PENANG TO GET MITSUI OUTLET SOON?
Company confident of getting nod from state government by third quarter
MITSUI Fudosan Co Ltd and joint venture partner Malaysia Airports Holdings Bhd (MAHB) are awaiting the nod from the Penang government to set up a Mitsui Outlet in the state.
They expect to get the approval for the new mall, which will be located near the Penang International Airport (PIA), by the third quarter.
“We’re planning to open (an outlet mall) in Penang. We don’t have a launch date yet but we’re getting there,” MFMA Development
Sdn Bhd managing director T.J. Cheah told the New Straits Times.
MFMA Development is a 70:30 joint venture between Mitsui and MAHB, with the Japanese retail giant holding the majority stake.
Cheah said it decided to open a Mitsui Outlet in Penang as it saw opportunities in the northern region.
News about the mall were first reported in 2018, when the then Penang Federal Action Council chairman Datuk Seri Zainal Abidin Osman was quoted as saying it would be part of the PIA expansion plan.
Cheah said Mitsui Outlets had gained traction over the years, especially among shoppers in the middle-income group.
“Once shoppers realised that the products we offered that were below their original prices, they started coming here to look for good deals.”
Mitsui and MAHB recently launched Phase 3 of the Mitsui Outlet Park KLIA in Sepang, which now featured a sports zone and contemporary home and living offerings.
The Phase 3, which has about 82,885 sq ft of gross floor area, houses two new tenants in Objet and Courts, as well as concept stores by Adidas, Nike and Puma.
Cheah said the launch was timely as the mall was seeing increasing footfall, especially after the government ended the Covid19 restrictions and opened the country’s international borders.
He said the pandemic had been challenging for the outlet but, at the same time, allowed the company to leverage digital marketing as the main communication channel with shoppers.
When asked if online shopping
would ever trump brick-andmortar outlets, he said the latter remained relevant in the retail industry, particularly in Southeast Asia, although online shopping would continue to grow.
“Consumers (in Southeast Asia) prefer to touch and feel things. People drive all the way to Mitsui Outlet KLIA to see the products for themselves and to feel, test and wear them before making their purchases,” he said, adding that the mall was expected to welcome about four million visitors this year.