Once you’ve reached the pinnacle of success, it’s imperative not to take a break. After taking some time to reflect and bask in the glory, it’s crucial to return to work to prevent others from challenging your position. Simon Property Group appears to have a clear understanding of this concept, as the company intends to significantly invest in expanding its portfolio in the coming years.
Over 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 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 guest’s 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 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 are 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 basketball 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.
