The massive network of sprawling shopping malls across the Philippines—including several of the largest retail complexes in the world such as SM Megamall, SM City North EDSA, and SM Mall of Asia—is owned and operated by SM Prime Holdings, Inc. SM Prime is the premier property development subsidiary of the broader SM Group, which was founded by the late billionaire tycoon Henry Sy Sr. and continues to be managed and guided by the Sy family alongside public shareholders.