SMIC transfers Nagtahan firm to SM Prime

MANILA, Philippines – SM Investments Corp. (SMIC) has transferred its controlling stake in Nagtahan Property Holdings Inc. to listed property arm SM Prime Holdings Inc., as the Sy-led conglomerate consolidates property assets within its real estate business.

In a disclosure on Monday, SMIC said it completed the sale of 199,725 common shares, equivalent to 99.72 percent of the outstanding capital stock of Nagtahan Property Holdings, to SM Prime on July 13.

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Nagtahan Property Holdings is a landholding company. According to the filing, the transfer is intended to consolidate leasable assets and related property interests under SM Prime to enhance operational efficiency and improve asset management.

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The transaction was settled through cash consideration, although SMIC said the amount was immaterial, representing less than 10 percent of the conglomerate’s total assets. The consideration was based on the mutual agreement of the parties.

SM Prime, the buyer in the transaction, is a wholly owned subsidiary of SMIC and serves as the group’s flagship integrated property developer.

The internal transfer effectively places the Nagtahan property assets directly under SM Prime, which manages the conglomerate’s portfolio of malls, offices, hotels, convention centers and residential developments.

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The board of directors approved the transaction in September 2025, while the share purchase was completed last July 13.

The disclosure did not identify the specific properties held by Nagtahan Property Holdings or provide additional financial details beyond describing the consideration as immaterial.

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SMIC likewise said the transaction would have no effect on the company’s business, financial condition or operations, underscoring that the move is part of an internal reorganization rather than an acquisition involving an external party.

The latest transaction continues the group’s strategy of streamlining its property holdings by placing related assets under SM Prime, allowing the listed developer to manage leasable properties more efficiently while supporting the long-term development and optimization of the SM group’s real estate portfolio. INQ

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