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Mall of San Juan breaks ground; to house Caribbean’s first Saks and Nordstrom
San Juan -- Taubman Centers and New Century Development announced Friday the groundbreaking on the 650,000-sq.-ft. Mall of San Juan, the island's first luxury retail development. The $405 million, two-level mall will feature the first Saks Fifth Avenue and Nordstrom in the Caribbean.
Of the approximately 100 stores and restaurants, it is expected that 60% will be new to the island.
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Report: Wal-Mart looks to open first India store within 18 months
New Delhi, India -- A Friday report by the Wall Street Journal disclosed that Wal-Mart Stores Inc. expects to open its first retail stores in India within the next 12 to 18 months.
In an interview with WSJ, Scott Price, Asia president and CEO of Wal-Mart, said that the retailer has not pinpointed where the first stores will be located or ultimately how many there will be. But the latest decision handed down by the Indian government allowing megastore retailers to enter the country via joint ventures paved the way for the impending openings.