Simon and Genting Open Johor Premium Outlets - the First Premium Outlet Center® in Southeast Asia

Published on Friday, 02 December 2011 09:17 Written by TradersHuddle Staff

INDIANAPOLIS, Dec. 2, 2011 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG), the country's largest owner, developer and manager of high quality retail real estate announced today that, in 50/50 partnership with Genting Berhad, it has opened Johor Premium Outlets, its first Premium Outlet Center® in Southeast Asia. The center encompasses 173,000 square feet of gross leasable area (GLA) featuring 80 stores and is strategically located in Johor Bahur, Malaysia. Johor Premium Outlets is close to Senai Airport and less than an hour's drive from the city center of Singapore and about three hours from Kuala Lumpur. A grand opening celebration will take place on December 11, 2011 to be officiated by the Prime Minister of Malaysia, YAB Dato' Seri Mohd Najib Bin Tun Hj Abdul Razak.

Johor Premium Outlets introduces the concept of upscale outlet shopping to Southeast Asia. The collection of merchants highlights international designers and leading brands offering everyday savings of 25 to 65 percent including Adidas, Armani, Brooks Brothers, Burberry, Canali, Coach, Esprit, Ermenegildo Zegna, Gap, Guess, Lacoste, Michael Kors, Nike, Oroton, Ralph Lauren, Royal Selangor, Salvatore Ferragamo, Swiss Watch Gallery, Timberland, Tommy Hilfiger, Tumi and many more.

"We are very pleased to announce the opening of Johor Premium Outlets," said John R. Klein, President of Simon's Premium Outlets® platform. "The collection of brands and overall shopping environment will provide an upscale shopping experience while offering significant savings to area residents and visitors. We have welcomed shoppers from Malaysia and Singapore to many of our centers and we are pleased to now be able to serve these valued consumers closer to home. The center will have excellent synergies with Resorts World Genting in Genting Highlands and Resorts World Sentosa in Singapore."

The Premium Outlets portfolio includes 70 Premium Outlet Centers including 57 in the United States, one in Puerto Rico, eight in Japan, two in South Korea, one in Malaysia and one in Mexico. Premium Outlet Centers in the United States are located primarily in or near major metropolitan markets such as New York, Los Angeles, Boston and Chicago and visitor markets such as Orlando and Palm Springs. Leading centers include Woodbury Common Premium Outlets, north of New York City, and Gotemba Premium Outlets, near Tokyo, Japan.

About Simon Property Group

Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the U.S. The Company currently owns or has an interest in 392 retail real estate properties comprising 262 million square feet of gross leasable area in North America, Europe and Asia. Simon Property Group is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. The Company's common stock is publicly traded on the NYSE under the symbol SPG. For further information, visit the Simon Property Group website at www.simon.com.



About Genting Berhad

Genting Berhad, its subsidiaries and affiliates operating under the 'Genting' Name, is recognized as one of Asia's leading and best managed multinationals. There are currently 5 public companies listed in 3 jurisdictions that operate under the 'Genting 'name. These public companies and their subsidiaries and affiliates are involved in various businesses, including leisure and hospitality, power generation, oil palm plantation, property development, biotechnology and oil & gas. Collectively, they have over 58,000 employees, 4500 hectares of prime resort and about 133,000 hectares of plantation land.

SOURCE Simon Property Group, Inc.