate and retail footprint across the Philippines, betting the country’s economic growth will remain robust.