SM City Fuzhou held a groundbreaking ceremony in Cangshan District, Fuzhou City on September 23. This signifies the beginning of the construction of the newest SM mall in China, the first SM supermall in Fuzhou City, developed by SM Group, one of the largest integrated property developers in Southeast Asia.
SM City Fuzhou is located at the southwest side of the intersection of ZeXu Avenue and Gaishan Road, which is the emerging heart of Fuzhou's Eastward and Southward Expansion Policy. With a total investment of about 2 billion yuan, the 6-story commercial project will be constructed on over 155,000 square meters gross floor area with 4 levels on the ground and 2 levels underground (composed of the commercial and carpark).
Designs are influenced by the community SM City Fuzhou serve and integrate the city identities of "hills, waters, city, and woods." The project will open up its four-story front-to-the-street commercial area to the public, outline the lush alfresco terrace, and create a layered outdoor square with distinctive waterfront landscape. The outdoor scenery is interspersed with different themed indoor scenes, fully combining multi-functional experience spaces, social scenarios and night economy, enriching its oomph of leisure and fun.
Driven by new lifestyles, SM City Fuzhou is poised to be an innovative and sustainable emerging preference providing a combination of dining, fashion, leisure, culture, entertainment, parent-and-kid, social and gathering, fitness and wellness.
More than 800 motor-vehicle parking slots are proposed to offer more convenience to the community. The new SM mall will be accessible via the Metro Line 1 that connects the south and the north citizens and around 30 bus routes directing to populated living quarters.
Baihu North Park area is a significant gateway terminal for Fuzhou's Southward Expansion Policy. "As a testimony to the continuous progress of Fujian Province, this is another strategic milestone for SM," Mr. Johnson Co, General Manager of SM China said, "The development and operation of SM City Fuzhou will follow our concept of 'enter a city, root in a city' and is expected to contribute to the viability of the core area."
SM Group, founded by Mr. Henry Sy, Sr. in 1958, is a leading Philippine conglomerate that is invested in market-leading businesses in retail, banking and property, and is also active in China’s real estate, retail and financing industries. It owns three blue-chip companies including SM Prime Holdings Inc., BDO Unibank Inc. and China Banking Corporation.
SM Mall of Asia
Since the entering into Chinese market in 2001, SM has invested shopping centers in Xiamen, Jinjiang, Chengdu, Suzhou, Chongqing, Zibo, Tianjin, Yangzhou and Fuzhou cities. Currently, it has 8 operating malls, totaling 2.02 million square meters of GFA.