Shopping Centers Today

JUL 2014

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Page 12 of 59

Outlet developers are targeting China. U.K.-based developer Value Retail opened the 35,000-square-meter (nearly 380,000 square feet) Yi Ou Lai outlet mall, in Suzhou, this spring. The firm has plans for three more luxury outlet malls in China over the next five years, which will bring its total there to five. London-based TIAA Henderson Real Estate is planning shopping centers in Shanghai and in the city of Foshan. J.Crew opened two stores in Hong Kong — a women's store at the IFC Mall and a 2,800-square-foot men's store sev- eral blocks away — marking the chain's return to Asia after pulling out of Japan six years ago. Sct DLF secured almost $90 million through the first commercial- mortgage-backed-securities issue in India, against DLF Emporio, its New Delhi luxury mall. Nordic Real Estate Partners is developing a 44,000-square-meter (about 474,000 square feet) big-box retail scheme in Co- penhagen, Denmark. The Disa center, as the project is called, is scheduled to open in October 2015 and is already 80 percent leased, to 15 tenants. The Al Futtaim Group is to build a 6 billion riyal ($1.6 billion), 250,000-square-meter (2.7 million square feet) super-regional mall west of Riyadh, Saudi Arabia. Construction is set to begin in weeks on the Ikea-an- chored project, which will also include a 500-room hotel and apartments. Aeon was on schedule to open its first mall in Phnom Penh, Cambodia, at the end of June. The four-level Aeon Mall contains nearly 200 shops, an ice rink and a cinema. T a i n a S o h l m a n / S h u T T e r S T o c k . c o m French grocery giant Auchan has plans to open five retail centers in Tunisia, at a cost of some D1 bil- lion (about $600 million). As of last year Auchan had nearly 800 hyper- markets, roughly 800 supermarkets and almost 400 malls worldwide. J u l y 2 0 1 4 / S c t 13 12-13_SCT_JUL14_World-at-a-Glance.indd 13 6/12/14 5:49 PM

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