Serenia City by Sime Darby Property

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  sm (guest)

  Any idea when will Xiamen University start to build?

  11 years ago | reply | hide comment
• 
  ezuddin

  Any idea where is the location of "The Outlet Shoppes" by Mainstay Properties Sdn Bhd ? KUALA LUMPUR: Mainstay Properties Sdn Bhd, the property arm of Mainstay Holdings Sdn Bhd, which has tied up with United States-based property developer Horizon Group Properties Inc, will be investing RM180mil to develop the first phase of The Outlet Shoppes in Sepang, Selangor. Horizon Group chief investment officer David Nelson said the 300,000-sq-ft retail project would be funded through a combination of debt and equity. “We’ve started to look at retailers and expect a good reception. We’re looking at predominantly retailers from the US and Europe, and selected ones from Malaysia,” he said at a media briefing yesterday. “For the local retailers, we’re targeting those from the banking and food and beverage sectors.” The US-Malaysian joint-venture (JV) sees Mainstay holding the majority stake at 70%. Nelson said construction of the retail outlet was expected to begin in 2014 and open by 2015. “Once opened, The Outlet Shoppes is expected to generate in excess of US$100mil (RM320mil) in annual sales,” said Nelson, adding that the retail outlet would be strategically located. “Sepang is an attractive location. It’s near the airport and would be a natural draw for tourists,” he said. Nelson added that plans were still not firmed up yet for the second phase. “We’re allocating 100,000 sq ft for the second phase. But this could be folded into the first phase, depending on demand.” Nelson said Horizon Group was investing in Malaysia to fast-track its presence in Asia. “Malaysia is a gateway market for us as we expand throughout the region.” The company has 10 retail developments in the United States and one JV project with a local partner in China. Mainstay deputy chairman Terry Teo, meanwhile, said the company had about 16.19ha of land in Sepang that it intended to develop. “While property development is our core business, the opportunity which the premium outlet partnership offers allows Mainstay to learn more about the retail business as well as to grow along with Horizon.”

  11 years ago | reply | hide comment
• 
  A_Syaharuddin_K

  Proposed Serenia City by Sime Darby & JV.

  10 years ago | reply | hide comment