MFMA Development Sdn Bhd – a joint venture company started in August 2013 between Mitsui Fudasan and Malaysia Airports – will undertake the construction, leasing to tenants, promotions as well as the management and operations of potentially the largest outlet mall in South East Asia.
The Secretary General of the Ministry of Tourism and Culture Malaysia, YBhg, Datuk Dr Ong Hong Peng officiated the ground breaking ceremony for the commencement of the construction of the Mitsui Outlet Park KLIA today. This signals a significant start to the development of the factory outlet park, under the KLIA Aeropolis effort.
The said company is 70% owned by Mitsui Fudasan and 30% owned by Malaysia Airports. Spearheading the joint venture company is Mr Takehito Fukui from Mitsui Fudosan as the Managing Director.
The Mitsui Outlet Park KLIA is about 60 km south from the Kuala Lumpur city centre and 6km from KL International Airport. There are also plans in the pipeline to provide a shuttle bus service from KLIA to the outlet and to erect check-in counters, and flight information display boards, in the outlet itself.
PARTNER NEGOTIATIONS IN FULL SWING
MFMA Development is currently in negotiation with potential business partners and is expected to introduce a myriad of brands and products that will attract customers of different demographics, locals and globe trotters alike.
The Outlet Park, which will include up to 140 commercial units spanning a space of 25,000sqm under Phase 1, is due to open its doors to the public by early 2015. With the theme ‘Paradise Village’, the JV company says the Mitsui Outlet Park KLIA will be the largest outlet park in Southeast Asia ‘showcasing entertainment and shopping, complemented by recreation and relaxation’.
The Mitsui Outlet Park KLIA will feature four distinctive concepts namely the Sunshine Square, Pier Walk, Tropical Plaza and Beach Walk, each representing the architectural design of each zone. “The Pier Walk concept promotes accessibility within the dynamic mall space while the Tropical Plaza and Beach Walk promote a relaxing ambiance enriched with greenery and curvy streets, delighting customers with an ambience likened to a tropical beach escape,” says MFMA.
The Mitsui Outlet Park KLIA will offer a wide variety of brands and products encompassing luxury brands, specialty boutiques and sports brands from Europe, the United States and Asia including from Japan and Malaysia.
JAPANESE LIFESTYLE STORE
“Another interesting attraction will be the unveiling of a Japanese specialty store where the lifestyle and culture of Japan comes alive through the showcase of Japanese Food Culture, traditional arts and crafts, delicacies and technology,” says MFMA.
“As the economy of Malaysia continues to grow and with KLIA gaining importance as a regional hub, the Mitsui Outlet Park KLIA is positioned to be the most sought after commercial facility in Southeast Asia,” said Mr Takeshi Suzuki, Managing Officer of Mitsui Fudosan.
Mr Takehito Fukui, Managing Director of MFMA Development (Second from the right) explaining the model of the Mitsui Outlet Park KLIA to (From left to right) YBhg Datuk Dr Ong Hong Peng, Secretary General of Ministry of Tourism and Culture Malaysia; YBhg Tan Sri Dato’ Sri Dr Wan Abdul Aziz Wan Abdullah, Chairman of Malaysia Airports; Mr Takeshi Suzuki, Executive Managing Officer of Mitsui Fudosan; YBhg Tan Sri Bashir Ahmad, Managing Director of Malaysia Airports and (Far right) Dr Kazuhiro Kawase, Economic Counsellor of Embassy of Japan in Malaysia.
“The Mitsui Outlet Park KLIA will certainly further enhance the spectrum of attractions in Malaysia”, said YBhg Datuk Dr. Ong Hong Peng. Datuk Dr Ong Hong Peng added that hosting the potentially largest factory outlet shopping mall in Southeast Asia would be a massive leap forward in providing the convenience of quality and competitive shopping.
Phase 1 development has taken into consideration the commercial market potential in Kuala Lumpur in terms of the increase in population, income level, and the number of tourists.
