The company plans to invest heavily in enhancing its portfolio over the next few years.
When you reach the top of the mountain, that’s no time to rest on your laurels. After a little bit of time to reflect and bask in the glow, it’s time to get back to work to insure others aren’t successful in knocking you off your perch. Sounds like Simon Property Group is crystal clear on that concept, as the company plans to invest heavily in enhancing its portfolio over the next few years.Over the course of the past five years, the industry leading company has invested $5 billion in some stunning development projects. The company is not slowing down just yet, as it has plans to invest another $1 billion this year - and another $1 billion in 2018 as it works towards enhancing its premier shopping, dining, entertainment and mixed-use destinations.
"Our primary focus continues to be investments in our physical product to enhance our guests' experience," said David Simon, Chairman and Chief Executive Officer. "Nothing is more important to us."
As part of the new round of investment, the comprehensive renovation of the famous Houston Galleria will come to a close this year in a big way. This fall, 35 new stores and restaurants will open in a space formerly occupied by a Saks Fifth Avenue. Among the retailers on tap to join the tenant roster are AG Adriano Goldschmied, Lacoste, Sam Edelman, Cuadra, Soap Secret, Trésor Rare, Ted Baker, and Robin's Jean. On the dining front, Nobu and Fig & Olive are among the new options that will tantalize guests palates.
Also in Texas, Simon has teamed up with Cassco Development Co. for a luxury shopping, dining and entertainment destination known as The Shops at Clearfork, which is located just south of booming Fort Worth's downtown and arts district. This stunning development will be home to will be home to 100 luxury, home furnishing and specialty retailers, as well as a mix of 11 new local and national restaurants and entertainment options.
Among the exciting entertainment options on tap is AMC Theatres and Pinstripes, an upscale restaurant and entertainment venue. The massive 30,000 square foot space will include 12 bowling lanes, six indoor and outdoor bocce courts, event space, and a focus on Italian and American cuisines along with a rotating menu of craft beers and handcrafted cocktails. That sounds like a spot that will pack the people in all by itself.
These are just two of the exciting projects in the pipeline for Simon, a company that can never be accused of resting on its laurels.