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Simon Expands Asian Presence

Simon Property Group Inc. will open a regional office next month in Hong Kong from which it will run a newly formed subsidiary operating as Simon/Chelsea International Ltd. Simon gained entry into the Asian market last year through its acquisition of Chelsea Property Group, which operates a number of centers in Japan. It also has plans to develop centers in Korea.

The new office will be headed by Renee Ting. Ting previously worked with Shui On Properties Limited and the development arm of Pacific Century CyberWorks.

Simon's announcement comes less than two months after rival developer Taubman Centers Inc. also opened an Asia office. Taubman's operations are also headquartered in Hong Kong.

-- David Bodamer

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