news

Horizon Outlet buys Sime land to build outlet centre

KUALA LUMPUR: Horizon Outlet Shoppes Sdn Bhd has agreed to purchase 16.19ha of land in Salak Tinggi, Sepang, Selangor, from Sime Darby Property Bhd to build the Kuala Lumpur International Outlets (KLIO). Horizon Outlet Shoppes is a joint venture between US-based Horizon Group Properties and Mainstay Holdings Sdn Bhd, a local property and construction firm.

The RM400 million KLIO will offer shoppers 400,000 sq ft of luxury-oriented retail outlets in an elegant setting, it said in a statement last Friday.

Horizon Group’s international leasing director Greg Clarke said he fully expects KLIO to be one of the most popular and groundbreaking among the outlet centres in the world.

“We believe our combination of upscale design, convenient location and value-oriented luxury retail will be very popular with retailers and shoppers alike,” he said, adding that with no luxury-oriented retail outlets serving the seven million residents of Kuala Lumpur and Selangor or its nine million annual tourists, Horizon Outlet Shoppes is confident of filling this market niche.

Construction will begin this year, with the opening  on July 1, 2016.

“With an esteemed local developer partner in Mainstay Holdings Sdn Bhd, our combined outlet and local property market expertise is a tremendous strength for our project,” Clarke said.

In addition, KLIO’s role in anchoring a new 951ha township that will be developed by Sime Darby Property will be a true community asset ensuring year-round demand for its stores and amenities, said Horizon Group. — Bernama


This article first appeared in The Edge Financial Daily, on April 28, 2014.

 

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