Simon announces US$4 billion investment

American commercial real estate company Simon Property Group has launched a US$4 billion plan to create innovative, new lifestyle experiences across multiple Simon properties including malls, Premium Outlets and Mills.

"The world of retail is ever-changing, and Simon is thriving," notes David Simon, chairman and CEO of Simon Property Group. "As a global leader, we focus on what's new, now and next, investing in destinations that generate excitement, discovery and build strong communities."

Key highlights from Simon's transformational projects include digitally native and experiential retailing. The retailer said it is witnessing a significant influx of previously pure-play e-tailers, including Casper, UNTUCKit, Bonobos, and Blue Nile, looking to bring their brands to life in new and innovative ways at Simon centres - in addition to popular fitness and beauty brands such as Peloton and Drybar.

According to Eric Sadi, executive vice-president of Leasing, "The experiential concepts provide something new and exciting for customers who then cross-shop other retailers even more than before as we're providing a holistic experience where they can spend the day with us."

David Simon reinforces the commitment to cutting-edge innovation by stating, "We're a company of experiences and therefore perfectly positioned to capture the hearts, minds and imaginations of our shoppers with new, exciting and dynamic ways to live, work, play, stay and shop at Simon."

Simon’s properties spread across North America, Europe and Asia, including Genting Highlands Premium Outlets and Johor Premium Outlets in Malaysia.