Triple Five to Operate American Dream Meadowlands, to Become World's Largest Retail and Entertainment Complex

EAST RUTHERFORD, New Jersey, May 9, 2011 /PRNewswire/ -- Triple Five, owner of some of the world's largest and most visited retail destinations, today announced design plans and a new name for the Meadowlands entertainment and retail complex in New Jersey, United States. Triple Five will transform the existing space, now renamed the American Dream | Meadowlands, into the world's largest and premier tourism, entertainment and retail destination eventually reaching 7.5 million square feet. The complex, at a cost of US $3.7 billion, is expected to attract 55 million annual visits.

"By working with Triple Five, a world-class developer that has the necessary business knowledge and experience, we are continuing the economic growth of the Meadowlands, while welcoming tourists from around the world," said New Jersey, USA, Governor Chris Christie. "I commend our partners at Triple Five for their commitment and vision. With an attractive design plan, unique offerings, a new name and timeline for completion, this project is getting a much-needed makeover, while enhancing New Jersey's reputation as a vibrant international destination."

Triple Five has 35 years experience in the development and management of large entertainment and retail projects, most notably, Mall of America(R) in Minnesota, United States, and West Edmonton Mall(R) in Alberta, Canada. Combined, the two complexes attract more than 60 million visitors annually.

"We selected the name American Dream because it connotes opportunity," said Nader Ghermezian, Chairman, Triple Five. "It represents opportunity for new jobs, to drive tourism, to generate tax revenue and to offer people of all ages from around the world a unique place with unparalleled retail, entertainment and attraction options every day of the year."

American Dream will provide three million square feet of retail and amusement offerings and 4.5 million square feet in hotels and entertainment venues. Unique attractions include:

    
    - 700-foot indoor ski hill - the first in North America - open year-round
    - Climate controlled, glass-domed, indoor water park, open year-round
    - Climate controlled, glass-domed, indoor amusement park, open year-round
    - 200-foot diameter, enclosed-capsule, outdoor observation wheel
      overlooking New York City
    - Live-music and performing-arts theater, seating 2,400 to 3,000 people
    - Indoor skating rink
    - Indoor skydiving
    - Miniature golf
    - Dinner theaters
    - Bourbon Street - consisting of nightlife, fine dining establishments
      and international cuisines
    - Children's museum
    - Daycare facility

The size and the locations of the world's largest shopping centers now rank as follows:

    
    - East Rutherford, New Jersey, United States - American Dream |
      Meadowlands, developed by Triple Five (7.5 million square feet upon
      full completion)
    - Beijing, China - Golden Resources Mall (6 million square feet)
    - Dubai, United Arab Emirates - Dubai Mall (5.9 million square feet)
    - Edmonton, Alberta, Canada - West Edmonton Mall, developed by Triple
      Five (5.3 million square feet)
    - Minneapolis, Minnesota, United States - Mall of America, developed by
      Triple Five (4.25 million square feet)
    - The Philippines, Southeast Asia - SM Mall of Asia (4.2 million square
      feet)

American Dream at Meadowlands is scheduled to open in late 2013. The project's progress can be followed at http://www.americandream.com.

About Triple Five. Triple Five is a multinational conglomerate and diverse development and finance corporation, with offices in major U.S. and Canadian cities. Triple Five's major and unique strength is its experience in a wide range of projects giving it the ideal expertise for creating successful mixed-use developments.