Search
 

Simon Opens Hong Kong Office

INDIANAPOLIS-To provide local presence to its Asian properties, Simon Property Group Inc. will open its first Hong Kong office.

By Dana Dubriwny | Updated on May 24, 2005

For more retail coverage, click GlobeSt.com/RETAIL.

INDIANAPOLIS-Simon Property Group and its outlet center division Chelsea Property Group will be expanding its presence in the Asian market. Operating as Simon/Chelsea International Ltd., a newly formed subsidiary of Simon Property, the company will be occupying a new Hong Kong regional office next month. Located in the Central district of Hong Kong, the new regional office will oversee Simon’s retail real estate activities in East and Southeast Asia. Leslie Chao, president of Chelsea, tells GlobeSt.com that having a local presence is imperative to the company’s success in the region. “Now that we’re part of Simon, there are many opportunities that come our way that we can’t address from US,” Chao says. “Asia, unlike Europe, has no overlapping business hours with the US, which makes it extraordinarily difficult to do business without a local presence.”

With five Premium Outlet centers in Japan, along with a growing list of regional opportunities, the Chelsea division is well versed in the Asian market. Most recently, the division announced its joint venture alliance with Seoul, South Korea-based retail developer Shinsegae, to build upscale centers in that country. In March, Chelsea opened the $44-million, 178,000-sf Toki Premium Outlets, near the City of Nagoya.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.