Central i-City to have full occupancy when it opens in October 2018

CPN Ventures Sdn Bhd chief operating officer Anthony Dylan with a model of Central i-City Mall where more than 3,000 residences, including the newest Hill10 Residence, will be linked to the first floor of the lifestyle retail haven.

SHAH ALAM: The operators of the Central i-City shopping centre are confident the mall will have an occupancy rate of 100% by the time it opens its doors in October 2018.

The RM850mil mall is a joint venture (JV) between Thailand-based Central Pattana Public Co Ltd, which has a 60% stake in the project, and I-Bhd.

CPN Ventures Sdn Bhd, a JV company between Central Pattana and I-Bhd, are targeting both local and Thailand-based tenants, its chief operating officer Anthony Dylan said.

“We’re targeting an occupancy rate of 100% because that is the standard in Thailand as well,” he said at a briefing on the Central i-City shopping centre yesterday.

Anthony said an announcement on the mall’s prospective tenants will be made by December.

“The mall will comprise predominantly Malaysian tenants. The JV will see the shopping centre combining both Malaysian and Thai strengths.

“When the mall is opened next year, it will feature Thai hospitality and Malaysian friendliness,” he said, adding that construction of the shopping centre was progressing as scheduled.

“The Malaysian retail sector got off to a sluggish first quarter, shrinking 1.2% in the first three months. Yet, despite a shaky start, the local retail sector is poised for positive growth this year, driven by steady yet cautious consumer spending, in-store promotional campaigns.”