US retail giant Simon has announced an investment of $1 billion in 2017 to enhance the guest experience at its portfolio of shopping, dining, entertainment and mixed-use destinations.
Simon has invested more than $5.0 billion in development projects to date and plans to invest a further $1.0 billion in both 2017 and 2018.
Commenting on the investment , David Simon, Chairman and Chief Executive Officer, said, “Our primary focus continues to be investments in our physical product to enhance our guests’ experience. Nothing is more important to us.”
Development projects are taking place at many of the company’s famous malls. In addition to refurbishment and the addition of new stores, updates will include more restaurants, hotels and entertainment options.
The Shops at Clearfork at Fort Worth and The Shops at Riverside, New Jersey, will each have a new AMC theatre. The New Jersey theatre will focus on “ultra-luxury” with reclining seats, cocktails and “enhanced food options”. The Fort Worth site will also offer a Pinstripes venue which will include bowling, bocce courts and an event space.
Simon continues to expand outlet shopping venues worldwide with Premium Outlets recently opened in Seoul, South Korea and Provence, France. New projects are underway in Kuala Lumpur, Malaysia.
New Premium Outlets are either under construction or due to break ground at Edmonton International Airport, Hampton Roads and Thornton, Colorado.
Image: Orlando Vineland Premium Outlets
https://investors.simon.com/phoenix.zhtml?c=113968&p=irol-newsArticle_print&ID=2275627
