Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced that it has decided to commence the Phase 2 development plan for MITSUI OUTLET PARK LINKOU in Taiwan.
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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.
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 Mainland China).
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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.