Mitsui Fudosan signed a joint venture agreement with Farglory Construction Co., Ltd., a core company of the major Taiwanese conglomerate Farglory Group, on December 11th for the "Taiwan Linkou Outlet Project (tentative name)" in New Taipei City, northern Taiwan, which was decided in February of this year. The joint venture, Sanxin Outlet Co., Ltd., established in June, will be responsible for development, operation, and other aspects of the project. Given that administrative procedures are progressing smoothly and that tenant sales activities have received positive feedback from potential tenants, the opening schedule has been brought forward from the originally planned 2017 to the second half of 2015. The Farglory Group is engaged in residential, office building, logistics, and leisure businesses in Taiwan, and is also involved in the development of the Taipei Farglory Dome, scheduled to open in 2016. By combining its real estate development know-how in Taiwan with the commercial facility business know-how that Mitsui Fudosan has cultivated in Japan, the two companies aim to strengthen their alliance and seize joint development business opportunities.

The Taiwan Linkou Outlet Project (tentative name) will be Mitsui Fudosan's first project in Taiwan. It will be one of the largest outlet malls in northern Taiwan, and is expected to attract a wide range of fashion brands, including luxury, international, and sports casual, with approximately 200 stores. It will also feature a cinema complex, supermarket, and restaurants.