SM Prime Cited for Two Awards in China
Inside SM City Xiamen
(03 April 2014. Pasay City, Philippines.) Property conglomerate SM Prime Holdings, Inc. clinched two major awards recognizing two of the company’s malls in China.
SM City Xiamen in Fuijian province will be awarded the Mall China Golden Mall Awards 2014 Excellent Upgrade. SM City Zibo, which will be opened this year in Shandong province will also be awarded the Mall China Golden Mall Awards 2014 Potential Project. The awarding ceremony will be held on April 7, 2014 at the Marriott Shanghai Hongqiao Hotel.
Mall China Information Center (or Mall China), established in 2002, is the first non-profit organization in Mainland China catering to China’s retail property sector and is the largest shopping center retail organization in China. It has 700 corporate members of investors, developers, operators, retailers and relevant service agencies. Mall China has established close international partnerships with shopping centers or retail real estate associations from more than 10 countries and areas. Mall China established the Golden Mall Awards to promote the best malls and encourage enterprises that have made outstanding contributions to the development of the shopping mall industry. Golden Mall Awards recognize and evaluate recent opening or under-construction projects.
SM City Xiamen will be cited for “great performance in renovation and upgrading”. The mall underwent renovation in 2012 which was completed in February 2013 that consisted of the introduction of upscale fashion brands such as H&M, Uniqlo, UR, Charles & Keith, and popular food and beverage tenants in China such as Yuzhi Sushi, Spoon to name a few as well as enhancements to the shopping environment inside and outside the mall. The SM Store in SM City Xiamen also underwent a major renovation which likewise introduced more well-known international cosmetic brands that made their debut in Fujian province such as Dior, SK2, Benefit, Kiehl’s. Popular restaurants have also opened in the mall.
In June 2013, SM City Xiamen officially launched its 1.1 Megawatt Rooftop Solar Power Project, the first of its kind in Xiamen in line with its commitment to reduce greenhouse gas emissions and optimize energy efficiency in its malls. The project consisted of the installation of 3,740 solar panels on the roof of SM City Xiamen Phase 1 and Phase 2 at the SM Lifestyle Center which is an expansion of SM City Xiamen that caters to the mid to upscale consumer markets.
In September 2013, the footbridge between SM Xiamen and SM Lifestyle Center opened to the public. In November 2013, the parking building of SM Xiamen started construction which would bring more than 500 new parking spaces for customers.
Given these enhancements, sales of tenants have risen by an average of 10% after the renovation as customers now experience a more convenient shopping environment.
SM City Zibo will be recognized for its potential as it opens this year. SM City Zibo is the first shopping mall in Zichuan District spanning over 150,000 square meters in floor space with more than 1,200 parking spaces. As the only large-scale international integrated shopping mall in Zichuan District, SM City Zibo will cater to various markets, primarily on the young fashionistas and residents of Zibo. The mall will also have special facilities for persons with disability, as well as facilities such as lactation rooms for mothers. Last year, SM City Zibo was recognized by CPC Zibo Zichuan District and Zichuan District Government for such facilities.
SM Prime currently operates five malls in China namely in Xiamen, Jinjiang, Chengdu, Suzhou, and Chongqing.
For further information, please contact:
Mr. Jeffrey C. Lim
Executive Vice President and Chief Finance Officer
SM Prime Holdings, Inc.
Tel. no.: 831.1000
Thursday, April 3, 2014