LABUAN: Labuan island will have its latest landmark of a Duty-Free Premium Outlet (PO), the first of its kind in Malaysia, by 2020.
It is expected to be the next hot spot for shoppers, after POs like Genting Highlands and Johor.
The project developer BVA Development Sdn Bhd director Chung Wei Keong said the construction of the two-storey project will take between 14 and 18 months to be completed.
"It is expected to commence this month, but we are looking at the fengshui or auspicious date to begin work.
"When it is completed, it will become the first duty-free PO in the country, "he said when contacted.
The announcement of the outlet was made by Labuan Member of Parliament Datuk Rozman Isli during a visit by Prime Minister Datuk Seri Najib Razak in January.
Najib's working visit then included the launching of Labuan Development Blueprint 2030.
During his previous visit in 2016, he had also said Labuan status as duty-free island will remain despite the government losing revenue due to uncollected taxes resulted from smuggling activities.
Chung added the building with estimated cost of RM20 million will offer cheaper and more varieties of duty-free items.
“As Labuan is an island, the building concept will emphasise on giving visitors the experience of shopping in a forest.
"The outlet will also be located on a 2.4hectares land next to Labuan Golf Club," he added.