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SM Prime expands mall portfolio in China with Tianjin launch

SM Prime Holdings Inc. launched SM City Tianjin as its newest shopping mall in China on Dec. 17, marking the opening of its seventh mall in the country.

SM City Tianjin represents the latest expansion of the Filipino property developer's Chinese retail portfolios, which comprises SM City Xiamen, SM City Jinjiang, SM City Chengdu, SM City Suzhou, SM City Chongqing and SM City Zibo. The company said it would continue increasing its investments in China as it saw firm growth in consumer spending there.

In a release, SM Prime said SM City Tianjin was located within the Tianjin Airport Economic Area at the emerging Binhai New Area, which is the largest free trade zone in the northern part of the country.

The retail property has a gross floor area of 565,000 square meters, and counts among its anchor tenants Dadi IFree Cinema, Bravo Yonghui Supermarket, Jiawen, FTZ Korea World, Decathlon, Acasia Food Court and Watsons. At its opening, the mall had been more than 60% leased.

With SM City Tianjin's launch, SM Prime's mall portfolio in the Philippines and China now spans a combined gross floor area of 9.1 million square meters.