SM opening 9th mall in China next month

MANILA, Philippines — SM Supermalls of the Sy family is not only busy ramping up its network in the Philippines, but in China as well.

SM Supermalls president Steven Tan said the company is set to open a new mall in Xiamen next month.

“We still are expanding our footprint in China. In October, there’s one that we’re opening,” he said.

Tan said the new shopping center will be a medium-sized mall, spanning approximately 60,000 square meters.

It will be SM’s ninth shopping center in China and its second mall in Xiamen.

Tan said another new SM mall in China would rise in a couple of years.

“We still have in the pipeline one in Fujian province two years later. We’re focusing more on Fujian  because Tatang (Henry Sy Sr.), our founder, is from Fujian and we know the market better,” he said.

Tan, however, said the SM Group would continue looking into opportunities for potential expansion in other parts of China.

He said the company is also constantly renovating its existing network of shopping centers in China.

“If the opportunity presents itself whether in the Philippines or other parts of the world, if we see that it is feasible, we will be there,” Tan said.

SM opened its first mall in China in 2001 and currently operates eight malls with a total gross floor area of around 1.7 million square meters.

Aside from Xiamen, the company also has malls in Jinjiang, Chengdu, Zibo, Chongqing, Tianjin, Suzhou and Yangzhou.

In the Philippines, SM Supermalls is the largest mall operator with 88 shopping centers in its portfolio.

SM Supermalls, which is celebrating 40 years of retail leadership, will open SM La Union next month, ending 2025 with a total of 89 malls nationwide.

SM is investing over P150 billion in 16 major redevelopments and 12 new lifestyle malls to ensure that its entire portfolio evolves into greener, smarter and more people-centered destinations by 2030.

Part of its expansion initiative in the Philippines is the delivery of one flagship mall annually over the next five years.

Planned projects include 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.