Shopping Centers Today

FEB 2015

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

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12 S C T / F e b r u a r y 2 0 1 5 Dunkiní Donuts will be re- turning to Mexico within the next few years, with plans to open at least 100 franchised shops across Mexico City and the states of Hidalgo, Jalisco, Mexico, More- los and Querétaro. The chain had already operated in Mexico until 2009, but pulled out after its franchising contracts expired. The new master franchiser is the Mexican subsidiary of Sizzling Platter, a U.S. restaurant management company. Forever 21 is set to open 50 stores in Europe over the next three years ó in the Czech Republic, France, Germany, Italy, the Netherlands, Poland and the U.K. The apparel chain now operates some 450 shops in the U.S. and about 100 internationally. Spainís Neinver and Brit- ainís TIAA Henderson Real Estate have formed a venture to invest in Europeís outlets market. The partner- ship will invest in the centers that Neinver already owns through its Style Outlets and Factory business units. The first investments will be in France, Poland and Spain. In Spain, the company will build Viladecans The Style Outlets, near Barcelona. U.K. mall owner Intu is paying €451 million (about $534 million) for Puerto Venecia, in Zaragoza, Spain, offering more evidence of renewed confidence in that countryís economy. Intu, formerly Capital Shopping Centres, is one of the biggest U.K. retail landlords. Kimco has made steady progress on its plan to exit Latin America, selling 41 properties for $622.2 million over the course of last year. The company says it is almost out of Mexico now and in negotiations to sell all of its remaining Latin America assets. Eleven malls are set to open this year in Colombia, many of them in midsize cities such as Cartago, La Do- rada and Quibdó. One project is the $200 million Fontanar, in the city of Chía, with some 135,000 square meters (about 1.4 mil- lion square feet) of GLA. Chile-based mall landlord and department store oper- ator Falabella announced a $4.4 billion expansion plan for 2015–2018 that will bring 140 additional stores and 11 malls to Argentina, Brazil, Chile, Colombia, Peru and Uruguay. The firm gained 30 stores through its acquisition of Peruvian home-improve- ment chain Maestro to close the year with a total of 440 stores. A law that would require stores to close by 9 p.m. was under consideration in Saudi Arabia at press time. Recreational centers, restau- rants and coffee shops would be allowed to remain open until midnight on weekdays and until 1 a.m. on weekends, and stores in Mecca and Me- dina would also be exempt from the early closings. 5 t t F t a c 4 T a k a m e x / S h u T T e r S T o c k . c o m w o r l d aT a g l a n C e d

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