Now that General Growth owns The Rouse Co., the REIT will be similar in size and portfolio quality to chief competitor Simon Property Group. Simon still owns more of the top 100 U.S. malls, but Simon has more weak malls. General Growth's portfolio will be more diverse geographically, while Simon's will benefit from dominance of such major markets as Boston and Philadelphia. Friedman Billings Ramsey analyst Paul Morgan still gives Simon the edge for long-term growth. “Simon's stronger balance sheet will leave it well poised to exploit new growth opportunities over the next few years as General Growth digests the Rouse assets.” Simon has six new projects under development.