Delivery of the opening two will occur 2008 and 2010, he said. "Although Asia is on a more accelerated pace," additional projects "would still take about four years, unless we acquired something."

In mid-February, Taubman Asia and Greenwich, CT-based Gordon Group Holdings announced that their partnership had retained Peter Marino, the luxury retail designer with offices in New York, London and Paris, to design the retail component of Marina Bay Integrated Resort, a mixed-use development in Singapore. The retail development is described as a "large-scale retail destination that is expected to act as a spine to the entire integrated resort, including a casino, hotel, convention center and museum."

The Harrah's/Keppel JV expects to submit its bid to the Singapore government by March 29. Completion of the resort is dependent on regulatory approval, including the award of this project to this JV.

"We are delighted to work with Taubman/Gordon and their partners on this exciting bid that will further boost Singapore as a leading shopping destination," said Marino in a statement. "The project presents us with an unprecedented opportunity to create multiple flagship stores housing the world's top luxury fashion brands within one unified shopping and entertainment environment." Marino's previous projects have included stores for Louis Vuitton, Chanel, Christian Dior, Fendi and Giorgio Armani in Tokyo, New York, Paris and Hong Kong.

Taubman/Gordon is currently working with Harrah's on the $175-million Forum Shops at Caesars, previously known as the Piers at Caesars, in Atlantic City. It will contain more than 100 retailers, including Gucci, Vuitton, Burberry and Tiffany & Co., plus more than 10 restaurants. During the Citigroup presentation, Taubman said it will open May 17.

Taubman Asia's other development is the retail component of New Songdon City, a 1,500-acre site in Incheon, South Korea, being master developed by Florham Park, NJ-based Gale Co. The retail component calls for 10 million sf of retail. Taubman Asia is based in Hong Kong and headed by Morgan Parker, a former VP of Morgan Stanley. Parker calls the Asia locations "dynamic growing economies where there is significant opportunity for profitable retail real estate investment."