yuta inoue - session 1: commercial development and airport real-estate

MITSUI OUTLETPARK KLIAMFMA Development SDN BHD.

Mitsui Fudosan Co.,Ltd.

MFMA will be tasked to promote this project and the investment will be 70% owned by Mitsui and another 30% by Malaysia Airports. MFMA will lease the land owned by Malaysia Airports, is responsible to construct the buildings, and lease it out to tenants.

The Phase 1 of the project will include a shop area of approximately 25,000 sq. metres and would house approximately 140 shops. The construction of Phase 1 is scheduled to commence by the end of 2013 and the Outlet

Park will open in early 2015. For the Final Master Plan, which will be with the development of Phase 2 and 3 increase to 46,300 sq. metres of shop area housing approximately 260 shops.

Nihonbashi Mitsui Tower lazona kawasaki PlazaShibaura Island Tokyo MidtownLalaport　Yokohama

01

Joint Venture between MAHB and MF. JV Company is MFMA. 01

MITSUI OUTLETPARK KLIA

Nihonbashi Mitsui Tower

Lalaport　Tokyo-Bay Tokyo MidtownLalaport　Yokohama

Park City Hamadayama（Condominium） 20 old Bailey (London)

Park Axis Aoyama 1-chomeTower（Rental Apartment）

Mitsui Garden HotelGinza-Premium

Halekulani Hotel （Honolulu） Mitsui-no-Mori Karuizawa Country Club Haimurubushi（Resort Hotel）

Nihonbashi Mitsui Tower

Lalaport　Tokyo-Bay Tokyo MidtownLalaport　Yokohama

Park City Hamadayama（Condominium） 20 old Bailey (London)

Park Axis Aoyama 1-chomeTower（Rental Apartment）

Mitsui Garden HotelGinza-Premium

Halekulani Hotel （Honolulu） Mitsui-no-Mori Karuizawa Country Club Haimurubushi（Resort Hotel）

Tokyo MidtownTokyo Midtown

[1] Mitsui Fudosan Co., Ltd.

Mitsui Fudosan Corporate Profile

Mitsui Fudosan operates a wide range of businesses, the core of which being housing, office buildings, hotels,

sport and leisure facilities, resort facilities and shopping malls.

Making the most of our know-how acquired through our experience in the commercial facilities industry,

last year we entered the distribution facilities industry, which shares many common aspects with the former.

With its full-fledged capabilities from planning and development to sales, management and operation and other services,

Mitsui Fudosan will provide solutions tailored to customer needs and create new values.

Mitsui Fudosan Co.,Ltd

AmenityDevelopment/Operation of

Commercial Facilities

Accommodations BusinessDivision

Retail Properties Division

Office Building Division

Mitsui Fudosan Residential Co., Ltd.

Real Estate Solution Services Division

Accommo-dation

Office

HousingSolution& Service

Rental HousingsHotels

Development and Management/Operation

of Office Buildings

Condominiums and Single-Family Houses

Real Estate Consulting

Market Capitalization

Annual Revenue from Operation

Number of Employees

1,743 billion ( As of March 31, 2011)

Consolidated: 13,381 billion ( Year Ended March 31, 2011)

Consolidated : 16,666 ( As of March 31, 2011)

02

02

As our tastes diversify, these days we are starting to want “to focus on people.”What we are about is not just selling things, but wanting to provide a place where you can spend an enriching time. We aim for a community that provides enrichment and comfort to the town, blending into peoples’ lifestyles by growing together with the residents and the town, while valuing the links to the “heart.”

“Focusing on people.” Creating places of rest where residents gather,gentle to both people and the environment.

Growing Together

REGIONAL SC

Fashion, food, entertainment, and much more can be found here,and by providing a place for the commu-nity to grow, we aim tobecome the nuclei of each region.

OUTLET PARK

These facilities allow you to enjoy reasonably priced shopping for brand-name items in the midst of bright and open streetscapes.Through events and other occasions that draw on the local culture,we create lively spaces where people assemble.

LIFE STYLE PARK

While responding to local needs, we are constantly　suggesting new lifestyles, aiming to become “places to meet　and relax” that are easily accessible and attrac-tive.

REDEVELOPMENT PROJECT　

Commercial facilities development project that aims to contribute to regional revitalization mainly in local cities, including the construction or renovation of a terminal station in a district where economic activities have become increasingly sluggish.

URBAN FACILITY

We develop very unique and attractive tenants in line with each of　our concepts, including one-of-a-kind stores and new business format shops for existing brands. We provide warmth and livelinessto your urban life.

