Find in the news:
BY COUNTRY

General Growth hand in hand with largest rival



CEO of General Growth Properties has shown his personal strength by putting together a shopping mall portfolio for a divided economy in the US.

Since he took over leadership of the second-largest mall owner in the country, he has not only pulled it out of bankruptcy during 2011, but also amassed a portfolio of high-end shopping centers, which caters to affluent consumers.  This has resulted in the streamlining of General Growth around the market that is most lucrative.

He has made the decision to go beyond the suburban malls, as he has agreed to purchase a share in the Crown Building on Fifth Avenue, New York.

This astute deal-striking has boosted the holdings of shareholders.  The company’s share has increased by 127% since it came out of bankruptcy.  On a personal level, Mathrani has also benefited as he has collected around $27m in pay during the past two years and recently signed a five-year contract with an incentive package worth $25m.

His latest move is to aid the company’s archrival Simon Property Group in obtaining Macerich, number three on the list of real estate investment companies.  According to Simon, General Growth has agreed to purchase some of the Macerich malls if the deal is successful.  

The deal is a distinct move away from the CEO’s recent actions of targeted acquisitions.  

The benefits of the deal are clear from Simon’s perspective.  Passing the Macerich malls onto General Growth prevents them from competing in the bid which could have boosted the price way above the $20bn-plus Simon is currently offering.  It also eliminates some of the antitrust concerns related to the deal.  

The deal makes sense for General Growth if they are obtaining excellent centers at a good price, which they may do.  Macerich has some top properties in its portfolio, such as the Shops at North Bridge.  It is not clear however if Simon would pass this mall onto General Growth as it will not comment on the malls that will be available to General Growth.  

It should be noted that the arrangement with General Growth has only been agreed to in principle.

One disadvantage to General Growth is the leverage to be gained by Simon with national retail chains if they add Macerich malls to its already extensive portfolio.  However, General Growth is not a small outfit and Mathrani may believe that the deal will not boost Simon sufficiently to affect the overall competitive balance.

More about shopping malls in the USA



YESTERDAY, Japan:
The application, named StyleHint, will help you find fashion offers from brands including UNIQLO and GU.
DAY BEFORE YESTERDAY, China:
The Chinese online retail giant has officially introduced a logistics robot that will deliver goods to consumers.
DAY BEFORE YESTERDAY, USA:
The retailer's trademark will be called Free Assembly, under which customers will be able to buy clothes for both men and women.
Sep 18, 2020, Taiwan:
Dutch studio MVRDV has transformed an abandoned shopping center in Taiwan into an unusual public space.
Sep 18, 2020, Israel:
In Israel, a national quarantine begins to operate again from September 18, 2020.
Sep 18, 2020, Sweden:
Shoppers will select goods from different stores in the mall on one website and then pick them up conveniently.
Friend
and Follow
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
AEON MALL Okinawa Rycom GLA:839 585 SF
ADDRESS: 901-2300 Tochi-kukaku seirichinai Awase, Kitanakagusuku Village, Nakagami District, Okinawa
Japan . Ginowan
AEON MALL Okinawa Rycom
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us