Simon Says...China?

Retail Traffic Online reported today of a shift in commercial real estate focus-from the US to China. The following is an excerpt from this article.

"In an escalation of its international growth, Simon Property Group Inc. this week became the first U.S. retail developer to commit to the fastest-growing economy in the world as it joins forces with Morgan Stanley Real Estate Fund and SZITIC Commercial Property Co., to develop shopping centers in China. Previously, Simon had talked of working in Japan and Korea, with China being a more long-term goal. But with giant malls going up all over the country -- including projects developed by its Mall of America co-owner Triple Five Group -- Simon has decided to move in. Each project in the joint venture will be an urban, multi-level, retail destination of between 430,000 square feet and 750,000 square feet, anchored in all cases by a Wal-Mart."

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