Banking on history: SM’s efforts at heritage preservation

A group of students and faculty hand sign a thankful message following the rehabilitation of their facilities at the Philippine School for the Deaf (PSD). 

SM is making progress in the preservation of cultural landmarks, demonstrating its commitment to generating long-term social benefit in addition to financial success. 

SM, through the Henry Sy Foundation and the SM Foundation, recently completed the restoration of the West Visayas State University's (WVSU) Quezon Hall in Iloilo City, a genuine educational and architectural landmark protected by the 2009 National Heritage Act, as identified by the National Historical Commission of the Philippines. 

SM has long complemented its national economic expansion with programs that promote growth and well-being in the areas where it operates, with recent social expenditures including the restoration of architectural monuments.

“These cultural landmarks are irreplaceable—once lost, we cannot bring them back. Preservation is a collective responsibility. It goes beyond installing commemorative plaques; it means breathing new life into these spaces so they continue to serve, inspire, and remain accessible to future generations. In restoring these heritage educational institutions, we honor the generations of learning they have nurtured. Our hope is that through preservation, we help spark more opportunities for education and personal growth—not just today, but for many years to come.” ~Deborah P. Sy, Executive Director of SM Foundation

The restoration project strictly adhered to the guidelines set by the NHCP to ensure its structural and cultural integrity. While keeping the building’s original character intact, modern sustainable features were mindfully integrated, including energy-efficient lighting, inverter air conditioning units, and the use of paint with light reflective finishes to optimize energy consumption. 

“I believe it is captured already in this slogan: People Helping People. The two foundations and WVSU have a common understanding on the pursuit of changing people's lives for the better.” ~Julius Undar, WVSU Chief Administration Officer

According to the United Nations Educational, Scientific, and Cultural Organization (UNESCO), heritage sites are critical for societies because their preservation not only establishes an inherent cultural value for future generations, but also has the potential to contribute to social, economic, and environmental goals. 

Last year, the Philippine School for the Deaf (PSD) finished the renovation of its senior high school building laboratory facilities.  PSD was founded in 1907 with the goal of providing educational opportunities for people with disabilities.

SM, through the Henry Sy Foundation and SM Foundation completed the restoration of West Visayas State University’s (WVSU) Quezon Hall in Iloilo City.

The SM Group collaborated on the project with Pasay's Department of Education (DepEd) and the city's local government unit. Modern learning facilities were built to supplement the century-old school and transform it into an inclusive learning hub, complete with areas for practical learning in electronics, computer technology, and the performing arts.

Taal Vista Hotel, a pre-World War II jewel that opened in 1939, exemplifies SM's commitment to cultural preservation. 

In 1936, Commonwealth President Manuel L. Quezon envisioned building a hotel near the Tagaytay peak with the best view of Taal Lake.  Mr. Henry Sy Sr. had a special connection to the hotel because he used to frequent it.  The SM company purchased it in 1988 and renovated the 25-cabin lodge into a 262-room hotel with modern renovations such as a new wing to accommodate more conference facilities, events, and first-rate services.

Another example is the restoration of China Banking Corporation's (China Bank) original headquarters in Binondo, Manila.  The Binondo Heritage Restoration Project restored the bank's century-old building to its previous Neo-Classic Beaux Arts brilliance.  The restoration became the focal point of China Bank's centenary celebration in 2020. 

In 2021, China Bank was awarded a historical marker by the NHCP and an Important Cultural Property marker by the National Museum, recognizing the bank's consistent dedication to preserving not only its business history but also the national legacy.

About SM Investments Corporation

SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth largest private domestic bank.

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