News Releases

* Information contained in this news release is current as of its date of announcement. Be aware that information contained herein is subject to change without notice.

1)Joint venture with Taiwan’s biggest conglomerate FarGlory Group to undertake development of Northern Taiwan’s largest ever [(Tentative Name) Taiwan Linkou Outlet Plan] in 2015
2)Construction of a new development office in Taiwan, strengthening our ability to grasp business opportunities

11 December, 2013
Mitsui Fudosan Co., Ltd.

Mitsui Fudosan Co. Ltd would like to announce the signing of a joint venture contract today with a core business unite of Taiwan’s biggest conglomerate FarGlory Group - Farglory Land Development Co., Ltd- for the development of Northern Taiwan’s [(Tentative Name) Linkou Outlet Plan], for which we were assigned as the winning bidder on Feb 27 of this year. Hereafter, the joint company named ‘Sanxin Outlets Co., Ltd.’ will bear all development, sales and other business activities for this project.
[Summary of joint venture]
Company Name: Sanxin Outlets Co., Ltd.
Established: June 5, 2013
Capital: 350 million New Taiwan Dollars (after formation of joint venture)
Business Shares: Mitsui Fudosan Co., Ltd. 70%, Farglory Land Development Co., Ltd 30% (after establishment of joint venture contract)

In addition to their housing business in Taiwan, FarGlory Group has developed office complexes, logistics, finance and insurance, leisure and other businesses in Taiwan, and in the future will also tackle the development of the Taipei Yuanxiong (FarGlory) Dome. Yuanxiong’s know-how of the Taiwan real estate market combined with our own accumulated knowledge of business construction gained from working in Japan form a basis for the smooth execution of the current venture. By strengthening the alliance between our companies, we hope to gain many more opportunities to work together in the future.

Administrative procedures for this project have made good progress, and sales activities towards tenants have also gained high praise. Based on these results we decided to speed up the schedule for starting development from the originally planned 2017 to late 2015.

In order to strengthen our ability to gain more business opportunities in Taiwan, we established (Mitsui Fudosan Asia Ltd. Taipei Branch) in Taiwan on August 23 of this year. In the future, we will continue to expand housing sales, suburban shopping centers, and complex development in Taiwan.

Our group sees overseas development as a growing area, and we are developing business and residential facilities throughout Asia including outlet malls in China (Ningbo, Zhejiang) and LaLaport Shanghai Jinqiao (tentative name) (beginning construction in Dec 2014, opening 2017); in Southeast Asia, we are also developing outlet malls and condos in Kuala Lumpur (Malaysia). For the overseas business, we are planning approx. 500 billion yen of investment up until 2017 under our “Innovation 2017” project (our group’s mid-long term plan running from fiscal years 2012~2017).

Project Projections

[Branch Overview]

Name (Xinjiapo Shang Yazhou) Singapore-Asia Mitsui Fudosan Co. Ltd. Taipei Branch (Mitsui Fudosan Asia Co. Ltd Taipei Branch)
Representative Shinozuka Hiroyuki
Capital 5 million New Taiwan Dollars
Number of Employees 5

[FarGlory Group Overview]

Founding date 1969
Employees 8,000 persons
Assets 400 billion New Taiwan Dollars
Business Summary real estate development, construction, finance and insurance, air shipping, leisure, dome business, business bidding, educational and medical business, overseas business, internet services
  1. Worked on more than 600 construction projects. Constructed 150,000 residential units. Constructed area: 1980 million square meters, 101 building - 56 units (residential: 1089 million square meters; business offices/ factories: 8.91 million square meters)
  2. Residential business: won multiple awards such as the Construction Excellence Award, the National Architecture Gold Quality Award, the Jinshi Award, the Reader's Digest Trusted Brands Platinum Award, and Tenka Magazine’s Excellent Businesses Award
  3. Gained first place in the construction investment rankings for seven years in a row (based on Chinese credit survey research)

Plan Summary & Characteristics

Location in Taiwan Jianlin Duan 381,381-1,382,383, Linkou District, New Taipei City
Business Type Factory Outlet
Building Area Approx 67,340 m2
Store Area Approx 45,000 m2
No. Stores Approx 200 stores
Schedule 2014: Begin construction
2015: Open for business

Our firm was chosen as the undertaker for this plan via BOT (*) bidding which took place in New Taipei City, Taiwan, and consists of the construction of Taiwan’s biggest outlet mall in the northern region.
*BOT (Build Operate Transfer): The government provides land to the private sector and promotes development using private capital.

The location in distance is approx. 30 minutes by car away from Taipei’s central region, or approx. 20 minutes by car from the international airport at Taoyuan. It is also convenient to access via public transport thanks to the “Linkou” MRT station planned for construction in 2015 [confirm latest information], and nearby bus stops. It is also located in the center of the “Linkou Special District” under development by the New Taipei Government, and can expect to house up to 350 thousand residents in the future. It is an area that is ripe with expectation for the future.

