SOUCE: China Real Estate Business
Date :2010.12.13

On November 27, SM Group announced it would invest RMB 3 billion to establish SM Tianjin Shopping Center in Tianjin’s Binhai New Area in 3 years. With total area larger than 74 international standard football fields, SM Tianjin Shopping Center will become the world’s largest free-standing shopping center in terms of commercial space upon completion. What SM Group favors is the huge economic potentials of Tianjin, and the company is accustomed to entering the market before rather than after the market matures, SM Group President Mr. Hans T. Sy said. Thanks to the “for lease only” mode, SM Group gets the great support of the local government of Binhai New Area, because the government appreciates such investment mode that attaches importance to the long-run development, said Mr. Hans T. Sy. SM Group will open four to five large shopping malls in China over the next five years. In future, it may enter other industries like retail, finance, real estate and tourism in China.