Mills Joins Asia Bandwagon

ARLINGTON, VA-The Mills Corp., like competitors Simon Property Group and Taubman Centers, is looking to Asia to develop new shopping centers. Executives announced their intention on Friday during their quarterly conference call.

Laurence Siegel, Mills’ CEO, says his company is targeting two countries for projects in the continent but would not specify which ones they are. Mills executives could reveal the markets by the end of the year, he says.

When Mills does decide to enter Asia, the company will likely take the same tact it has in Canada and Europe, where it formed partnerships with local developers. Outside of Toronto, for example, Mills opened the 1.1 million-sf Vaughan Mills last year with Canadian mall owner Ivanhoe Cambridge.