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Since 1999, Chelsea Property Group has been an active developer of Premium Outlets Centers® outside the United States. Chelsea Japan, our 40%-owned joint venture based in Tokyo, owns and operates the largest and most successful outlet centers in Japan. Premium Outlets de Mexico , a 50%-owned joint venture and opened the first upscale outlet center in Mexico City in 2004. Shinsegae Chelsea, a 50%-owned joint venture, opened its first center in Korea in June 2007.
Chelsea Property Group is committed to working with its partners in
expanding the Premium Outlet Shopping® concept to attractive
locations around the world.
Simon/Chelsea International, headquartered in Hong Kong, is the entity created by Simon Property Group designed to enable Chelsea Property Group, a division of SPG, to pursue its many international activities. In July 2005, the Hong Kong office was opened to oversee its real estate activities in Asia. The office is located at 4206 Gloucester Tower, The Landmark, 15 Queen's Road,Central, Hong Kong.
Chelsea Japan Co., Ltd. is a joint venture of Chelsea Property Group (40%), Mitsubishi Estate Co., Ltd. (30%) and Sojitz Corporation (30%). It owns and operates six of Japan's largest and most successful outlet centers - Gotemba Premium Outlets, west of Tokyo; Sano Premium Outlets, north of Tokyo; Rinku Premium Outlets, south of Osaka; and Tosu Premium Outlets, Fukuoka; Toki Premium Outlets, Northeast of Nagoya - and continues to develop new properties to serve Japan's major metropolitan markets. Its sixth project, Kobe-Sanda Premium Outlets opened in July 2007.
Premium Outlets de Mexico is a joint venture between Chelsea Property Group and Mexico City-based Sordo Madaleno y Asociados. In December 2004 the partnership opened Mexico's first Premium Outlet center, Premium Outlets Punta Norte, located on the Periferico, a major north-south artery in Mexico City.
Shinsegae Chelsea Co., Ltd., has adapted Chelsea's Premium Outlets concept to develop upscale, fashion-oriented outlet centers in Korea. Based in Seoul, Chelsea and Shinsegae (Shinsegae Co., Ltd. and Shinsegae International Co., Ltd. together, "Shinsegae") each have a 50% interest in the venture. The joint venture's first project, Yeoju Premium Outlets, opened June 1, 2007. The center is located southeast of Seoul and serves the greater Seoul market.
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