Tuan Sing Holdings Limited and Mitsubishi Estate Co., Ltd. (“MEC”) have teamed up to develop an international luxury outlet mall in Karawang – a fast-growing economic hub connecting Indonesia’s capital city Jakarta and third-largest city Bandung. Called The Grand Outlet – East Jakarta, the initial phase of the outlet mall will be developed on a nine-hectare site at a total cost of approximately S$90 million. Construction is scheduled to commence in 2Q 2022 with a target opening date in 4Q 2023. Upon completion, The Grand Outlet – East Jakarta will have a leasable area of approximately 26,000 sqm, featuring approximately 180 shops with a wide variety of retail offerings and dining establishments. There will also be ample car park space. The development of The Grand Outlet – East Jakarta will be undertaken by a 50:50 joint venture company PT Karawang Outlet Mall, which will also operate the outlet mall. The Grand Outlet – East Jakarta is envisioned to be a world class shopping destination, where visitors can revel in retail therapy set in green urban spaces. The outlet mall aims to offer international luxury brands that sell high-end apparels, bags and luggage, accessories and more.