The outlet itself will house approx. 200 stores, expected to draw anything from luxury goods to international brands, sports casual, and other styles of fashion. Cinema complexes, supermarkets, various restaurants and more are also planned, satisfying the needs of both local residents and visiting tourists.

This plan marks the first outing for our firm in Taiwan. Taiwan is a top class economic environment even for Asia, and its well developed infrastructure allows for both centrally located department stores and suburban shopping malls to succeed, thanks to the large spread in population afforded by ease of access. This allows us to fully utilize our many years of experience in the business facility arena in Japan to develop this exciting market. In addition, Taiwan’s close affinity with Japan ensures a high population of Japanese tenants, and we hope to cater to their needs while away from home.


Click here to enlarge

Click here to enlarge

Mitsui Fudosan Outlet Malls (as of Nov 2013)

Mitsui Outlet Park Osaka Tsurumi

Osaka-fu, Osaka, Tsurumi-ku, Matsutaomiya 2-7-70
Opened March 1995
Floor area : approx. 9,400 m2
Number of stores : approx. 70 stores

Mitsui Outlet Park Yokohama Bayside

Kanagawa-ken, Yokohama, Kanazawa-ku, Shiraho 5-2
Opened September 1998
Floor area : approx. 15,300 m2
Number of stores : approx. 80 stores

Mitsui Outlet Park Marine Pia Kobe

Hyogo-ken, Kobe, Tarumi-ku,
Kaigandori 12-2
Opened October 1999
April 2006 increased floor space
March 2009 increased floor space
Floor area : approx. 22,800 m2
Number of stores : approx. 130 stores

Mitsui Outlet Park Tama Minami Osawa

Tokyo-to, Hachioji, Minami-Osawa 1-600
Opened September 2000
December 2007 increased floor space
Floor area : approx. 21,100 m2
Number of stores : approx. 110 stores

Mitsui Outlet Park Makuhari

Chiba-ken, Hibino,
Mihama-ku, 2-6-1
Opened October 2000
April 2005 increased floor space
Floor area : approx. 16,300 m2
Number of stores :
approx. 100 stores

Mitsui Outlet Park Jazz Dream Nagashima

Mie-ken, Kuwana,
Nagashima-cho, Urayasu 368
Opened March 2002
July 2006 increased floor space
Sep 2007 increased floor space
Sep 2011 increased floor space
Floor area : approx. 39,300 m2
Number of stores :
approx. 250 stores

Mitsui Outlet Park Iruma

Saitama-ken, Iruma-shi, Miyadera 3169-1
Opened April 2008
Floor area : approx. 32,000 m2
Number of stores :
approx. 210 stores

Mitsui Outlet Park Sendai Port

Mitsui Outlet Park Sendai Port
Miyagi-ken, Sendai,
Miyagino-ku, Nakano Ideka, 123
Opened September 2008
Floor area : approx. 20,000 m2
Number of stores : approx. 120 stores

Mitsui Outlet Park Sapporo Kita Hiroshima

Hokkaido, Kitahiroshima,
Omagarisaiwai-cho 3-7-6
Opened April 2010
( Planned increase in floor space in 2014 )
Floor area : approx. 22,300 m2
Number of stores : approx.
130 stores
(approx. 45 stores scheduled to open in the second period)

Mitsui Outlet Park Shiga Ryuo

Shiga-ken, Gamo-gun, Ryuo-cho, Oaza Kuzushi, Aza Sunayama 1178-694
Opened July 2010
July 2013 increased floor space
Floor area : approx. 37,000 m2
Number of stores : approx. 240 stores

Mitsui Outlet Park Kurashiki

Okayama-ken, Kurashiki,
Kotobuki-cho, 12-1
Opened December 2011
Floor area : approx. 20,000 m2
Number of stores :
approx. 120 stores

Mitsui Outlet Park Kisarazu

Chiba-ken, Kisarazu, Nakajima 398
Opened April 2012
(Planned increase in floor space in Summer 2014) Floor area : approx. 28,000 m2
Number of stores : approx. 170 stores
(Approx. 50 stores scheduled to open in the second period)

(Tentative name) Mitsui Outlet Park Hokuriku Oyabe

Toyama-ken, Oyabe, Nishinakano, Kawaharada
Scheduled to open in 2015
Number of stores :
approx. 150 stores

Sugii Outlet Plaza Ningbo

Qiu-lu 555, Yinzhou District, Ningbo, Zhejiang, China
Opened September 2011
Floor area : approx. 26,000 m2
Number of stores : approx. 130 stores

(Tentative name) Taiwan Linkou Outlet plan

Jianlin Duan 381,381-1,382,383, Linkou District, New Taipei City, Taiwan
Scheduled to open in 2015
Floor area : approx. 45,000 m2
Number of stores :
approx. 200 stores

(Tentative name) Mitsui Outlet Park Kuala Lumpur
International Airport (KLIA)

On the grounds of the Kuala Lumpur International Airport, Malaysia
Scheduled to open in early 2015
Floor area : approx. 25,000 m2
Number of stores : approx. 140 stores