Magazines Archives - 2010 Sep
Johor Premium Outlets centre commences development
Story 5 - News
MALAYSIAN conglomerate Genting Group and US real estate developer Simon Property Group have broken ground for the first Premium Outlets centre in South-east Asia, slated to become a shopping destination for brand-conscious shoppers in the region.
Located in Malaysias southernmost state of Johor, the Johor Premium Outlets centre is scheduled to open in mid-2011. The RM149-million (US$48- million) 330,000sqf complex will house designer brands that range from fashion to sportswear, childrens wear, shoes, accessories and jewellery, with savings of up to 65% off regular prices.
Said Tan Sri Lim Kok Thay, chairman and CEO of Genting Berhad: It will create a first-of-its-kind shopping experience in South-east Asia, by offering a variety of designer brands and fashion items at very attractive prices.
The first-phase opening of the development on a 44-acre site will see up to 90 high-end brands and designer stores span across 175,000sqf of gross leasable area, and have parking facilities for about 3,000 cars and 30 coaches, the company said.
The centre is located at the intersection of the North-South Expressway and the Malaysia-Singapore Second Link Expressway, making the upscale mall easily accessible to traffic going to and from Johor and Singapore.
It is also a short drive from Johors Senai International Airport, an hours drive from the city centre of Singapore and around three hours drive from Kuala Lumpur.
Lim added that the company plans to provide a shuttle service to the mall for overseas and Singaporean visitors at Resorts World Sentosa. Johor Premium Outlets is an exciting addition to the Genting Groups operations and also reaffirms our continuous commitment to the [growth] of the Iskandar Development Region as well as the countrys tourism industry, Lim continued.
In the second phase of the development, the company plans to offer other attractions, such as a hotel and a water-theme park, to complement the mall. We have not looked at how much will be invested on the additional attractions and they will be [built] according to market needs, Lim stated.
Commented John R Klein, CEO of Premium Outlets, the outlet division of Simon Property Group: We are delighted to have had the opportunity to develop this exciting project with the Genting Group. Johor Premium Outlets is the first Premium Outlets centre in Malaysia and will build on the phenomenal success of the Premium Outlets portfolio worldwide.
Johor Premium Outlets, a 50:50 joint-venture between the two companies, will add to the 52 Premium Outlet centres, which are located in the US, Japan, South Korea and Mexico. ra
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