TAIPEI (CNA) — Another Mitsui Outlet Park broke ground in Tainan City on Monday, and will soon become the third outlet to be operated by Japanese real estate developer Mitsui Fudosan Co. in Taiwan.
The third Mitsui Outlet Park — coming after the first one located in Linkou of New Taipei and the second in Taichung — will be built adjacent to the Taiwan High Speed Rail’s station in Tainan, southern Taiwan, and the investment is expected to bring the largest shopping center to the city.
According to Mitsui Fudosan, construction of the third Mitsui Outlet Park will be completed in two stages.
Under the first phase, 160 stores will be built on a total of 64,000 square meters of floor space. Phase 1 is scheduled to become operational in 2022.
In the second phase, there will be an additional 80 stores in a floor area of 18,000 square meters. Phase 2 is scheduled to begin operations in 2025.
However, Mitsui Fudosan did not disclose any financial terms for the third outlet park, emphasizing only that the investment will add jobs to Tainan.
Addressing the groundbreaking ceremony, Transportation Minister Lin Chia-lung (林佳龍) said Tainan has already built a green energy development park and smart driving development center near the High Speed Rail station. Along with the new outlet park, the district is expected to create a lot of business opportunities.
Lin said the central government will work closely with the Tainan City Government to build roads and other transportation facilities to make the district more prosperous.
Also among the guests at the groundbreaking ceremony, Vice President-elect Lai Ching-te (賴清德), who used to serve as Tainan mayor from December 2010 to September 2017, said as mayor, he introduced the location to Mitsui Fudosan when the Japanese developer expressed a desire to build an outlet in Tainan.
Lai said the upcoming outlet park is expected to provide convenience for people not only in Tainan but also visitors from neighboring cities and counties such as Yunlin, Chiayi and northern Kaohsiung.
He added that he has high hopes that the district will become one of the fastest developing areas in the city.
Commenting on the new outlet, the Ministry of Economic Affairs said since Japan is one of the favorite destinations for Taiwanese tourists, it is not surprising that Japanese developers, like Mitsui Fudosan, are willing to invest in Taiwan, and expect their investments to bring in good returns in retail and food/beverage businesses.