MANILA — SM Prime Holdings, the biggest real estate company in the Philippines by market value, expects to surpass its earnings last year, which grew 13% to 18.4 billion pesos ($415 million).

The company’s confidence is anchored in its 2015 expansion plans, which include opening four new malls, five new housing projects and a large office building, according to a company statement on Monday.

SM Prime’s consolidated revenues increased 11% in 2014 to 66.2 billion pesos. The nation’s biggest mall operator said retail and commercial rental revenues climbed 13% to 32.2 billion pesos driven by new shopping centers. Same-store rental revenues rose 7%.

SM Prime’s consolidated revenues increased 11% in 2014 to 66.2 billion pesos. The nation’s biggest mall operator said retail and commercial rental revenues climbed 13% to 32.2 billion pesos driven by new shopping centers. Same-store rental revenues rose 7%.

Sales of cinema tickets increased 14% to 4.3 billion pesos as digital cinemas opened, while amusement and other entertainment revenues grew 8% to 3.3 billion pesos.

SM Prime President Hans Sy described the 2014 results as “encouraging”, and affirming the company’s repositioning in 2013 from a mall builder and operator into a real estate conglomerate.

Company officials say the restructuring has given the company sufficient scale to pursue projects in Southeast Asia, and also in China where SM Prime already operates six malls.

Company officials earlier said SM Prime was looking to mass housing to broaden its footprint and possibly to counter slower growth in other parts of the residential market.