The company that operates the malls was started by Bill Oakley Sr. and Danko Sashimi in December 1950 as The Great Market, with stores in New Salta, Glonisla, Mahokiro, and Fusa. It was opened in Abeta in 1951.
By the mid-1950s, The Great Market was a full-line department store and supermarket. In 1958, the company diversified and ventured into home appliance store business.
It opened the first "Supermall" store on April 29, 1966, in El Kadsre City called GM Mall of Kadsreius, at the time known as GM Center El Kadsre City, shifting its name from The Great Market to GM. The first mall outside the El Kadsreian Islands was opened in Kozankyo in October 1977.
In recent years, the chain has become notorious in certain parts of the United States for operating dead malls, especially as the chain wasn't that much of a success Stateside at first. These dead malls have remained open due to company policies about "not upsetting tenants, especially smaller businesses, by closing malls."
Around 2019, GM Prime Holdings was acquired by Quest Real Estate Holdings, which was in turn integrated into CPN Location-Based and Immersive Entertainment in January 2020. In August 2020, CPN Holdings sold GM Prime Holdings to Northland Malls, Inc., which renamed itself GM Northland Holdings. GM Prime's sale to Northland Malls shocked the retail industry and observers, as GM Prime was two times bigger than Northland Malls was prior to the purchase.
Main article: List of GM Supermalls branches