(Reuters) -Commercial real estate investment trust Simon Property Group ( SPG ) raised full-year forecast for real estate funds from operations on Monday, driven by resilient leasing demand across its shopping centers.

The mall operator, which counts LVMH, the luxury conglomerate behind Louis Vuitton and Tiffany & Co, among its tenants, expects 2025 real estate FFO, a key performance metric for REITs, to be between $12.60 and $12.70 per share. That compares with its previous target of $12.45 to $12.65 per share.

Peer Regency Centers also raised its annual FFO target last week, citing strong leasing demand.

Simon Property's ( SPG ) occupancy at malls and premium outlets was 96.4% at September 30, 2025, compared with 96.2% at September 30, 2024.

Its base minimum rent per square foot rose to $59.14 from $57.71.

Simon Property Group ( SPG ) reported third-quarter real estate FFO of $3.22 per share, compared with $3.05 per share a year earlier.

The company's revenue from lease income rose to $1.45 billion, from $1.34 billion a year ago.