Meanwhile, occupancy at the REIT's high-end outlet centers are predicted between 98% and 99%, and community and lifestyle centers are expected to run from 91% to 93%. The company's figures are predicated on all the completion of developments, no future acquisitions or dispositions and a stable economic market.

In its latest guidance for the current fiscal year, executives put FFO between $4.90 and $4.92 per share and diluted net income from $1.88 to $1.90. As of its latest reported quarter, which ended Sept. 30, regional-mall occupancy was at 92.6%. Outlet centers came in at 99.6%, and community and lifestyle centers fell at 91.3%.

Among the properties Simon has in the development pipeline to open this year are: Coconut Point, 1.2-million-sf open-air, mixed-use enter in Estero, FL; and Round Rock Premium Outlets, a 433,000-sf upscale outlet center in Round Rock, TX. To open next year are the Domain, a master-planned urban village in Austin, TX, that will include 700,000 sf of retail, as well as 75,000 sf of offices space and 390 multifamily residential units; and the Village at SouthPark, a mixed-use project comprised of residential and retail components located adjacent to Simon's SouthPark Mall in Charlotte, NC.

In October, Simon opened its most recent project, the 785,000-sf Firewheel Town Center, an open-air regional shopping center in Garland, TX. The locally based company operates 286 properties in the US and Puerto Rico, interests in 51 European shopping centers, five outlet center in Japan and one in Mexcio.