MFMA Development to kick-start Mitsui Outlet Park’s 3rd phase expansion

Its director says phase 3 of MOP KLIA’s expansion is expected to be completed by 2021

By KEVIN WONG / Pic By BERNAMA

MFMA Development Sdn Bhd plans to kick-start construction work for its phase three expansion in 2020 following the launch of the Mitsui Outlet Park KLIA Sepang’s (MOP KLIA) second phase expansion.

MFMA Development — which is a joint venture between Mitsui Fudosan Co Ltd and Malaysia Airports Holdings Bhd (MAHB) — has invested about 10 billion yen (RM358 million) for the entire development of the only factory outlet shopping mall within the Klang Valley.

Its director Tatsuro Irino said phase three of MOP KLIA’s expansion is expected to be completed by 2021, where it will increase about 2.4 acres (or 9,900 sq m) in retail space.

“The third expansion will house an additional 50 retail outlets, which brings the total outlets to 250. With that said, we target to hit 17 billion yen in revenue by 2025,” he said, adding that with the expansion, MOP KLIA will be the largest factory outlet shopping mall in South-East Asia.

According to Irino, MOP KLIA’s retail revenue saw an increase of 110% in 2017 compared to the previous year. He, however, did not disclose any figures.

He added that the factory outlet drew in about four million visitors last year.

“We are expecting to hit eight million customers in 2025, following the opening of our third phase expansion in 2021.

“Moreover, 80% out of the four million customers are Malaysians, while travellers make up the remaining 20%. Our fundamental target market is locals. However, we are also looking to increase the number of travellers to the mall,” he said.

Irino said the mall is targeting to change these numbers to 60% locals and 40% travellers.

MOP KLIA is able to accommodate an additional 70 new stores, as well as 420 parking lots — bringing that number to a total of 2,520 parking lots with the launch of its Phase 2 expansion.

The new expansion features three new concepts: River Walk, Sky Walk and also Sea Resort.

Transport Minister Datuk Seri Liow Tiong Lai who officiated the event said the cohesive and attuned partnership between MAHB and Mitsui Fudosan would definitely steer and grow MOP KLIA to become South-East Asia’s largest outlet mall.

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