On October 31st, the prestigious 2024 GuanDian Commercial Annual Meeting unfolded in Shanghai, welcoming Mr. Steven Tan, President of SM Supermalls, to deliver an insightful keynote address on commercial trends. During the event, GuanDian unveiled its "Performance Index: 2024 Commercial Real Estate (CRE) Performance," recognizing both SM China in the corporate sector and Mr. Steven Tan in the individual category for their outstanding achievements.
In the first half of 2024, final consumption expenditure contributed over 60% to economic growth, supporting the recovery and stability strongly. Industry leaders in attendance concurred that policies prioritizing consumption boosted market confidence. President of SM Supermalls, Mr. Steven Tan, highlighted ample opportunities but a diverse competitive landscape in his keynote speech.
SM Supermalls prioritize adapting to evolving customer needs and gain competitive edges through localized operations. Mr. Tan emphasized, "SM Malls are hubs where communities thrive, where people come together, connect, and experience a shared sense of belonging. We are creating real, lasting impact that helps build stronger, more inclusive communities where everyone belongs."
On the honorary night, GuanDian Index Research Institute, announced its highly anticipated "Performance Index: 2024 Commercial Real Estate Performance" after conducting extensive field research, surveys, corporate interviews, and data analysis. The List recognized SM China under the category of company for its outstanding achievements in operations, management, branding, innovation, and others, reflecting the industry's and the institute's wide acknowledgment of its prowess in the field.
In 2024, SM China accelerated its strategy of "Deepening Roots in Fujian, Expanding Across China." In May, it officially signed with InterContinental Hotels Group to introduce its premium brand, voco, to Fujian for the first time through the "SM Xiamen voco Hotel," SM's first hotel project in China. In Sept., SM China's first office project, SM International Center, completed the construction of its first three towers and commenced leasing; SM City Fuzhou, SM’s debut in the provincial capital city of Fujian, broke the ground; SM Xiamen WONG STREET, an emerging dining destination and trendy lifestyle block, opened.
Furthermore, the construction of SM City Haicang and SM Xiamen CHAO STREET is swiftly progressing, with both anticipated to open next year.
Based on comprehensive criteria encompassing leadership, innovation, social contribution, corporate performance, and industry influence & reputation, GuanDian Index Research Institute awards the prestigious "Award for Most Prominent Commercial Real Estate Contributor of the Year" exclusively to Mr. Tan for his comprehensive performance in Asian commerce.
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