date:Dec 17, 2013
ise money and focus on retailing. But many have since found that without owning stores, they have less freedom to make changes needed to improve performance.
It's a bit back to the future, said Plassat, who has repeatedly said there was value to create from operating shopping malls that generate rental fees.
The new company, with over 800,000 square meters of retail space and assets of 2.7 billion euros, plans to spend 100 million euros a year over five years to upgrade the malls.
The money w