Mitsui Fudosan Co., Ltd. officially announced today, February 28, that it has been selected as the operator of the "Linkou Zhongshang 36 Public Land Enterprise Promotion Project" in New Taipei City, northern Taiwan, and will begin planning an outlet mall.

Mitsui Fudosan has been involved in outlet mall projects in China, residential sales projects in Tianjin and Shanghai, and is currently promoting outlet mall development in Malaysia, but this is its first project in Taiwan. With one of Asia's top economic levels, a growing suburban population due to a developed transportation network, and a shift in consumer trends from central department stores to suburban shopping malls, the company sees Taiwan as a promising market where it can leverage the strengths it has cultivated in Japan in the retail property business.

The property is approximately 30 minutes by car from central Taiwan and 20 minutes by car from Taoyuan International Airport. It is conveniently located near the Linkou subway station and bus stops, scheduled to open in 2013. It is located in the center of the "Linkou Special Zone," a development project being promoted by the New Taipei City Government, with a future population of 350,000.

The outlet facility will be one of the largest in northern Taiwan, with a site area of approximately 67,340 square meters and store area of approximately 45,000 square meters. It will attract a wide range of fashion brands, from luxury to international and sports casual, with approximately 200 stores, and will also include a cinema complex, supermarket, and a variety of dining options. Construction is scheduled to begin in 2015 and open in 2017.

In its "Innovation 2017 (Group Medium- to Long-Term Management Plan for 2012 to 2017)," Mitsui Fudosan has stated that it will invest approximately 500 billion yen in its overseas businesses by fiscal 2017.