SM Prime Holdings, Inc. was incorporated in the Philippines in January 1994 as part of the wider SM Group founded by visionary entrepreneur Henry Sy Sr. The corporation was established to consolidate the group's mall operations and rapidly expanded by opening flagship commercial shopping centers, starting with SM City North EDSA and SM Megamall. Over subsequent decades, SM Prime evolved from a domestic shopping mall operator into one of the largest integrated property developers in Southeast Asia, expanding its portfolio to encompass residential condominiums, commercial office towers, hotels, and massive convention centers across the region.