Banking on history: SM’s efforts at heritage preservation

SM is making inroads in the restoration of cultural landmarks that underscores its commitment beyond financial growth to create lasting social impact.

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

SM has long been complementing its business expansion across the country with initiatives that foster growth and well-being in the communities they are in, with the restoration of architectural icons among its recent social investments.

“These cultural landmarks are irreplaceable—once lost, we cannot bring them back,” said Deborah P. Sy, Executive Director of SM Foundation. “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.”

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.

WVSU Chief Administration Officer Julius Undar said, “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.”

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

The improvement of the Philippine School for the Deaf (PSD)’s senior high school building laboratory facilities was likewise completed last year. Established in 1907, PSD’s mandate is to provide educational opportunities for the differently abled.

The SM Group undertook the project in collaboration with the Department of Education (DepEd) in Pasay and the city’s local government unit. Modern learning spaces were constructed to complement the century-old institution and transform it into an inclusive learning hub with spaces for practical learning in the areas of electronics, information technology and the performing arts.

“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.” Executive Director Sy added.

SM’s commitment to preserving heritage is evident in Taal Vista Hotel, a pre-WWII gem opened in 1939.

It was Commonwealth President Manuel L. Quezon’s vision in 1936 to build a hotel along the Tagaytay ridge with the best view of Taal Lake. The hotel held a special place for Mr. Henry Sy Sr. as he frequented the place back in the day. In 1988, the SM group acquired it and transformed the 25-cabin lodge into a 262-room hotel with modern upgrades that include a new wing to accommodate more conference facilities, events, and top-notch amenities.

Another example is the restoration of the original headquarters of China Banking Corporation (China Bank) in Binondo, Manila. Dubbed the Binondo Heritage Restoration Project, the bank’s century-old building was rehabilitated to its former Neo-Classic Beaux Arts luster. The restoration became the centerpiece of China Bank’s centennial celebration in 2020.

In 2021, China Bank received a historical marker from the NHCP and an Important Cultural Property marker from the National Museum which recognized the bank’s unwavering commitment to protecting not only its corporate history but also the national heritage.