MANILA - SM Prime Holdings Inc. said Monday it has opened its seventh mall in China, as it pursues its expansion in the mainland.
SM City Tianjin, a shopping center with a gross floor area of 565,000 square meters, soft opened on December 17, the company said in a statement.
“The opening of SM City Tianjin reflects our strong confidence on China’s economy. This gives SM Prime a wider perspective on China’s shopping culture, allowing us to capture bigger opportunities as an international integrated property developer,” SM Prime president Jeffrey Lim said.
SM Prime also has malls in Xiamen, Jinjiang, Chengdu, Suzhou, Chongqing and Zibo and 60 malls in the Philippines. SM Prime has a combined gross floor area of 9.1 million sqm both in the Philippines and China.
SM Prime shares were down 2.78 percent to P28 on Monday.