news

Horizon & Mainstay to invest RM180 million for premium outlet mall in Sepang

KUALA LUMPUR: United States-based Horizon Group Properties Inc and Mainstay Properties Sdn Bhd will jointly invest more than RM180 million to develop the first phase of 'The Outlet Shoppes', a premium
outlet mall in the vicinity of the Kuala Lumpur International Airport in Sepang.

Horizon Chief Investment Officer and Managing Director for Asia David Nelson said the entire project, owned by Mainstay Properties, would be developed in phases over 17.6 hectares.

The development would be undertaken through a 30:70 joint venture between Horizon and Mainstay, he told a press conference here today.

Nelson said the first phase would consist of a mall - similar to the concept of the famous-Johor Premium Outlet - occupying 10.8 hectares of land, with 300,000 square feet of net lettable retail space.

"For the second phase, we are planning a residential plus commercial development but it is still in the planning stage. Our current focus is the mall. The investment for the second phase will be more or less similar to the first phase," he added. - Bernama

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE