September 8, 2025 | 12:00am
MANILA, Philippines — SM Supermalls of the Sy household isn’t solely busy ramping up its community within the Philippines, however in China as effectively.
SM Supermalls president Steven Tan stated the corporate is ready to open a brand new mall in Xiamen subsequent month.
“We nonetheless are increasing our footprint in China. In October, there’s one which we’re opening,” he stated.
Tan stated the brand new buying middle might be a medium-sized mall, spanning roughly 60,000 sq. meters.
It is going to be SM’s ninth buying middle in China and its second mall in Xiamen.
Tan stated one other new SM mall in China would rise in a few years.
“We nonetheless have within the pipeline one in Fujian province two years later. We’re focusing extra on Fujian as a result of Tatang (Henry Sy Sr.), our founder, is from Fujian and we all know the market higher,” he stated.
Tan, nevertheless, stated the SM Group would proceed wanting into alternatives for potential enlargement in different elements of China.
He stated the corporate can be consistently renovating its present community of buying facilities in China.
“If the chance presents itself whether or not within the Philippines or different elements of the world, if we see that it’s possible, we might be there,” Tan stated.
SM opened its first mall in China in 2001 and at present operates eight malls with a complete gross flooring space of round 1.7 million sq. meters.
Other than Xiamen, the corporate additionally has malls in Jinjiang, Chengdu, Zibo, Chongqing, Tianjin, Suzhou and Yangzhou.
Within the Philippines, SM Supermalls is the most important mall operator with 88 buying facilities in its portfolio.
SM Supermalls, which is celebrating 40 years of retail management, will open SM La Union subsequent month, ending 2025 with a complete of 89 malls nationwide.
SM is investing over P150 billion in 16 main redevelopments and 12 new way of life malls to make sure that its complete portfolio evolves into greener, smarter and extra people-centered locations by 2030.
A part of its enlargement initiative within the Philippines is the supply of 1 flagship mall yearly over the subsequent 5 years.
Deliberate initiatives embrace SM Sta. Rosa (Yulo) in Nuvali eyed by 2026, Harrison Plaza in Manila by 2027, SM Malolos in Bulacan by 2028, Cavite by 2029 and Pasay by 2030.
