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SM Prime Holdings Inc. of retail tycoon Henry Sy quietly opened its sixth mall in China—SM Zibo—during the last quarter of 2014.
SM Prime chief finance officer Jeffrey Lim said SM Zibo had a soft opening, with the department store and the supermarket of the mall opened to the public. Once all tenants are ready with their outlets, a grand opening is set sometime in April.
SM Tainjin, which will be the group’s seventh and biggest mall in China, is also on track with its opening slated in the latter part of 2015. SM Zibo will add 154,000 square meters of leasable space to SM Prime’s total area, while SM Tianjin will offer 540,000 sq. m.
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