GGP Ggp Inc. (delisted)

General Growth Properties (NYSE:GGP), the nation�s second largest owner, developer and manager of shopping centers, today announced that it is expanding its presence in the Phoenix market by developing Parke West at Northern Avenue, a Peoria, Ariz., shopping and entertainment development on 46 acres just northwest of the new Arizona Cardinals football stadium. �Phoenix and surrounding communities constitute one of America�s fastest growing metropolitan areas and we plan to create a dynamic retail experience,� said John Bucksbaum, chief executive officer of General Growth. General Growth also owns Arizona Center in downtown Phoenix. In Tucson, General Growth owns and manages Park Place and Tucson Mall and in southern Arizona it owns The Mall at Sierra Vista. It holds an equity interest in Arrowhead Towne Center in Glendale and Superstition Springs in East Mesa, both of which are just outside Phoenix. Scheduled to open in October 2007, Parke West at Northern Avenue will feature 356,000 square feet of shopping, restaurants and movie theaters. Located northwest of the intersection of Arizona Loop 101 freeway and Northern Avenue, Parke West will have easy highway access and serve a fast growing market of affluent residents and visitors. Among General Growth�s nationwide portfolio of shopping centers, 20 are in California, 16 in Texas and 14 in the states of Utah, Colorado and New Mexico combined. It has two master-planned communities in the Houston market and one in Las Vegas. New developments in the planning or development stages include four in Texas and two in California. Several existing properties in those states are under redevelopment. �As we take over development of Parke West at Northern Avenue, we will take a hard look at the existing plans for the property and mobilize the expertise of our development team to ensure the creation of a special place and experience that will have timeless quality,� said Bucksbaum. �Parke West will be a favorite destination for sports fans, tourists and West Valley residents.� General Growth Properties, Inc. is the second largest U.S.-based publicly traded Real Estate Investment Trust (REIT). General Growth currently has an ownership interest in or management responsibility for a portfolio of more than 200 shopping malls in 44 states, as well as ownership in master-planned community developments and commercial office buildings. The portfolio totals approximately 200 million square feet of retail space and includes more than 24,000 retail stores nationwide. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit the Company Web site at http://www.generalgrowth.com. This press release contains forward-looking statements. Actual results may differ materially from the future operations suggested by these forward-looking statements, for a number of reasons, including, but not limited to, the retail market, tenant occupancy and tenant bankruptcies, the level of our indebtedness and interest rates, market conditions, land sales in the Master Planned Communities segment, the cost and success of our development and redevelopment projects and our ability to manage our growth. Readers are referred to the documents filed by General Growth Properties, Inc. with the SEC, specifically the most recent report on Form 10-K, which further identify the important risk factors which could cause actual results to differ materially from the forward-looking statements in this release. The Company disclaims any obligation to update any forward-looking statements. General Growth Properties (NYSE:GGP), the nation's second largest owner, developer and manager of shopping centers, today announced that it is expanding its presence in the Phoenix market by developing Parke West at Northern Avenue, a Peoria, Ariz., shopping and entertainment development on 46 acres just northwest of the new Arizona Cardinals football stadium. "Phoenix and surrounding communities constitute one of America's fastest growing metropolitan areas and we plan to create a dynamic retail experience," said John Bucksbaum, chief executive officer of General Growth. General Growth also owns Arizona Center in downtown Phoenix. In Tucson, General Growth owns and manages Park Place and Tucson Mall and in southern Arizona it owns The Mall at Sierra Vista. It holds an equity interest in Arrowhead Towne Center in Glendale and Superstition Springs in East Mesa, both of which are just outside Phoenix. Scheduled to open in October 2007, Parke West at Northern Avenue will feature 356,000 square feet of shopping, restaurants and movie theaters. Located northwest of the intersection of Arizona Loop 101 freeway and Northern Avenue, Parke West will have easy highway access and serve a fast growing market of affluent residents and visitors. Among General Growth's nationwide portfolio of shopping centers, 20 are in California, 16 in Texas and 14 in the states of Utah, Colorado and New Mexico combined. It has two master-planned communities in the Houston market and one in Las Vegas. New developments in the planning or development stages include four in Texas and two in California. Several existing properties in those states are under redevelopment. "As we take over development of Parke West at Northern Avenue, we will take a hard look at the existing plans for the property and mobilize the expertise of our development team to ensure the creation of a special place and experience that will have timeless quality," said Bucksbaum. "Parke West will be a favorite destination for sports fans, tourists and West Valley residents." General Growth Properties, Inc. is the second largest U.S.-based publicly traded Real Estate Investment Trust (REIT). General Growth currently has an ownership interest in or management responsibility for a portfolio of more than 200 shopping malls in 44 states, as well as ownership in master-planned community developments and commercial office buildings. The portfolio totals approximately 200 million square feet of retail space and includes more than 24,000 retail stores nationwide. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit the Company Web site at http://www.generalgrowth.com. This press release contains forward-looking statements. Actual results may differ materially from the future operations suggested by these forward-looking statements, for a number of reasons, including, but not limited to, the retail market, tenant occupancy and tenant bankruptcies, the level of our indebtedness and interest rates, market conditions, land sales in the Master Planned Communities segment, the cost and success of our development and redevelopment projects and our ability to manage our growth. Readers are referred to the documents filed by General Growth Properties, Inc. with the SEC, specifically the most recent report on Form 10-K, which further identify the important risk factors which could cause actual results to differ materially from the forward-looking statements in this release. The Company disclaims any obligation to update any forward-looking statements.