SM to open fourth mall in China

SM Prime Holdings Inc. is set to open its fourth mall in China on Friday. In a statement to the Philippine Stock Exchange on Thursday, SM Prime said the SM City Suzhou in mainland China's Jiangsu Province will be its fourth after SM City Xiamen, SM City Jinjiang, and SM City Chengdu. The cities of Xiamen and Jinjiang are in China’s Fujian Province, while Chengdu is in the Province of Sichuan. "The mall's launching affirms SM Prime's keen objective to continue growing and expanding in areas of opportunity, even in those beyond the boundaries of the Philippines...the company intends to open several new more malls in China in the coming years," said Hans Sy, SM Prime president. SM City Suzhou is located in the Wuzhong District. It has a gross floor area of 72,552 square meters, 89 percent of which has already been awarded to various tenants. The shopping mall's major tenants are Vanguard Hypermarket, SM Department Store, KFC, Jack & Jones and Wanda Cinema. The city of Suzhou in China has a population of approximately 6.3 million and has several export processing zones and industrial parks. Its many industries include electronics, information technology, and biotechnology. The city is also known for its temples, gardens, and ancient water towns. -- CMA, GMA News