KUALA LUMPUR, April 26 – Horizon Outlet Shoppes Sdn Bhd has agreed to purchase 16.19 hectares of land from Malaysian conglomerate Sime Darby Property Bhd to build the Kuala Lumpur International Outlets (KLIO). Horizon Outlet Shoppes is a joint venture between US-based Horizon Group Properties and Mainstay Holdings Sdn Bhd, a local property and construction firm. KLIO, at a cost of over RM400 million, will offer shoppers 400,000 square feet (about 37,161 square metres) of luxury oriented retail outlets in an elegant setting, it said in a statement Friday. Horizon Group’s International Leasing Director Greg Clarke said he fully expects KLIO to be one of the most popular and groundbreaking among any outlet centres in the world.
“We believe that our combination of upscale design, convenient location and value-oriented luxury retail will be very popular with retailers and shoppers alike,” Clarke said. With no luxury-oriented retail outlets currently serving the seven million residents of Kuala Lumpur and Selangor or its nine million annual tourists, Horizon Outlet Shoppes is confident of filling this market niche, Clarke said. The joint venture will begin construction this year, with a grand opening expected on July 1, 2016. “With an esteemed local developer partner in Mainstay Holdings Sdn Bhd, our combined outlet and local property market expertise is a tremendous strength for our project,” Clarke added. In addition, KLIO’s role in anchoring a new 951-hectare township that will be developed by Sime Darby Property will be a true community asset ensuring year-round demand for its stores and amenities.