MITSUI OUTLET PARK IRUMA

LAZONA Kawasaki plaza

Lalaport YOKOHAMA Lalaport TOKYO-BAY

Lalaport kashiwanoha

Koujun BuildingCOREDO NIHONBASHIAkasaka Biz Tower SHOPS & DINING

ARCAKITKINSHICHO

LaLaTerrace MINAMISENJULaLagarden TSUKUBA

MITSUI OUTLET PARK IRUMA

LAZONA Kawasaki plaza

Lalaport YOKOHAMA Lalaport TOKYO-BAY

Lalaport kashiwanoha

Koujun BuildingCOREDO NIHONBASHIAkasaka Biz Tower SHOPS & DINING

ARCAKITKINSHICHO

LaLaTerrace MINAMISENJULaLagarden TSUKUBA

COREDO MUROMACHICOREDO MUROMACHI

We have made successful achievements and acquired know-how with a variety of commercial facilities, ranging from extensive market area types to urban types.


Commercial Facilities

MITSUI OUTLET PARK JAZZ DREAM NAGASHIMAMITSUI OUTLET PARK JAZZ DREAM NAGASHIMA


03

03

Mitsui Outlet Park has the No. 1 market share in Japan

We aim at further achievement in Asia in the future with our record of success and experience in Japan.

Development of the outlet mall business



Mitsui Outlet Park’s Record of Success

We have the No. 1 market share and record of success in the outlet business in Japan.

No. 1No. 2No. 3

Mitsui FudosanChelsea JapanSEIBU PROPERTIES

1,641 stores1,239 stores

308 stores

Number of tenantsNo.1(As of August 2012)

No. 1 Mitsui Fudosan 262.6 billion yen

SalesNo.1(Estimate for 2012)

No.1No. 1No. 2No. 3

Mitsui FudosanChelsea JapanSEIBU PROPERTIES

12 facilities8 facilities2 facilities

Number of facilitiesNo.1 (As of August 2012)

(1) Maintaining tenant relationships with approx. 2,100 companies

(2) Significant influence on tenant leasing

(3) Development of 12 facilities throughout Japan

Mitsui Fudosan Co. Ltd. has substantial market share in the outlet business in Japan, including the No. 1 share in

terms of the number of facilities, number of tenants, and sales. Our business viability is high, offering stability and

confidence. “MOP KISARAZU” started operations in 2012, following “MOP SAPPORO KITAHIROSHIMA and

“MOP RYUO” in 2010 and “MOP KURASHIKI” and “MOP JAZZ DREAM NAGASHIMA (Phase 4)” in 2011.

●

●

●

●

●

●

●

●

●

●

●

●

ＭＯＰ Osaka Tsurumi

ＭＯＰ Yokohama Bayside

ＭＯＰ Marine Pia Kobe

ＭＯＰ Tama Minami Osawa

ＭＯＰ Makuhari

ＭＯＰ Jazz Dream Nagashima

ＭＯＰ Iruma

ＭＯＰ Sendai Port

ＭＯＰ Sapporo Kita-Hiroshima

ＭＯＰ Shiga Ryuo

ＭＯＰ Kurashiki

ＭＯＰ Kisarazu

62 tenants

87 tenants

133 tenants

114 tenants

95 tenants

240 tenants

206 tenants

120 tenants

128 tenants

165 tenants

120 tenants

171 tenants

Mitsui Fudosan Outlet MallNumber of tenant stores

04

04

Shanjing Outlet Plaza·Ningbo

ＭＯＰ Marine Pia Kobe

ＭＯＰ Iruma

ＭＯＰ Yokohama Bayside

ＭＯＰ Jazz Dream Nagashima

ＭＯＰ Osaka Tsurumi

ＭＯＰ Kurashiki

ＭＯＰ Tama Minami Osawa

ＭＯＰ Sendai Port

ＭＯＰ Makuhari

ＭＯＰ Sapporo Kita-Hiroshima

ＭＯＰ Shiga Ryuo

ＭＯＰ Kisarazu

Japan

China

Source：IMF

79,500,00062,325,00055,664,00056,694,00046,119,00029,343,00029,192,00028,352,00024,577,00023,403,000

123456789

10

※UNWTO : World Tourism Organization「UNWTO Tourism Highlights, 2012 Edition」

［FY2012］

10，578US$

［FY2017］

14，723US$

050100

0％ 10％ 20％ 30％ 40％ 50％ 60％ 70％ 80％ 90％ 100％

150 50 100 150

1

2

3

4

5

6

7

8

9

10

104247081

792421251

UP39.1％

The population will grow 1.5 times the current level by 2050.Per capita GDP occupies a predominant rank in Southeast Asia.

Expanding well-to-do and upper middle classes in Malaysia

The number of tourists was approxi-mately 25 million people for the year, ranked 9th in the world.

Outlet-targeted working age population is very high.

Ranked 4th in ranking of the world’s premier shopping cities

It is predicted that the current population of 28 million will grow to 43 million in 2050. Per capita nominal GDP is overwhelmingly high among East Asian countries and growth potential is also significant.

