It began with a dream. A young businessman with a deep sense of social consciousness and the desire to succeed. Thought of providing every Filipino a pair of shoes. It was a simple goal envision right after the ravage of World War II. That visionary was our Tatang, Henry Sy Sr. Today, the empire built from a simple shoemart became the Philippines’ most giant conglomerate, the SM Group of Companies.
SM Development Corporation History
SMDC was incorporated in the Philippines in 1974 as an Ayala Fund, Inc., a closed and limited company limited by shares. A year after, the company was listed in the Philippine Stocks Exchange. March 1986, the SM Group of Companies took majority ownership and was renamed from Ayala Fund, Inc. to SM Fund, Inc. It was again renamed in May 1996 as SM Development Corporation, the current leading real estate developer in the Philippines and entire Southeast Asia.