* 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.
March 24, 2020
Mitsui Fudosan Co., Ltd.
Tokyo, Japan, March 24, 2020—Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it has decided to commence the Phase 2 development plan for MITSUI OUTLET PARK LINKOU. This expansion will increase the number of stores from around 220 at present to around 310, driving the evolution of the property into one of Taiwan’s largest outlet mall.
This property enjoys a highly accessible location, situated about 30 minutes’ drive from central Taipei, about 20 minutes’ drive from Taoyuan International Airport and about 5 minutes’ walk from the MRT Linkou Station. Since it opened in January 2016, the shopping mall has attracted a large number of visitors centered on customers from northern Taiwan, including the local Linkou area. It serves as an outlet mall featuring a diverse range of merchants, from outlet stores to restaurants, food courts, a cinema complex, and a luxury supermarket. Sales at the property have increased steadily every year. Through this expansion, Mitsui Fudosan seeks to develop an attractive shopping mall which will attract more customers.
Mitsui Fudosan had submitted a tender for the planned Phase 2 site through the Linkou Media Park Request for Tender, which was carried out in December 2019. In the process, Mitsuifudosan was selected as the most successful bidder for the planned site. Accordingly, Mitsui Fudosan has concluded an investment agreement with the New Taipei City government through Sanxin 2 Outlet Co., Ltd. (三新二奥特斯股份有限公司), the project company for the Phase 2 development.
Looking at the composition of stores for Phase 2, Mitsui Fudosan will seek to attract outlet stores primarily for international and Japanese brands, along with upgrading and expanding the lineup of eateries, for which there is strong demand from customers and employees expected to work at Linkou Media Park in the future. The introduction of large specialty stores and entertainment facilities will also be considered as part of efforts to add even more energy and excitement to this area
Currently, Mitsui Fudosan is carrying out the outlet mall business at three properties in Taiwan. Together with LaLaport properties, Mitsui Fudosan operates five retail properties in Taiwan (ten properties throughout Asia, including Malaysia and China). The Mitsui Fudosan Group will maximize the expertise it has cultivated in the course of developing, leasing, and operating over 100 retail properties in Japan and throughout the world, and will focus on further expanding its overseas business going forward.
Prospective rendering of the MITSUI OUTLET PARK LINKOU Phase 2 development plan
|Location||No. 386, 387, 388, Jianlin Duan, Linkou Dist., New Taipei City, Taiwan|
|Access||Approx. 30 minutes’ drive from central Taipei
Approx. 20 minutes’ drive from Taoyuan International Airport
Five minutes’ walk from MRT Linkou Station
|Project developer||Phase 1
Sanxin Outlets Co., Ltd.
(Ownership: Mitsui Fudosan Co., Ltd. 70%; Farglory Land Development Co., Ltd. 30%)
Sanxin 2 Outlet Co., Ltd.
(Share of business: Mitsui Fudosan Co., Ltd. 100%)
|Business format||Multi-use retail properties including factory outlet malls|
|Phase 1||Phase 2||Total for phases 1 and 2|
|Site area||Approx. 724,841 ft2 (approx. 67,340 m2)||Approx. 300,528 ft2 (approx. 27,920 m2)||Approx. 1,025,370 ft2 (approx. 95,260 m2)|
|Total floor area||Approx. 1,513,190 ft2 (approx. 140,580 m2)||Approx. 976,824 ft2 (approx. 90,750 m2)||Approx. 2,490,015 ft2 (approx. 231,330 m2)|
|Store floor space||Approx. 484,375 ft2 (approx. 45,000 m2)||Approx. 294,823 ft2 (approx. 27,390 m2)||Approx. 785,012 ft2 (approx. 72,930 m2)|
|Number of stores||Approx. 220||Approx. 90||Approx. 310|
|Schedule||January 27, 2016 Phase 1 opening
2021 Phase 2 construction start (planned)
2024 Phase 2 opening (planned)
One of the aspirations of VISION 2025, the Mitsui Fudosan Group’s long-term management policy, 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 the outlet mall business 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. The Group has also been conducting the hotel business in Taiwan, the logistics facilities business in Thailand, and the office buildings business in India. In these and other ways, the Group has been actively pursuing business in fast-growing Asia with the view of capturing growing consumer spending and expanding profits at the earliest opportunity in conjunction with contributing to local communities. Going forward, the Group will continue aiming to expand its businesses further.
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|
|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)||2022 (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||Sansong MPARK||2021 (planned)|
Local area map
|Country/Region||Property||Opening year||Number of stores(approx.)||Storefloor space(approx.)|
|China||Shanjing Outlet Plaza-Ningbo||Phase 1: 2011
Phase 2: 2015
Phase 3: 2019
|Mitsui Shopping Park LaLaport Shanghai Jinqiao(tentative name)||2020 (planned)||200||Approx. 645,834ft2
|Lianhua Road Station Building Retail Facilities (tentative name)||2021 (planned)||90||Approx. 177,604ft2
|Taiwan||MITSUI OUTRET PARK LINKOU||2016||220||Approx. 484,375ft2
|MITSUI OUTRET PARK TAICHUNG PORT||December 2018||170||Approx. 376,736ft2
|Mitsui Shopping Park LaLaport NANGANG (tentative name)||2022(planned)||250||Approx. 753,473ft2
|MITSUI OUTRET PARK TAINAN (tentative name)||Phase 1: 2022 (planned)||160||Approx. 355,209ft2
|Phase 2: 2025 (planned)||60||Approx. 123,785ft2
|Mitsui Shopping Park LaLaport TAICHUNG (tentative name)||2023 (planned)||250||Approx. 721,182ft2
|Malaysia||MITSUI OUTRET PARK KLIA SEPANG||Phase 1: 2015||130||Approx. 258,333ft2
|Phase 2: 2018||70||Approx. 106,562ft2
|Phase 3: 2021 (planned)||50||Approx. 108,715ft2
|Mitsui Shopping Park LaLaport KUALA LUMPUR(tentative name)||2021 (planned)||300||Approx. 889,099ft2
|Total||10 properties||2,200||Approx. 5,539,108ft2