Mitsui Fudosan Commences Phase 2 Development Plan for
MITSUI OUTLET PARK TAICHUNG PORT
Approx. 50 stores scheduled to open in Phase 2 in 2022
Increase scale to approx. 220 stores for a more diverse and satisfactory facility

November 25, 2020
Mitsui Fudosan Co., Ltd.

Tokyo, Japan, November 25, 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 TAICHUNG PORT through project company SAN ZHONG GANG OUTLET CO., LTD. Through this expansion, the number of stores will increase from the current approx. 170 stores to 220.

As the first shopping mall in Taiwan adjacent to a port area, the Phase 1 area of the facility opened in December 2018. In addition to being filled with over 170 stores of famous brands both foreign and Japanese, the facility is equipped with a variety of features such as a new type of entertainment facility that includes a 60 m tall Ferris wheel, an observation deck overlooking the port, and Snow Town, Taiwan’s only indoor snow theme park. Over 8 million people visited the facility in its first year of operation, and it has since been patronized by customers from a variety of age groups. Through this expansion, Mitsui Fudosan aims for an attractive facility that will be supported even further by its customers.

The plan for Phase 2 will see construction of a one-story open mall, invite approx. 50 stores such as Japanese brands and restaurants that are popular in Taiwan, in addition to multi-brand fashion stores and international brands, and generate further activity in the area.

Currently, Mitsui Fudosan is moving forward with five commercial facilities in Taiwan, including properties under development (three OUTLET PARK facilities and two regional shopping centers together with LaLaport). It operates a total of nine facilities 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.

Key Points of this Press Release

• Decided to commence Phase 2 development plan for MITSUI OUTLET PARK TAICHUNG PORT. Opening planned in 2022.
• In the Phase 2 plan, Mitsui Fudosan will invite approx. 50 stores including multi-brand fashion stores, international brands, Japanese brands, and restaurants, increasing the scale of the facility to approx. 220 stores in combination with Phase 1.

Perspective drawing of total area of MITSUI OUTLET PARK TAICHUNG PORT

Perspective drawing of MITSUI OUTLET PARK TAICHUNG PORT Phase 2 interior

MITSUI OUTLET PARK TAICHUNG PORT Phase 1 exterior

Mitsui Fudosan’s Overseas Strategy

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 cities in Taiwan, and the LaLaport business in Shanghai, Kuala Lumpur, and cities in Taiwan. In addition, the Group has been pushing ahead with the housing business in Singapore, Thailand, China, and cities in other Asian countries. The Group has also been conducting the hotel business in Taipei, the logistics facilities business near Bangkok, and the office buildings business in Bangalore. 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.

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 properties in Taiwan, including 11 retail properties, hotels, and housing, and plans to expand the business into logistics facilities and mixed-use developments going forward.

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