[Population in Malaysia]

Current populationPredicted population in 2020[compared with current]

Predicted population in 2050[compared with current]

28.4 million

33 million (1.18 times)

43 million (1.54 times)

[Per capita nominal GDP]

[Per capita nominal GDP trends (US$)]

Source：IMF

Currently, approximately 60% (17 million people) of the population is considered well-to-do or upper middle class in Malaysia. It is predicted that nearly 90% (approx. 30 million) of the population will be well-to-do or upper middle class in 2020.

Bottom tierLower middleUpper middleWell-to-do tier

Source: JETRO

*Well-to-do tier: Family income 35,000 US$ or more per year/Middle class: Family income 5,000 US$ or more and less than 35,000 US$ per year/Bottom tier: Family income less than 5,000 US$ per yearAmong the middle class: Upper middle; 15,000 US$ or more and less than 35,000 US$ per year/ Lower middle: 5,000 US$ or more and less than 15,000 US$ per year

Young people constitute a very large proportion of the popula-tion (38.6% of the population is less than 20 yrs. old). The population growth rate of 1.7% is also the highest in East Asia.

■ Population of less than 20 yrs. old: 38.6%■ Population of 65 yrs. old or more: 4.9%■ Growth rate of population: 1.7%

Source: JETRO

Ranking of international tourist arrivals by country in 2011

FranceUnited StatesChinaSpainItalyTurkeyUnited KingdomGermanyMalaysiaMexico

The CNN News Group surveyed and summarized the world’s premier shopping cities. New York ranked 1st, Tokyo 2nd, and London 3rd. Although these rankings were conducted normally, Kuala Lumpur in Malaysia ranked 4th, higher than Paris in 5th place.In order to determine rankings, CNN conducted surveys and evaluations regarding four items: “Convenience of public transportation such as taxis,” “value (sales periods and reasonable prices),” “assortment of merchandise (number of brands and shops),” and shopping experience (cleanliness, service and food standards)” for a maximum of 40 points (10 points each).The Malaysian government issued a statement on the extraordi-nary “feat” and congratulated themselves as follows: “Our efforts to attract foreign tourists with longer sales periods bore fruit.”Hot and humid Kuala Lumpur features giant shopping malls. Of the 10 largest malls in the world, three are in Kuala Lumpur.As for the Japanese department store, ISETAN is in a fortress. In attracting tourists, Kuala Lumpur is popular with the well-to-do in the Middle East since Islamic food (halal) is available.

New YorkTokyoLondonKuala LumpurParisHong KongBuenos AiresViennaDubaiMadrid

*Source: Article dated December 7, 2012 in Nikkei MJ”

[FY2010]

[2020 prediction]

10 Years Later

FemaleMale

100 yrs. old or more95 - 99 yrs. old90 – 94 yrs. old85 – 89 yrs. old80 – 84 yrs. old75 – 79 yrs. old70 – 74 yrs. old65 – 69 yrs. old60 – 64 yrs. old55 – 59 yrs. old50 – 54 yrs. old45 – 49 yrs. old40 – 44 yrs. old35 – 39 yrs. old30 – 34 yrs. old25 – 29 yrs. old20 – 24 yrs. old15 – 19 yrs. old10 – 14 yrs. old

5 – 9 yrs. old0 – 4 yrs. old

[Unit: 10 thousand people]

Ranked 9th

Ranked 4th

0

2000

4000

6000

8000

10000

12000

14000

16000

1999

20002001

20022003

20042005

20062007

20082009

20102011

20122013

20142015

20162017

Malaysia

Malaysia has an overwhelmingly excellent market in Southeast Asia, with bright prospects for the future.Kuala Lumpur is one of the premier shopping cities in the world. Many people visit the City from around the world including other regions in Asia.

Bangladesh

China

India

Indonesia

Myanmar

Philippines

Thailand

Vietnam

05

[2] Malaysian Market

Appeal of Malaysian Market MITSUI OUTLETPARK KLIA05

[3] Introduction of This Property

Location MITSUI OUTLETPARK KLIA06

SITE

Middle East

China

■ Located in the center of Southeast Asia, the site will allow us to attract custom-ers from around the world including China and the Middle East. There were approximately 25 million overseas travelers annually (in 2011).

■ We can create a site where all inventory items in the ASEAN region can be combined.

■ This planned site is located approximately 60 km from central Kuala Lumpur. This site is ideally suited for outlet facilities. The nation’s largest city of Kuala Lumpur can attract and capture the market.

■ Bounded by main arteries on two sides, the site also offers excellent visibility.■ With ready access such as expressways and railways, the site offers advantages

in attracting customers over a wide area.■ With the opening of a second airport (planned for May 2014), the current

approximately 38 million customers per year are expected to increase to approximately 45 million.

