Retail fundamentals are moving in the right direction, says David Simon, president and CEO of Simon Property Group. Asia, in particular, is doing well, with Simon's operations in Japan and South Korea posting strong growth. Even with the turmoil in Europe, operations in that region are strong, he adds. Going forward, the REIT's growth will be from acquisitions, not development. The capital the REIT had earmarked for the General Growth Properties acquisition could be deployed in another deal, he says. "We can't rule anything out at this point," he says.
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