To satisfy Malaysians fondness for shopping, an upscale outlet mall known Horizon Village Outlets (HVO) will open by mid-2018 within Serenia City, a 2,370-acre township by Sime Darby in Sepang.
Costing RM400 million, the commercial development is being jointly undertaken by local firm Mainstay Properties Sdn Bhd and US-based Horizon Group Properties, with the former owning 70 percent of the property, while the latter holds the rest.
“When HVO is completed, it will cover 23 acres and have 150 one-storey retail lots. The total net lettable area available will be 400,000 sq ft and there will be 2,000 covered parking bays,” said David Nelson, HGP’s Managing Director of international business.
“What will be unique about the outlet mall is that it will be built on a platform. We are building on a deck with parking underneath and there are six escalators and lifts to the shopping area.”
Featuring a European theme, the mall is designed like a racetrack so that the shops will be within the clients’ view when they walk through it. Its retail offerings will consist of sports and lifestyle, high-end goods, food & beverages (F&B) as well as affordable premium items.
“We will concentrate on a few different merchandise categories. We are going to do luxury and affordable luxury and I think we will be known in the market for the better quality of our merchandise mix. But it won’t be pure luxury. That’s not the right thing to do, especially in a shopping centre that’s as large as HVO.”
“People who shop at Gucci and Salvatore Ferragamo also buy Nike shoes. They buy Adidas and they eat; they buy baby strollers and clothes. So we will have sportswear and a large F&B component,” Nelson explained, adding the latter will make up about 20 percent to 25 percent of the space at HVO on a sq ft basis.
So far, the list of brands that will set-up shop at HVO include Flow, Tumi, Pedro, Godiva, Victoria’s Secret beauty and accessories, Michael Hors, Tory Burch, La Martina, Bath & Body Works, Swiss Watch Gallery, Charles & Keith, Kate Space New York and Giuseppe Zanotti Design.
HVO plans to draw in a total of 6 to 10 million customers during the first year of business, as well as generate 2,000 jobs both in the mall and during its building stage.
Founded in 1998, Michigan-based HGP is the third biggest developer and operator of outlet shopping centres in the United States. As of last year, it had 11 outlet malls with more than .5 million sq ft of retail space combined.
Meanwhile, Mainstay Holdings Sdn Bhd’s unit Mainstay Properties was incorporated in 2005, and is involved in construction, property development and real estate investment.
Image sourced from Cyberjaya City
Diane Foo Eu Lynn, Senior Content Specialist at PropertyGuru, edited this story. To contact her about this or other stories email diane@propertyguru.com.my
