We have experienced an explosion of growth and innovation unprecedented in the industry and we look forward to Simon's future. Simon was named Fortune’s Most Admired Real Estate Company eight times. ![]() In addition to our high quality properties, Simon is also known for our strong balance sheet, a long-tenured and well-respected senior management team, and our innovative spirit, as reflected in a 50 + year history of successful retail real estate development, management, and leasing. By early 2021, the toll of the pandemic became more pronounced when Simon announced in an earnings report that they had lost out on 1.15 billion in income, with a drop in annual operations income by 17.1 percent. Over the next several years, Simon is committing billions of dollars to both new developments and redevelopment projects that will further diversify and expand the quality and reach of the Simon portfolio. If David Simon prevails in absorbing General Growths 200 regional shopping malls, it would bring the REITs portfolio to more than 500 malls and the company would command a hefty 40 of the mall. That same year, David Simon admitted that the company had too many malls and that it must reinvent itself. We are also investing in our future, creating the new live, work, play, stay, shop destinations. Optimizing results across our global portfolio of preeminent Simon Malls, Simon Premium Outlets, and The Mills is our priority both short and long term. Under Mel’s son, David, it is also becoming a sizeable tenant. A year after acquiring JC Penney out of bankruptcy via a partnership, Simon Property Group CEO and President David Simon said the retailer's business has stabilized. Simon for years has been going on investor calls always investor calls and never interviews, which he doesn. Simon Property Group became one of America’s largest shopping mall landlords under Mel and Herb Simon, brothers and co-founders. With a view to the collective success of Simon, our retail partners, and our neighbors, we continue to redefine and reimagine how people around the world shop. David Simon is not just a pitchman for shopping malls. Our portfolio includes assets of national and international renown - proven assets that are the preferred location for retailers. Our industry-leading retail properties and investments across North America, Europe and Asia provide shopping experiences for millions of consumers every day and generate billions in annual retail sales. Now, brands that launched through the digital channel are opening stores in those spaces it once seemed it would overtake. Simon is a global leader in retail real estate ownership, management and development and an S&P 100 company (Simon Property Group, NYSE: SPG).
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