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Latino Daily News

Monday April 1, 2013

U.S. Developer Taubman to Build $400 Million Luxury Mall in Puerto Rico

U.S. Developer Taubman to Build $400 Million Luxury Mall in Puerto Rico

Photo: Mall of San Juan by Taubman

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U.S.-based developer Taubman is building a $400 million shopping mall in San Juan, Puerto Rico, that will have a gross leasable area of 60,000 sq. meters (644,000 sq. feet) and introduce new luxury retailers to the area.

The Mall of San Juan will be home to the island’s first Nordstrom and Saks Fifth Avenue stores, as well as more than 100 restaurants and retailers, of which about 60 percent will be new to Puerto Rico.

The mall is expected to open on March 26, 2015, Taubman said.

The developer broke ground last September on the project, which is about three kilometers (1.8 miles) from the San Juan airport and is expected to create about 5,000 jobs.

“The majority of The Mall of San Juan’s shops and restaurants will be new to the market, bringing a critical mass of luxury, bridge, and better merchandise that does not exist on the island today,” Taubman said in a project profile on its Web site.

The mall will also have a 225-room Crowne Plaza Hotel, turning it into a destination for tourists.