SM Investments Corporation
SM Investments operates Philippines' largest conglomerate spanning retail (SM malls, supermarkets), banking (BDO), and property development. Founder Henry Sy built empire from single shoe store (1958) to 80+ malls dominating Philippine retail landscape. SM's integrated model - owning malls, anchor tenants, and bank financing - creates ecosystem that compounds advantages. The group's property holdings appreciate as commercial development increases land values.