With the goal of operating Southeast Asia's largest outlet mall by 2021, Japanese real estate developer Mitsui Fudosan Co. has expanded its factory outlet shopping mall at Kuala Lumpur International Airport.
The recent completion of the second phase at Mitsui Outlet Park KLIA Sepang, which opened in 2015, boosted the number of stores by 70 to a total of 200, with a 2021 target to house 250 stores on a total commercial space of 44,000 sq. meters, the company said.
Describing the expansion as "an important milestone" for the project, Akihiko Funaoka, executive managing officer of Mitsui Fudosan, said in a statement, "It demonstrates the progress we are making toward becoming the largest factory outlet mall in Southeast Asia."
MFMA Development Sdn. Bhd., a joint venture with the government-backed Malaysia Airports Holdings Berhad, manages the outlet mall.
Among the additional 70 shops are the first outlet stores in the country for 24 brands such as the Beauty Laboratory by Shiseido and G-Shock.
Tatsuro Irino, director of the joint venture, said at an opening ceremony that the outlet mall saw 10 percent year-on-year growth in sales with 4 million visitors in 2017.
The venture aims "to achieve ¥17 billion ($160 million) in sales after opening the third phase (in 2021)," he said.
The outlet mall, situated on the compound of the international airport, provides flight check-in services and shuttle buses to terminal buildings.
Along with the government's aspiration to make Malaysia a tourism hub in the region, the joint venture aims to increase the percentage of foreign travelers visiting the mall to 40 percent from the current 20 percent through its planned expansion, Irino added.