KUALA LUMPUR, Nov 22 – Malaysia Airports and Mitsui Fudosan Co Ltd, Japan (Mitsui) plan to develop an upscale factory outlet park to be known as Mitsui Outlet Park KLIA on an approximately 20 hectares of land at Kuala Lumpur International Airport, Sepang.
Mitsui Outlet Park KLIA, the first Mitsui outlet park in Southeast Asia and the 14th for Mitsui, will be developed over three phases at an estimated gross development cost of about RM335 million, Malaysia Airports said in a statement.
Malaysia Airports entered into a Memorandum of Understanding (MoU) today with Mitsui, a leading real estate developer in Japan, to develop the project.
It said the outlet park will be developed complete with food & beverages and entertainment facilities as its complementary components based on strong themed attractions i.e. Knowledge and Attractions, Prime Time Complex and World Food Expo.
Malaysia Airports said it will boast a total lettable area of about 47,000 sq m upon full completion, thus positioning the outlet park as the largest within Mitsui’s stable of outlet parks.
The first phase of development is expected to begin in the first quarter of next year and is expected to open its doors to the public by end of 2014, it said.
Mitsui Outlet Park KLIA will offer a wide selection of leading brands including luxury brands, popular select shops, high grade and top Asian fashion, sports & outdoor items, fashion accessories and gifts at prices that are guaranteed to be below their recommended retail prices.
More than 240 famous international designer brands will be invited based on their presence in existing Mitsui Outlet Parks in Japan and China, it said.
In addition to popular European and American brands, the upscale outlet park will also offer top Asian fashion from Japan, South Korea, Hong Kong and Malaysia thus setting it apart from the other retail centres in Malaysia in terms of breadth of brand diversity, it said. – Bernama