November 5, 2024 | 12:00am
MANILA, Philippines — SM China, a subsidiary of SM Prime Holdings Inc., has made it to the GuanDian Index Research Institute’s “Performance Index: 2024 Commercial Real Estate Performance” list, with the company cited for its outstanding performance in operations, management, branding and innovation.
The annual performance index of GuanDian, a provider of industry information and data analysis in China, recognizes remarkable performance in the commercial real estate industry based on rigorous research and analysis.
SM China has actively pursued a strategy of “deepening roots in Fujian, expanding across China” this year.
SM said this included introducing the voco brand in Fujian through the SM Xiamen voco Hotel, completing the SM International Center, breaking ground on SM City Fuzhou and opening SM Xiamen Wong Street.
SM Xiamen voco Hotel, SM’s first hotel in China in partnership with InterContinental Hotels Group, is targeted to open in the second half of 2025.
Meanwhile, SM City Fuzhou, the SM Group’s first mall in Fuzhou City, broke ground last September.
SM Prime currently operates eight malls in China, including SM City Xiamen, SM City Jinjiang, SM City Chengdu, SM City Suzhou, SM City Chongqing, SM City Zibo, SM City Tianjin and SM City Yangzhou.
“This award reflects SM Supermalls’ unwavering commitment to excellence and innovation. As SM continues to expand its footprint both locally and internationally, the company remains dedicated to delivering exceptional shopping experiences and building stronger community ties,” the company said.
GuanDian has also named SM Supermalls president Steven Tan as the “Most Prominent Commercial Real Estate Contributor of the Year.”
The award recognizes Tan’s leadership and significant contributions to the commercial real estate industry.
SM Supermalls said that Tan has been instrumental in the growth and innovation of the mall chain not only in the Philippines but also in China.
SM has successfully navigated the challenges of the pandemic under his leadership.
“His innovative strategies, such as adapting the tenancy mix, creating new experiences and embracing omnichannel services have resonated with modern shoppers. As a result, SM surpassed pre-pandemic performance and continues to expand its footprint with new malls in both countries,” SM Supermalls said.
In the past, Tan’s leadership has also been recognized internationally with awards such as the 2021 Asia’s Most Influential by Tatler Asia and the 2022 Global Filipino Executive of the Year.
Tan said that SM Supermalls prioritizes adapting to evolving customer needs and gaining competitive edges through localized operations.
“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,” he said.
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