Sanxin Outlets Co., a joint venture between Japanese real estate developer Mitsui Fudosan and Farglory Land Development, signed a contract Tuesday with Taiwan International Ports Corp. (TIPC) to build an outlet mall in the Port of Taichung.
It will be the second Mitsui Outlet Park in Taiwan after the outlet park it built in Linkou District in New Taipei.
The NT$5 billion (US$160 million) deal was signed by Sanxin Outlets Chairman Ichiro Shimomachi and TIPC President Lee Tai-hsin (???) at Taichung City Hall.
The planned Mitsui Outlet Park in Taichung Port will cover 18 hectares, a land area more than twice the size used in the Linkou outlet park project, according to Shimomachi.
He said his company will take advantage of Taichung Port's geographic location and Mitsui's experience in running outlets in the Japanese port cities of Yokohama and Kisarazu in its design and construction of the new complex.
The planned outlet park will be developed as a port resort in which people from different generations can find suitable places for leisure and entertainment activities, and will include a Ferris wheel, a cinema and a restaurant with a view, Shimomachi said.
According to the Taichung Economic Development Bureau, the construction of the new Mitsui Outlet Park is expected to be completed in 2018.
Given Taichung Port's convenient outbound transportation links, the investment project is expected to help promote land and economic development in Taichung's coastal districts, including Shalu, Wuqi, Qingshui, Longjing and Dadu, the bureau said.
The signing ceremony was witnessed by Taichung Mayor Lin Chia-lung (???), Deputy Transportation and Communications Minister Fan Chih-ku (???), TIPC Chairman Wu Men-feng (???) and Mitsui Fudosan executive managing officer Akihiko Funaoka.
Source: Focus Taiwan News Channel