Accelerating the Outlet Mall Business in Taiwan with First Entry into Southern Taiwan Mitsui Fudosan Decides to Develop
MITSUI OUTLET PARK TAINAN (tentative name)
Opening Planned for 2022

October 2, 2018
Mitsui Fudosan Co., Ltd.

Key Points of the Project

• Taiwan’s third Mitsui Outlet Park and Ninth Retail Property in Asia operated by the Mitsui Fudosan Group
• Mitsui Fudosan’s first entry into Tainan metropolitan area, one of Taiwan’s three largest urban centers, with outlet business development covering all three centers
• Located in front of Tainan HSR Station and Shalun Station on the TRA Shalun Line and offers convenient access by car, as it is close to interchanges on the freeway running North-South through Taiwan

Tokyo, Japan, October 2, 2018, 2019 - Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo announced the conclusion of an “Agreement for Development and Management of Station Zone(Business Development Area ) in Tainan HSR Station District”with the land manager the Taiwan Railways Administration through the project company for the project, SANNAN OUTLET CO.,LTD*. Under the plan, Mitsui Fudosan will proceed with the development of Taiwan’s third Mitsui Outlet Park, “MITSUI OUTLET PARK TAINAN (tentative name),”with construction scheduled to start in 2020 and the facility opening planned for 2022.

The site for the project is located in the Tainan metropolitan area, one of Taiwan’s three largest urban centers, approximately 16 km southeast from central Tainan and around 41 km to the north of central Kaohsiung. The site is close to Tainan HSR Station and Shalun Station on the TRA Shalun Line, and offers excellent access from freeway interchanges.

The Tainan metropolitan area represents an enormous catchment area with a population of 6.4 million, approximately 6 million of whom live within a one-hour drive from the project site. The city of Tainan is full of character as an ancient city that attracts more than 20 million visitors a year. The site is also near Tainan HSR Station, which has around 8 million users per year, and in the heart of the Shalun Smart Green Energy Science City development being promoted by the Taiwanese authorities. There are expectations for further development in the area, including plans to build a convention center and a research laboratory.

Furthermore, the facility is expected to open in its first phase in 2022 (planned) with approximately 160 stores, followed by a second phase in 2025 (planned) with a scale of around 220 stores, making it one of the largest full-fledged outlet malls in Tainan.

In addition to a wide range of fashion and sporting brands, the facility will feature a dining area offering the chance enjoy popular Japan-based restaurants and local gourmet outlets, as well as an entertainment facility. It is thus intended to serve as a retail property offering all-day enjoyment that meets the needs of a wide range of customers, including residents not only of Tainan and Kaohsiung, but the entire Tainan metropolitan area as well as domestic and foreign tourists.

Mitsui Fudosan’s participation in this project will enable it to develop its outlet business in all of Taiwan’s three largest urban centers (Taipei metropolitan area, Taichung metropolitan area, and Nanbu metropolitan area). The Company will strive to create a retail property that is even more appealing by leveraging the synergies between MITSUI OUTLET PARK LINKOU, which has delivered brisk sales since its opening in 2016, and MITSUI OUTLET PARK TAICHUNG PORT, which is scheduled to have its grand opening on December 12, 2018. In doing so, the Company will make full use of the expertise it has accumulated in development, leasing, and operation at over 100 Mitsui Fudosan Group retail properties in Japan and overseas.

Perspective drawing of MITSUI OUTLET PARK TAINAN (tentative name)

Project Overview

The Mitsui Fudosan Group’s Business in Taiwan

In 2016, the Mitsui Fudosan Group established Mitsui Fudosan Taiwan Co., Ltd., a subsidiary in Taiwan as an investment base. The Group is developing eight properties in Taiwan, including retail properties, hotels, and housing. Going forward, the Group plans to expand the business into logistics facilities and mixed-use developments.

Mitsui Fudosan’s Overseas Strategy

One of the aspirations of VISION 2025, the Mitsui Fudosan Group Long-Term Vision, is to “evolve into a global company.”Accordingly, the Group will continue to seek robust growth in the overseas business. Mitsui Fudosan has been conducting business in countries and regions in Asia, in addition to the U.S. and the U.K. In the retail property business, the Group has been promoting projects in the fast-growing Asian region, such as outlet malls in Kuala Lumpur and Taiwan, and the LaLaport business in Shanghai, Kuala Lumpur, and Taiwan. In addition, the Group has been pushing ahead with the housing business in Singapore, Thailand, Malaysia, Indonesia, the Philippines China and Taiwan. In these and other ways, the Group has been actively pursuing business in Asia with the view of capturing growing consumer spending and expanding profits at the earliest opportunity in conjunction with contributing to local communities.

*About SANNAN OUTLET CO.,LTD.
SANNAN OUTLET CO.,LTD. is a wholly owned project company established by Mitsui Fudosan Co., Ltd. to advance this project.

Map

Map of the surrounding area

Map of central area

Mitsui Fudosan’s Outlet Malls (as of October 2, 2018)

Mitsui Fudosan’s retail properties overseas (as of October 1, 2018)