Shopping Centers Today -> May 2002
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ING REAL ESTATE, LEWIS LAND PLAN AUSTRALIAN PROJECTS

Global property giant ING Real Estate and Sydney, Australia-based Lewis Land plan to build a national line of branded outlet centers under the Harbour Town banner. They have gained approval for the first of these — a 350,000-square-foot project — from the city of Perth.

The first stage of the A$50 million($26.5 million) Perth development will include 235,400 square feet of retail space split on two levels, with potential retailers to include Calvin Klein, Nike, Ralph Lauren and Versace. The second stage will have 128,400 square feet of retail, office and showroom-warehouse space. The center will be built with a traditional Main Street layout.

The firms are looking to build two more Harbour Town centers in Melbourne, two in Sydney, one in Adelaide and one in Queensland.

The concept for the Harbour Town centers is based on a project Lewis Land built on the Gold Coast in 1999. ING paid A$52 million for a 50 percent stake in that project shortly before its grand opening.

The companies plan to spend between A$40 million and A$150 million on each center. In addition to the outlet mall strategy, ING and Lewis Land are among seven finalists vying for the A$500 million redevelopment of Sydney’s Olympic Park, which was built to host the 2000 Summer Games.

MAJOR RETAIL, RESIDENTIAL DEVELOPMENT PLANNED IN MECCA

The Mecca Development Authority in Saudi Arabia is overseeing a major redevelopment that will include the construction of more than 7 million square feet of new shopping center and open-air market space in areas surrounding the Grand Mosque, the final destination of Muslim pilgrims.

The redevelopment, which will cost several billion dollars to complete, will also include the construction of new roads, hotels and residential developments. The investment will enable the city to more than double the number of pilgrims it can accommodate at any given time to 1.2 million people.

The residential area will be increased threefold to 46 million square feet, with 45,000 parking spaces. The plan includes 40 side roads all leading to the Mosque, in addition to pedestrian tunnels under main streets to facilitate the movement of worshippers.

 

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