Simon will fund the project and serve as developer for the three-level expansion. The project is awaiting final sign-offs by Simon and its land lease holder, Park Place Entertainment Corp.

Standing at 500,000 sf of shop space, the Forum Shops will break ground "soon" on the third phase in order to meet a 2004 delivery, a Simon Property source tells GlobeSt.com. The shops opened in May 1992 with 283,000 sf and added 217,000 sf in 1997.

"The Forum Shops is undeniably the most valuable retail real estate in all of Las Vegas," says David Simon, CEO of Simon Property Group. "We feel the addition offers even greater potential, evidenced by the interest we have received from world-class retailers who have waited for this expansion to establish their presence in Las Vegas." The expansion's cost is being kept under wraps.

The project has attracted well-known names from the designer and couture industry. Already on board are Robert Cavalli, Chopard, Dolce & Gabbana, D & G Sport, Furla, MAC Cosmetics, Donald Pliner, Tod's, Tourneau, Valentino and Louis Vuitton. Several upscale restaurants will be incorporated into the tenant mix.

A grand pedestrian plaza, linking the shops to Las Vegas Boulevard, will rely upon Roman designs to carry the theme and serve as the exterior focal point from the famed Strip. The extra shop space is being done in concert with a 4,000-seat Coliseum, ticketed for delivery in March 2003.

Instant Insights /

Simon Property Underwrites Caesar's Forum Shops' Expansion

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