A $280-million investment by Ivanhoé Cambridge - Guildford Town Centre embarks on next phase of major redevelopment project

SURREY, BC, Sept. 22, 2011 /CNW Telbec/ - Guildford Town Centre (Guildford) a property owned and managed by Ivanhoé Cambridge, announces the launch of the next phase of its $280-million expansion and redevelopment project. When construction work is completed at the end of 2013, the centre's gross leasing area will have increased from 980,000 to 1.2 million square feet, which will make it the largest regional shopping centre south of the Fraser River.

"In keeping with our strategic plan, we regularly invest in our properties to increase consumer traffic by drawing on our expertise in shopping centre management and development. We are committed to providing a one-of-a-kind shopping experience to customers and ideal operating environments to retailers," declares Kim McInnes, President, Global Operations at Ivanhoé Cambridge. "The investment made in Guildford Town Centre bears witness to the vitality of the market and to the attraction power of the centre," he adds.

This is one of the largest shopping centre redevelopment projects in Canada and will greatly contribute to the local economy, creating 4,000 jobs during the construction period and at least 750 new permanent retail jobs upon completion.

"Guildford Town Centre has been a part of the Surrey community for over 45 years," says Peggy White, General Manager at Guildford Town Centre. "With the rich history we have shared with our community, we are extremely excited to be a part of the bright future Surrey has to offer. Thanks to this project, Guildford will be better positioned than ever to face the competition and will surely continue to appeal customers."

Once the project is finalized, Guildford will welcome many new-to-market and fashion retailers, thus enhancing its retail offering.

This major project also includes a newly expanded 965-seat food court, a refurbished interior, comfortable soft-seating areas and an improved layout of the centre. Phase I of the project included the expansion of Walmart to accommodate a larger Walmart Supercentre (scheduled to open October 28, 2011) and a new structured parking facility.

Ivanhoé Cambridge is a member of the Canadian Green Building Council, and is committed to sustainable development and leadership in the community. "We are striving to position Guildford Town Centre as the new benchmark in sustainable development for eco-friendly shopping centres in Canada by our commitment to become LEED® certified," notes Roman Drohomirecki, Executive Vice President, Western North American, Portfolio and Portfolio Services. LEED, Leadership in Energy and Environmental Design, at the Gold level has yet to be given to a shopping destination in Canada and Ivanhoé Cambridge is striving to attain that designation for the expansion area.

As Guildford Town Centre begins the next two phases of this massive redevelopment, it will be open for business as usual. All of the 200 stores and services will welcome shoppers, with additional parking space being made available immediately.

A presentation centre is also on site, allowing shoppers and members of the public a sneak peak at the exciting changes and developments as Guildford evolves into the ultimate shopping destination in British Columbia's fastest growing municipality.

About Guildford Town Centre
Guildford Town Centre, with its diverse mix of 200 stores, services and restaurants, is a family focused shopping centre and community leader supporting activities, groups and causes that matter to Surrey. With a brand new Walmart Supercentre and a 2-level parkade opening at the end of October 2011, Guildford Town Centre's redevelopment will continue through 2013 with the addition of many new stores, a 900-seat food court and a brand new look. For more information, visit: www.guildfordtowncentre.com.

About Ivanhoé Cambridge
Ivanhoé Cambridge is one of the 10 largest real estate companies in the world. It is a leading Canadian-based global property owner, manager and investor, with over CAD$30 billion of assets in the shopping centre, office and multi-residential sectors in 24 countries as at December 31, 2010. Headquartered in Montreal, Ivanhoé Cambridge is the real estate subsidiary of the Caisse de dépôt et placement du Québec, one of Canada's top institutional fund managers. For more information, visit www.ivanhoecambridge.com.


For further information:

François Gaboury
Director, Public Relations
Tel. : 514 847-4171
Cell. : 514 467-1787

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