JPO second phase to start ops in Q4 next year
THE second phase of the Johor Premium Outlets (JPO), offering an additional 40 designer and high-end stores, will begin operations in the fourth quarter of 2013.
According to Genting Simon Sdn Bhd, the operator of JPO, the launch of the second phase is well ahead of schedule.
The JPO was officially launched on December 11 last year.
Genting Simon director Alex Phang said the company had initially planned to launch the second phase in the third or fifth year of JPO's operations.
However, JPO - the first Premium Outlet mall in Southeast Asia - has met the operator's target of four million visitors in the first year of operations.
"Due to this, we are going to launch the second phase after only one year of operations," Phang told a news conference here yesterday.
Also present was the company's general manager Jean Marie Pin Harry.
JPO currently houses brands such as Armani, Brooks Brothers, Burberry, Canali, Coach, Esprit, Ermenegildo Zegna, Gap, Guess, Michael Kors, Nike, Oroton and Ralph Lauren.
However, Phang declined to disclose the brands that will be coming into the new phase, covering 9,290 sq metres, which is to be built at a cost of RM50 million.
We are currently sourcing for high-end quality food operators," he said.
Phang said JPO's current gross development value (GDV) stood at RM50 million and the projected GDV for the second phase is RM157 million, which will bring the total GDV to RM207 million.
"With more than 100 brands to choose from, we are confident the number of visitors will increase. The success of JPO shows that world-class projects can thrive in Iskandar Malaysia," he said, adding that works on the second phase will begin next month.
JPO development involves a total of three phases over a 10-year period. Genting Simon is a 50:50 joint venture between Genting Plantations Bhd and Simon Property Group.
JPO, the 70th of such outlet in the world, sprawling over 16,258 sq metres, currently has more than 70 designer and high-end stores.
There are 69 other Premium Outlets, of which 57 are in the US, one in Puerto Rico, eight in Japan, two in South Korea and one in Mexico.
Source : New Straits Times
Date : 12 December 2012
Afternoon Highlight (13/12/12/211/686)
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