* 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.
May 23, 2019
Mitsui Fudosan Co., Ltd.
Tokyo, Japan, May 23 2019 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that through project company Mitsui Fudosan Taiwan Co., Ltd. (hereafter “Mitsui Taiwan”) work is progressing steadily on Mitsui Shopping Park NANGANG (tentative name), a project decided in January 2017. A ceremony for the beginning of construction was jointly held today by the Taiwan Life Insurance Co., Ltd. (hereafter “Taiwan Life”), a subsidiary of CTBC Financial Holding Co., Ltd. and real estate developer for the entire building. Construction will start soon, the facility is scheduled to open for business in 2021 as Mitsui Fudosan’s first LaLaport in Taiwan. Mitsui Fudosan has also decided to develop a second LaLaport business in Taiwan, Mitsui Shopping Park LaLaport TAICHUNG (tentative name).
The facility’s project site is located approx. 20 minutes by car from Taipei Station in the Nangang District in the eastern part of Taipei, 1 minute on foot from Nangang Softwarepark Station on the Taipei Metro (MRT) and 3 minutes on foot from Nangang Exhibition Center Station. The location is near Nangang Jingmao Park, which is progressing with a new city center possessing multi-faceted neighborhood creation such as office, retail, and residential facilities and a convention center. The new city center is expected to undergo further development. Mitsui Fudosan will undertake bulk rental of the retail mall portion of a multi-use building with offices and halls that was developed by Taiwan Life, and plans to operate the retail mall as Mitsui Shopping Park LaLaport NANGANG (tentative name).
Under the concept of “The Gate to Diversity,” the facility strives to become a symbol of progression and diversity in the Nangang area, and serve as the door to a diverse world where visitors can make discoveries and experiences previously unseen in the area. As a landmark of Nangang, Mitsui Fudosan is considering the introduction of facilities that will be beloved by local residents as a place where nature and people coexist, such as restaurants that offer new ways to dine, specialty shops that can convey refined urban trends and lifestyles, and entertainment that the whole family can enjoy. In addition to the growing resident population in the vicinity of the planned location, the shopping center is aiming to become a retail facility tailored to the needs of various customers such as office workers commuting to Nangang Jingmao Park and convention center visitors, and a place where people can enjoy their time shopping throughout the day.
This project utilizes the business performance and favorable reception after the openings of MITSUI OUTLET PARK LINKOU and MITSUI OUTLET PARK TAICHUNG PORT, and is expected to become the first LaLaport business in Taiwan to gather a wide range of popular Taiwanese and Japanese shops. The Mitsui Fudosan Group will maximize the expertise it has cultivated in developing, leasing and operating over 100 commercial facilities in Japan and overseas.
|Location||Nangang Block C3，No. 15, Jingmao Sec., Nangang Dist., Taipei City, Taiwan|
|Access||One minute on foot from the Nangang Softwarepark Station on the MRT Wenhu Line
Three minutes on foot from the Nangang Exhibition Center Station on the MRT Bannan Line and MRT Wenhu Line
Short journey from National Expressways (Nos. 1 & 3) and the Expressway Interchange
|Project developer / Operations management||The retail mall portion (Floors B1-6) will be rented and operated by Mitsui Fudosan Group in a multi-use building developed and owned by Taiwan Life|
|Business format||Regional shopping center|
|Site area||Approx. 447,100 ft² (Approx. 41,537 m2)|
|Total floor area||Approx. 1,448,822 ft² (approx. 134,600m2) (Commercial part)|
|Store floor space||Approx. 753,473 ft² (Approx. 70,000 m2)|
|Structure and scale||Reinforced concrete / steel structure, 27 floors above ground, 5 floors below ground
Retail area: B1 to 6 (Project portion)
|Architectural Design||C.Y. Lee & Partners|
|Construction||RSEA engineering corporation|
|Environmental design||SEMBA CORPORATION|
|Number of stores||Approx. 250|
|Opening||2021 (planned, Retail area precedent opening)
In 2016, the Mitsui Fudosan Group established Mitsui Fudosan Taiwan Co., Ltd., a subsidiary in Taiwan, as an investment base. The Group is developing nine properties in Taiwan, including retail properties, hotels, and housing, and plans to expand the business into logistics facilities and mixed-use developments going forward.
|Main purposes||Location||Property name||Opening / Completion of construction|
|Outlet park||Linkou District, New Taipei City||MITSUI OUTLET PARK LINKOU||January 2016|
|Taiwan Blvd Section 10, Wuqi District, Taichung||MITSUI OUTLET PARK TAICHUNG PORT||December 2018|
|Gueiren District, Tainan||MITSUI OUTLET PARK TAINAN (tentative name)||2022 (planned)|
|Regional shopping center||Nangang District, Taipei||Mitsui Shopping Park LaLaport NANGANG (tentative name)||2021 (planned)|
|East District, Taichung||Mitsui Shopping Park LaLaport TAICHUNG (tentative name)||2023 (planned)|
|Hotel||Da’an District, Taipei||Zhongxiao Xinsheng Hotel (tentative name)||2020 (planned)|
|Zhongzheng District, Taipei||Zhongshan Zhongxiao Hotel (tentative name)||2022 (planned)|
|Songshan District, Taipei||Dunhua North Road Hotel (tentative name)||2024 (planned)|
|Housing||Sanchong District, New Taipei City||Sanchong Zhongxing Bridge Project (tentative name)||2021 (planned)|
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 US and the UK. In the retail property business, the Group has been promoting projects in the fast-growing Asia 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.
|Country/Region||Property||Opening year||Number of stores(approx.)||Storefloor space(approx.)|
|China||Shanjing Outlet Plaza-Ningbo||(phase 1)2011(phase 2)2015||190||39,700m2|
|Mitsui Shopping Park LaLaport Shanghai Jinqiao(tentative name)||2020 (planned)||200||60,000m2|
|Lianhua Road Station Building Retail Properties (tentative name)||2020 (planned)||90||16,500m2|
|Taiwan||MITSUI OUTRET PARK LINKOU||2016||220||45,000m2|
|MITSUI OUTRET PARK TAICHUNG PORT||2018||170||35,000m2|
|Mitsui Shopping Park LaLaport NANGANG (tentative name)||2021(planned)||250||70,000m2|
|MITSUI OUTRET PARK TAINAN (tentative name)||(Phase 1) 2022 (planned)||160||33,000m2|
|(Phase 2) 2025 (planned)||60||11,500m2|
|Mitsui Shopping Park LaLaport TAICHUNG (tentative name)||2023 (planned)||250||67,000m2|
|Malaysia||MITSUI OUTRET PARK KLIA SEPANG||(Phase 1)2015||130||24,000m2|
|(Phase 3) 2021 (planned)||50||10,100m2|
|Mitsui Shopping Park LaLaport KUALA LUMPUR(tentative name)||2021 (planned)||300||82,600m2|