KLIA ‘IMPRESSIVE TRAFFIC’
MFMA says that passenger movements in KLIA have been encouraging. In 2013, KLIA registered over 47m passengers with a 19% increase from the previous year of 39m passengers. In the same year, ACI ranked KLIA as the world’s 20th busiest airport based on overall passenger movements and the world’s 11th busiest for international passenger movements.
The Final Master Plan, which encompasses development stage of Phase 2 and 3 by 2018 and 2021 will increase commercial space to 46,300sq m, whilst housing approximately 260 shops.
Mitsui Outlet Park KLIA is an integral aspect of the KLIA Aeropolis Plan, a development mix of commercial real estate that will include offices, commercial establishments, a convention centre, logistics facilities, a theme park, golf courses, and many other attractive projects. The outlet will be developed in approximately 180,000sqm area of land.
“The Mitsui Outlet Park KLIA is poised to be a destination of choice regionally and a stimulus for the development under the KLIA Aeropolis Masterplan”, said YBhg Tan Sri Dato’ Sri Dr Wan Abdul Aziz Wan Abdulllah, Chairman of Malaysia Airports.
YBhg Datuk Dr Ong Hong Peng, Secretary General of Ministry of Tourism and Culture Malaysia (Fourth from the left) officiated the ground breaking ceremony for the Mitsui Outlet Park KLIA. Also present at the ceremony are –
(From left to right) Mr Satoshi Hattori, Managing Executive Officer of Nakano Construction; YBhg Tan Sri Bashir Ahmad, Managing Director of Malaysia Airports; YBhg Tan Sri Dato’ Sri Dr Wan Abdul Aziz Wan Abdullah, Chairman of Malaysia Airports;
(From right to left) Mr Takehito Fukui, Managing Director of MFMA Development; Mr Oobayashi, General Manager of Mitsui Fudosan; Mr Takeshi Suzuki, Executive Managing Officer of Mitsui Fudosan and Dr Kazuhiro Kawase, Economic Counsellor of Embassy of Japan in Malaysia.
“The project dovetails perfectly with our new vision of becoming ‘The Global Leader in Creating Airport Cities’. This project not only demonstrates our commitment but it also serves as a catalyst towards achieving this vision,” Tan Sri Wan Abdul Aziz added.
Malaysia Airports sees this joint venture as a pacesetter for the development of KLIA Aeropolis and it will boost the confidence of investors and developers in the commercial potential of KLIA land. Malaysia Airports is pleased to form this strategic partnership with Mitsui Fudosan which has vast experience and proven track record in real estate development including the development and marketing of outlets. Amongst the most important benefits from this project is the opportunity to further expand Malaysia Airports’ commercial revenue base.
The Mitsui Outlet Park is the first major joint venture shopping mall project in Southeast Asia for Mitsui Fudosan and it will be the largest outlet establishment by the said company.
Mitsui Fudosan regards the overseas projects as a growing field. It has developed and managed an outlet mall in Ningbo, China, and has plans for similar outlet mall projects in Taiwan, and LaLaport project in Shanghai Jin Qiao.
Mitsui Fudosan also developed housing projects in Tianjin Eco-City, as well as Shanghai New Town “Haoshihuang ma yuan.” With a focus on property development and commercial projects, Mitsui Fudosan sets further engagement in business deployment in Southeast Asia in the future as one of its strategies for further growth. To date, Mitsui Fudosan has drawn up an investment of 500 billion yen in Europe and the United States, as well as Asia by fiscal 2017 in Innovation 2017 (Mitsui Fudosan’s group medium to long-term business plan 2012 – 2017).
Also present at the Ground Breaking ceremony are YBhg Tan Sri Bashir Ahmad, Managing Director of Malaysia Airports, Mr Takehito Fukui, Managing Director of MFMA Development Sdn Bhd. and Dr Kazuhiro Kawase, Economic Counsellor from the Embassy of Japan.