Genting Plantations Bhd is looking at developing phase two of Johor Premium Outlet (JPO), following the launch of its first phase in December 2011.
The company is also planning several hotels and a theme park to further increase the land value at the Kulai Besar Estate or the Indahpura development, said OSK Research.
"The last offer price the company received for land in the area was RM50 psf, while the last transacted price was RM25 psf," noted research firm.
"The last offer price the company received for land in the area was RM50 psf, while the last transacted price was RM25 psf," noted research firm.
Sited on 45 acres of land, Johor Premium Outlets features 80 outlet stores selling designer and branded items and is owned by Genting Simon Sdn Bhd, a fully-owned unit of Simon Genting Ltd.
Moreover, Simon Genting Ltd is a 50:50 joint venture (JV) between Premium Outlets - a division of Simon Property Group - and Azzon Ltd, a fully-owned unit of Genting Plantations.
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