On June 23, the land 20200HP02, the western area of Maluan Bay of Haicang District, was auctioned in Xiamen Municipal Administration Service Center. SM China won this land at the base price of 443 million yuan.

Auction Site

 Johnson Co, General Manager of SM China Region, raising the board for bidding

SM signing the sales confirmation

The plot, with an area of 28,954.442 sqm., is located at the southeast side of the intersection of Fulian Road and Dongfu West Road in Maluan Bay Area of 05-06 Haicang District. The land is used for retail business and public facilities.

land sketch map

According to land planning, SM China is predicted to build a new lifestyle city complex that covers the total area of about 140,000 square meters with investment totaling over 1 billion yuan. Featuring experience excellence of being comfortable, fashionable, leisure, interesting, united and feasting, the newly-built shopping center will integrate boutique and supermarket, fashion and entertainment, children and home, food hall, altogether with other lifestyles. Link to Lindai station of Metro Line 6, the project is designed to be equipped with over 900 parking plots. Since its operation, this complex will promote the business upgrade of Maluan Bay New Town, bringing novel experience of modern and fashion city life.

SM China's early visit to the targeted plot

Johnson Co, General Manager of SM China Region, said: "'Landing in one city, taking root in one city'. SM Group's first investment in China is Xiamen. So far, in line with brand development, SM China has lived with Xiamen for 19 years. As the newly-developing western bay area of Xiamen, Maluan Bay New Town possesses considerable potential in business. SM China looks forward to developing with it side by side."

In early stage, SM China has frequently negotiated with the Construction Headquarter of Maluan Bay New Town and Haicai District Government on the issue of investment promotion. At 2019 China International Fair for Investment & Trade, SM China signed the agreement on three-party investment intension. Through this public land auction, SM officially bid for this land for investment.

SM signed the agreement on investment intension in Maluan Bay at 2019 China International Fair for Investment & Trade,