KUALA LUMPUR: Property developer Kepong Industrial Park Group of Companies (KIP Group) has inked two memorandums of understanding (MoU) with QSR Brands (M) Holdings Bhd to provide the convenience of KFC drive-thru restaurant service at KIP Group’s retail outlets that would potentially boost occupancy rates, and earnings in the future.
QSR Brands will set up a KFC drive-thru restaurants at KIP Mall Desa Coalfields in Sungai Buloh, a one-stop shopping mall owned by KIP Group, and the second one in KIP Mart Lavender in Senawang, a retail centre owned by KIP Real Estate Investment Trust
(KIP Reit).
The 4,088 sq ft KFC drive-thru restaurant at Desa Coalfields is an extension to the 213,000 sq ft KIP Mall Desa Coalfields.
This will increase its occupancy rate and boost its footfall to approximately 1,500 visitors per day once it opens its doors to the public in the fourth quarter of 2019.
KIP Mart Lavender in Senawang is a single-storey retail centre, which started operations since December 2012. It is expected to increase its occupancy rate by 4% to about 85% with the extension of the new 4,800 sq ft KFC drive-thru restaurant.
Speaking at the signing ceremony, KIP Group’s CEO Valerie Ong said, “The addition of KFC restaurants to the present tenant mix will increase our array of food and beverage outlets that will inevitably take both QSR Brands as well as KIP Group to the next level.
“This will increase the soon to be opened KIP Mall Desa Coalfields’ and KIP Reit’s average occupancy rates and boost visitor traffic flow.”
Meanwhile, QSR Brands managing director Datuk Seri Mohamed Azahari Mohamed Kamil said KFC strives to work in partnerships with businesses from various industries, as part of its continuous efforts to improve its service accessibility and offerings.
“We intend to continue collaborating with KIP Group in keeping the dynamic momentum of our restaurants’ growth across KIP Group’s retail centres.
“We realise that the only way to grow is to go forward and embark on a new business model with like-minded partners.
“We believe that we will be able to provide added values to the lives of the surrounding communities with the convenience of KFC drive-thru service, and at the same time be the growth catalyst to the retail centre with the presence of our iconic brand,” he said.
Just last month, KIP Reit and QSR Brands formed its first strategic collaboration via a tenancy agreement to establish a KFC restaurant with a built-up area of 2,717 sq ft at KIP Mart Kota Tinggi, Johor.
This first of its kind collaboration between KIP Group and QSR Brands is projected to see a 4% rise in the centre’s occupancy rate, to 95%.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
