Simon® Opens its First Premium Outlets® in Indonesia

Rhea-AI Summary

Simon (NYSE: SPG) has announced the opening of Jakarta Premium Outlets® in Indonesia, marking its first Premium Outlet® in the country and eighth globally. The center spans over 302,000 square feet of retail space and is nearly fully leased with more than 150 global and local brands.

Located in Tangerang, outside Jakarta, the outlet features premium brands including Bally, BOSS, Coach, Versace, and houses Southeast Asia's largest adidas outlet store. The center is strategically positioned at the intersection of two major highways, providing 30-minute access to Central Jakarta's 12 million residents and Soekarno-Hatta International Airport.

The development is operated through a joint venture between Genting Plantations Berhad and Simon, with operations managed by PT Nusantara Management Indonesia and PT Pembangunan Property Nusantara. The design incorporates Indonesian architectural elements with lush greenery and shaded walkways.

Positive

• Nearly fully leased retail space of 302,000 square feet with 150+ brands
• Strategic location serving 33 million metro population
• Expansion into eighth country market strengthens international presence
• Partnership with established local operators through joint venture

Negative

• None.

Jakarta Premium Outlets^® welcomes local shoppers and international visitors alike

INDIANAPOLIS, March 27, 2025 /PRNewswire/ -- Simon^® (NYSE: SPG), a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced the opening of Jakarta Premium Outlets^® in Indonesia. Featuring more than 302,000 square feet of retail space, this is Simon's first Premium Outlet^® in Indonesia and the eighth country to feature the Premium Outlet brand.

Located in Tangerang, just outside of the country's capital city of Jakarta, the center is nearly fully leased and features more than 150 global and local brands. Key premium and luxury brands include: Bally, BOSS, Coach, Furla, Lacoste, Longchamp, Marc Jacobs, Michael Kors, Kate Spade, Kenzo, Versace, Swarovski, Tumi and The North Face. The center also features key sporting brands, including the first adidas outlet store in Indonesia, their largest outlet store in Southeast Asia, and Nike. Other sports brands include: Converse, Hoka, Puma, New Balance, Reebok, Skechers and Under Armour. Shoppers can also enjoy a variety of international dining options.

"We are excited to officially open our newest Premium Outlet in the West Jakarta region, bringing Simon's world-renowned outlet shopping destinations to another exciting market with a metro population of over 33 million people," said Mark Silvestri, President of Development at Simon. "Consistent with our international growth strategy, our aim is to offer shoppers exceptional value for the most sought-after brands, while honoring Indonesia's vibrant character. In doing so, we have created a world-class shopping destination that combines global excellence with local authenticity."

Inspired by the Indonesian archipelago, the center features thoughtfully crafted architectural details, including lush greenery, water elements and shaded walkways to provide natural cooling and relaxation. Now fully open to shoppers, a formal grand opening ceremony will be held in the second quarter of 2025.

Jakarta Premium Outlets will serve the Greater Jakarta area. The center is developed in the heart of the Alam Sutera Township central business district, located in Tangerang City, with a population of over two million. In line with Simon's strategy of maximizing convenience for customers and reach for retailers, the center is located at the intersection of two major highways that provide direct access to key destinations in Jakarta: the Jakarta–Merak Toll Road connects eastbound, within a 30-minute drive time, to Central Jakarta with a population of 12 million residents. The Kunciran-Serpong Toll Road connects northbound within a 30-minute drive to Soekarno-Hatta International Airport that handles 55 million passengers annually, ranking as the third-busiest airport in Southeast Asia.

Jakarta Premium Outlets is a subsidiary of Simon Genting Pte. Ltd., a joint venture between Genting Plantations Berhad and Simon, with operations led by PT Nusantara Management Indonesia and PT Pembangunan Property Nusantara. The joint venture's presence in Southeast Asia also includes Johor Premium Outlets and Genting Highlands Premium Outlets in Malaysia.

Simon operates the most appealing and successful luxury outlet shopping experiences around the world, from Woodbury Common Premium Outlets in Hudson Valley, N.Y., Desert Hills Premium Outlets just outside of Palm Springs, Calif. to Yeoju Premium Outlets in Korea, Gotemba Premium Outlets^® in Tokyo, and Johor Premium Outlets^® in Malaysia.

About Simon Premium Outlets®
The global Simon Premium Outlets® portfolio offers exceptional brands at extraordinary savings through a diverse mix of luxury, designer and homeware retailers. Our Simon Premium Outlets in the United States, Puerto Rico, Canada, Japan, Malaysia, Mexico, South Korea, Thailand, and Indonesia are some of the most iconic and productive shopping destinations for residents and travelers including Woodbury Common Premium Outlets®, Orlando International Premium Outlets™, Desert Hills Premium Outlets®, Las Vegas North Premium Outlets™ and Wrentham Village Premium Outlets™. For more information visit PremiumOutlets.com and follow our social media accounts from there.

About Genting Plantations Berhad
Genting Plantations, a subsidiary of Genting Berhad, commenced operations in 1980. It has a landbank of about 64,500 hectares in Malaysia and some 178,900 hectares (including the Plasma scheme) in Indonesia. It owns seven oil mills in Malaysia and six in Indonesia, with a total milling capacity of 725 metric tonnes per hour. In addition, our Group has ventured into the manufacturing of downstream palm-based products. Genting Plantations has also diversified into property development to unlock the value of its strategically located landbank and has invested significantly in agriculture technology to provide total solutions and services to our Group's core agri-business in optimizing yield, improving operating efficiently, enabling traceability, and enhancing sustainability.

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SOURCE Simon

FAQ

How many brands are featured in Simon's new Jakarta Premium Outlets (SPG)?

Jakarta Premium Outlets features more than 150 global and local brands, including luxury retailers like Coach, Versace, and Michael Kors.

What is the size of Simon's new Jakarta Premium Outlets (SPG)?

The outlet center spans over 302,000 square feet of retail space.

Where is Jakarta Premium Outlets (SPG) located and what is its market reach?

Located in Tangerang, it serves the Greater Jakarta area with a metro population of 33 million, accessible within 30 minutes from Central Jakarta and Soekarno-Hatta International Airport.

Who are the joint venture partners for Simon's Jakarta Premium Outlets (SPG)?

The outlet is operated through a joint venture between Genting Plantations Berhad and Simon, managed by PT Nusantara Management Indonesia and PT Pembangunan Property Nusantara.