SM(Philippines) Tianjin China Largest Mall In The World by 2018

'The project of our lives' The executives also revealed that the construction of SM City Tianjin, a nearly 3 billion RMB ($483 million) development, is expected to be completed this year. "We call it the project of our lives, for SM China," Brosas said, describing the 540,000-square meter property that is 28 minutes away from Beijing by train and 90 minutes by car. SM Tianjin will become a destination mall with numerous attractions, such as a Science Discovery Center, an ice skating rink, aquarium, game center, and a 5-star cinema and gym to fulfill its vision as an "entertainment and relaxation paradise," an SM statement said. "We need to be very aggressive in China because of the competition," Brosas said. SM China CEO Gary Yeo said that SM chooses second- and third-tier cities in China since it entered the country "a bit late." Properties in first-tier cities, like Beijing and Shanghai, have become very expensive.Brosas explained that SM wants to develop properties in areas with no development yet as it wants "to be part of the development of the city." "SM Xiamen is one of the big examples of that trend. And all our malls are not in the city but in the outskirts and we develop together with the city," he said. Brosas said SM China has newly-acquired properties in Jiangsu province. "We'll begin construction in Yangzhou this year, by May, and we're planning to open it first quarter of 2017." Yeo said part of the future strategy of SM in China is real estate development, starting with the construction of condominiums near its mall in Chengdu. SM currently operates 5 malls in China, while 4 more are under construction, including SM City Zibo in Shandong, which is set to open this year. SM Prime earlier said that it would continue to spend P20 billion ($448.58 million) annually in China as part of its capital expenditure (capex) until 2018. (READ: SM Prime sets P20-bilion annual budget for China expansion)

Comments

1. SM MALL OF ASIA Is Ongoing Expansion!
   If The Expansion Is Complete,It Will Ranked As The World's Largest Mall
   Square Meters:700,000+
   Surpassing SM Tianjin With 500,000+ Square Meters
2. People complain about why SM is choosing another country for location, but let us try to understand their decision through a long term investment and high capital return perspective. Most Corporate brands desire a global level of revenue acquisition that is very stable. Being isolationistic is very bad business and prevents a company from growing and expanding its influence. Having overseas influence gives a company a high investment grade since they are making more money. In turn, this gives a company more assets to do their own form of investments. While most Filipinos will see that the choice would hurt tourism since the Mall of Asia is the current largest Mall in Asia, try to understand that this decision will raise the SM's standard of its home locations and bring more revenue for future infrastructure projects. Also, the Philippines is relatively small and have not utilized most of its land mass. The environmental implications would bring a lot of red tape since SM would need to purchase land grants from the government at locations that are environmentally pristine.
3. This what you call blood will be always thicker than water..Why poured your assets to China when you can do it to Philippines? Why not build it in the Philippines and make the country that made you richer reaps the economic benefit?? As they say, chinese in the Philippines will always be chinese. The allegiance will always be for the red flag, not with the flag with three stars and the sun. What a shameful reality...Gising mga Pilipino....
4. Goood video. Nice!
5. fuck you
6. Cool
7. henry sy as a great business man
8. BLOOD SUCKERS.....CHINESE!!!! GREEDY, SON OF BITCHES!!!!!!!!
9. mas mgnda du qc maluwang ung lot area dun jn pinas sa pinas wla space over crouded n
10. So now where's the economics of Philippines?? How's the new president of that country??
11. why in China....MY ADVISED IS YOU MAKE A BIG MALL IN PHIL LIKE WHAT YOU ARE DOING TO CHINA
12. They forgot about seaside sm...
13. henry is a sucker of ofw dollars
14. ano ba yan bakit sa China pa wag na tayo mag sm dapat dito dahil dito siya umunlad?!???
15. Thats a dick
16. wtf the last pic of sm in china looks like a penis
17. i kept hearing the "audio jungle" whispers in the background.. something tells me it has a cryptic message to it
18. Ayala forever
19. Henry Sy is a great asset to the Philippine Economy.
20. Bakit sa Ibang bansa pa? Sa Pinas naman nila kinita yung pampapagawa nila nun, tapos dun pa nila itatayo. Sayang, kung sa Pinas yan ginawa baka tataas pa turismo.