Ron Kamdem's questions to Simon Property Group Inc (SPG) leadership • Q3 2024
Question
Ronald Kamdem noted the strong domestic NOI growth of nearly 5% and asked for updated commentary on achieving a 3% growth target for the next year, as well as any performance differentiation between traditional malls and outlets.
Answer
David Simon, Chairman, CEO, and President, acknowledged the strong performance and stated that momentum is expected to continue. However, he declined to provide specific 2025 NOI growth guidance, indicating that the company is currently in its budgeting process and will share its formal outlook during the year-end earnings call in February. He confirmed that all platforms are generally moving in a positive direction.