Southeast Asian region

Kuala Lumpur International Airport

Area Map

RailwayHighway

Area in Kuala Lumpur City

Central Kuala Lumpur City

Highway Railway

In Kuala Lumpur, a center of Southeast Asia, we plan to develop the largest outlet mall in Southeast Asia.The planned site offers an easily accessible location where goods and people can be brought together not only from the ASEAN region but also from China and the Middle East.

06

Highway

Main Line

Railway

KL IAKLIA2

■Location near airport terminal (Planned Shuttle bus service)

■Near interchange and adjacent to each trunk line.

SITE

S ITE

Approx. 60 min. by car from central Kuala Lumpur City


Location 07MITSUI OUTLETPARK KLIA

2015(1Q)

2018

2021

P h a s e 1

P h a s e 2

P h a s e 3

Open

115,000㎡

27,500㎡

36,400㎡

178,900㎡

Site（㎡）

39,720㎡

16,530㎡

16,530㎡

72,780㎡

GFA（㎡）

21,830㎡

9,900㎡

9,900㎡

41,630㎡

Outlet/Food

3,300㎡

0㎡

0㎡

3,300㎡

Entertainment

25,130㎡

9,900㎡

9,900㎡

44,930㎡

total

140

60

60

260

tenant

NLA（㎡）

2,500

500

200

3,200

PK（cars）

PLAN

※This is the plan in the present phase and is subject to change in the future.

MITSUI OUTLETPARKKLIA

KLIA KLIA2

MITSUI OUTLETPARKKLIA

07

Bus Stop(For route bus, coach bus and shuttle bus from KLIA & KLIA 2 terminal)

C

B

A

Check-in counter & Lounge & Flight Information Board(For Passengers who use the Airport) Station of Transportation System produced by Airport company (MAHB).(Connecting to other projects in this KLIA site.)

Special measures to invite people to this mall. (Tentative)

C

A

B

Phase 3Phase 2

Phase 1

KLIA & KLIA 2Terminal

KL CBD

Before Opening Phase 2 & 3this site is used for Parking.

Phase 1

Phase 2

Phase 3

Open

2015(1Q)

2018

2021

Site (m²) GFA (m²) Outlet/Food (m²) Entertainment (m²) Total (m²) Tenant

140

60

60

260

PK (Cars)

21,830

9,900

9,900

41,630

3,300

0

0

3,300

2,500

500

200

3,200

25,130

9,900

9,900

44,930

39,720

16,530

16,530

72,780

115,000

27,500

36,400

178,900

※This is the plan in the present phase and is subject to change in the future. ※This is the plan in the present phase and is subject to change in the future. 08


Overview of Planned Site 08MITSUI OUTLETPARK KLIA

Redevelopment of vast tracts of land with a development area of 6,750 acres.Development is scheduled to take place starting with this outlet mall, followed by a golf course, a hotel, a distribution center, an entertainment park, and a second airport. A new city centered around the airport will come into being.

MITSUI OUTLETPARK KLIAOverview of Area Development of Kuala Lumpur International Airport (KLIA)［［

ThemePark & Agro-TourismCommercial Business District

09

■

■■■■■■■

■■■■■

■ Only for KLIA LCC(Open : May 2013)

Retail/Commercial Centre-factory OutletsOffice parksExposition/Convention centreHotelsService apartmentsFood&Beverage buildingMedical centreTraining centre complex etc.

Theme ParkAgro retailFood villageFruit orchardHome stayetc.

■

■

■

■

Logistics/ WarehousingcentreHi-Tech,Hi-Value,Time Sensitive industrial plotsCommercial business premisesMRO Activitiesetc.

Green Tourism Zone &Natural Conservation Zone

■ Only for KLIA LCC(Open : May 2013)

KLIA LCCTerminal

Recreational & Institutional ZONE

SITE

Free Commercial Zone■

■

■

■

Logistics/WarehousingcentreHi-Tech,Hi-Value, Time Sensitive industrial plotsCommercial business premisesMRO Activitiesetc.

■■■■■

Golf ResortsBoutique HotelsOutdoor training CampAviation Training CenterMalaysia Airports TrainingAcademyetc.

Highway

Main line

Kuala Lumpur International Airport


※Photo is image.

09

1010


Overview of Planned Site MITSUI OUTLETPARK KLIA10

11MITSUI OUTLETPARK KLIA


Perspective Drawing (1)

※This is the plan in the present phase and is subject to change in the future. ※This is the plan in the present phase and is subject to change in the future.

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1212







1313


MITSUI OUTLETPARK KLIA14



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yuta inoue - session 1: commercial development and airport real-estate

Travel

commercial facilities

leisure facilities

resort facilities

life style park

development of phase

new business format

local needs

metres of shop area