Adrian Cheng’s company is almost ready to unveil Hong Kong’s largest retail, dining and entertainment complex in the Greater Bay Area.
In light of the current poor business climate and for shopping centers in particular, Simon’s 80 percent purchase of Taubman is viewed as a win-win for both sides.
Malls have struggling with dwindling shopper traffic but Simon’s takeover of Taubman will help the combined portfolio.
The French mall operator’s chief executive officer and chief financial officer could leave the company soon, according to a report.
Over the past week, Goldman Sachs and Morgan Stanley have taken minority stakes in the French mall operator.
The company teamed with real estate players Covivio and Coima SGR for a 180 million-euro deal.
Xavier Niel, Léon Bressler and Susana Gallardo won seats on the supervisory board.
Amid the coronavirus, open-air centers and outlets offering steep discounts could fare relatively better than other brick-and-mortar venues.
Located in Tuscany, in Cerreto Guidi, outside Florence, the complex will also comprise a training center.
While there are currently many empty retail locations across the city, lease prices in prime locations aren’t expected to decrease, according to experts.
The mall operator is under pressure from French telecoms entrepreneur Xavier Niel and former Unibail chief executive officer Léon Bressler.
The new Trophaeum Advisers has brought on board Franck Desnoyers, an independent luxury retail real estate broker with French market expertise.
Chanel is reported to be paying 70 million pounds more than the asking price for the site of its flagship on New Bond Street, London’s hottest luxury strip.