There are no further payments required of the company as a result of the ruling by the U.S. Fifth Circuit Court of Appeals. The company was also fully indemnified for those taxes and the related interest by GGP.

No additional taxes were imposed as a result of the Court’s ruling; the only issue before the Court concerned the proper timing for recognizing income, not the amount of income required to be recognized.

About The Howard Hughes Corporation®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 16 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit

Caryn Kboudi, 214-741-7744

Source: The Howard Hughes Corporation