Simon ‘Bullish’ on Malls

(Image courtesy of Simon Property Group)

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As the biggest players in international retail development gather in Las Vegas, the chief executive officer of Indianapolis-based Simon Property Group Inc. (NYSE: SPG) says he is "bullish on malls." Despite economic challenges hitting bricks-and-mortar retailers in recent years, David Simon says he is very optimistic about business.

"We continue to deploy capital in our most powerful assets and develop new centers that will be strong economic engines for their markets," he added.

Last month, the company reported a jump in funds for operations for the first quarter and says 33 redevelopment or expansion projects are currently underway throughout the world. Simon’s investment totals some $2 billion and involves work at its regional mall, The Mills, and Premium Outlet locations.

It says so far this year, nearly three dozen anchor stores and restaurants have been added throughout its portfolio.

You can connect to more details about specific projects for Simon by clicking here.