By James A. Loyola
SM Prime Holdings, Inc. (SM Prime), one of the largest integrated property developers in Southeast Asia, has appointed Jose Mari Banzon as President of SM Development Corporation (SMDC), its primary residential arm.
He takes over the leadership post formerly held concurrently by SM Prime President Jeffrey Lim.
“Banzon takes on this new position from his recent role as executive vice president, where he led the company’s impressive growth,” said SM Prime in a disclosure to the Philippine Stock Exchange.
The firm said that, under Banzon’s leadership, SMDC expanded its product portfolio into new real-estate formats that span vertical and horizontal residential projects, commercial buildings and mixed-use developments.
It added that, his determination to maximize the company’s operational efficiency and his drive to provide professional customer management solidified SMDC’s strong presence in the Philippine real estate market.
“Mr. Banzon’s new position puts him at the forefront of SMDC’s aspiration to establish new markets in the Philippines and in Southeast Asia,” Lim said.
He noted that, “his unique experience and broad outlook of an international executive and a global Filipino makes him well-placed to lead SMDC moving forward.
Banzon’s appointment at the helm of SMDC “guarantees the fulfillment of its vision to uplift the Filipinos’ lifestyle through modern, convenient, upscale yet affordable homes,” said SM Prime.