Simon to Form Chinese JV

Simon Property Group Inc. has agreed to partner with Morgan Stanley Real Estate Funds and SZITIC Commercial Property Co. Ltd. in a venture that will develop retail shopping center projects in China.Simon and MSREF will each own 32.5% of the enterprise, while SZITIC CP, a subsidiary of Shenzhen International Trust & Investment Co., will own 35%. "We are very excited about the retail development opportunities in China and believe that being the first U.S.-domiciled REIT to enter this critical 21st century market further solidifies our position as one of the world's pre-eminent real estate companies," said David Simon, chief executive officer of Simon Property Group. Simon can be found online at http://www.simon.com.