Hines Global REIT has acquired San Antonio's The Rim, which at more than 1.8 million square feet is the largest outdoor retail center in Texas. The REIT's purchase included 796,445 square feet in phases one through four. It also acquired rights to 259,656 square feet currently under construction and the right to buy an additional 97,000 square feet in phase five.
The Al Ghurair Centre in Deira, Dubai's oldest retail center, will debut its expansion during Ramadan. The $544 million project has nearly doubled the center's space, adding 375,000 square feet. The shopping center sees itself as a neighborhood or community retail provider, not a destination center.