Horizon Outlet buys land from Sime Darby Property to build KLIO


Kuala Lumpur: 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 sq. ft. (about 37,161 sq. m.) 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. - Bernama
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