Shopping mall operator SM Prime Holdings Inc. is further expanding SM Xiamen City in China, its first development outside the Philippines, with a new commercial concept and is planning to operate beyond mall hours.
The company said it will open its P1.5-billion Chao Block, which is an extension of existing malls in the development, targeting the younger population in the area.
The 19,403 square-meter Chao Block is envisioned as a ‘neo-urban block’ that extends beyond the traditional mall model.
Developed with a diverse mix of tenants and partners, it will bring together independent founders, local entrepreneurs, cultural curators and first-to-market concepts.
Tenants will be encouraged to go beyond operating stores by hosting workshops, product launches, exhibitions, community events and brand collaborations.
‘SM Xiamen City holds a distinct place in our company’s history. Being our first overseas investment, it has served as a long-term platform for learning, expansion and growth in China,’ SM Prime President Jeffrey C. Lim said.
‘As Xiamen continues to develop, we intend to keep strengthening the property and the local entrepreneurs so it remains an important part of the city’s commercial landscape.’
The name ‘Chao’ draws on the idea of a fourth state of matter beyond water’s three conventional forms-liquid, solid and gas-representing openness, fluidity and the limitless potential of co-created commerce.
The first phase of Chao Block is scheduled to open in September this year, while the second phase is targeted for completion in the fourth quarter of 2027.
Established in 2001 as a one-stop destination for the mainstream consumer market, SM Xiamen City has continued to evolve with the changing needs of the surrounding community.
In 2009, the property expanded and added 109,922 square meters of gross floor area (GFA), repositioning it as an upscale lifestyle shopping center. In 2022, it added a further 129,195 square meters of GFA and refreshed its tenant mix to respond to younger consumers and growing demand for social and experiential spaces.
SM Xiamen City is now a major shopping, dining and leisure destination, from a sleepy town just more than a decade ago. It hosts more than 500 stores, including international brands such as Apple Store, Sephora, Maison Le Fame, Lululemon, alongside a Walmart and a broad selection of restaurants and cafés.
‘China’s commercial real estate market is highly competitive, but the support of our tenants and customers has kept SM Xiamen City relevant. As we mark our 25th anniversary, we look forward to bringing a new commercial format to the next wave of consumers, entrepreneurs and brands,’ Lim said.