SOUCE: China Business News
Date : 2010.12.03

The Philippines’ SM Group announced the plan to invest RMB 3 billion to establish the world’s largest free-standing shopping center in terms of commercial space in Binhai New Area, Tianjin. Facing the restriction against foreign investors, SM Group President Mr. Hans T. Sy said what the company dose is long-run investment, rather than pursuing short-term profits, because it will take about 10 years to retrieve investment in shopping centers. Instead, SM Group has received the support of the government, he added. The SM Tianjin Shopping Center will have an area of 530,000 square meters, larger than 74 international standard football fields. It is expected to start business at the end of 2013. SM Group also plans to open four to five large shopping centers in second-and third-tier cities in China over the next five years, Mr. Hans T. Sy said.