Simon to Open Hong Kong Office

The U.S.-based Simon Property Group Inc. has announced plans to open a regional office in Hong Kong in June.The new subsidiary is slated to operate under the name Simon/Chelsea International Ltd. in conjunction with Chelsea Property Group. The new Hong Kong operation will be responsible for Simon's retail real estate activities in East and Southeast Asia. "This is an important step for the development of our international platform," said David Simon, Simon Property Group's chief executive officer. "As the demand for high-quality retail continues to grow worldwide, we want to extend our leadership position into the most promising markets, many of which are in Asia." Leslie Chao, president of Chelsea Property Group, said Simon and Chelsea will now be "better positioned to pursue both full-price and outlet development opportunities in Asia." Renee Ting has been named managing director and head of the new office. Ms. Ting most recently worked for developer Shui On Properties Ltd. and the development arm of Pacific Century CyberWorks.