KUMPULAN Emas Bhd's latest shopping complex in Sri Kembangan, the South City Plaza, is set to open in November with 70% occupancy rate.
With the improved (retail) market scenario, we are confident that the complex will perform well and become a new landmark in the southern corridor, chief executive officer Kee Lian Yong said.
He was speaking after the signing of tenancy agreements between Pujian Development Sdn Bhd and four anchor tenants yesterday.
Pujian, a fully owned subsidiary of Kumpulan Emas, is the developer of the shopping complex.
The three-in-one complex with total gross area of 1.2 million sq ft is the largest retail centre in the southern part of Kuala Lumpur.
It offers 850,000 sq ft of lettable retail space 20% of which has been taken up for more than 200 shops.
Kee said he was confident that South City Plaza would be the happening place and a comprehensive one-stop destination to meet the people's needs.
South City Plaza, the largest shopping mall in Sri Kembangan which is the fastest growing area in the southern corridor, is targeted at the more than half a million residents staying within a 10km radius.
It will have a wide range of facilities including colleges specialising in information technology, a one-stop automotive centre, the largest electrical appliances mega store and the biggest supermarket in this part of the city, he added.
The RM300mil project, which was delayed for four years due to the regional economic slowdown, would be completed in August.
It would also feature an 11-storey office tower, a 174-room business hotel and a block of 200 service apartments.
The hotel is set for launch next year while the office tower was now on the drawing board.
Kee said the delay was a blessing in disguise as it enabled Kumpulan Emas to put in place an innovative concept for an urban centre.
He said South City Plaza, with its high visibility from the Kuala Lumpur-Seremban Highway and the Sungei Besi Highway, was strategically located in a high traffic area, making it an attractive base for retailers.
He added that a leading departmental store was negotiating to take up about 100,000 sq ft in the complex.
Malaysian Automotive Centre, one of the four anchor tenants at the shopping complex, would occupy 300,000 sq ft.
The space would be used as automotive showrooms, a 24-hour trade centre, automotive science centre, in-car audio-visual system centre, a convention and exhibition hall, an outdoor activity centre as well as an education and training block.
Its chairman Datuk Pahamin Ab Rajab said the centre, the first of its kind in the world, was now negotiating to sublet some 80% of its space.
Customers will be able to enjoy an integrated showcase and retail centre for automotive parts, accessories, auto-care and safety products.
They will also have the convenience of motoring services such as road tax and driving licence renewal as well as financial and insurance services, he said.
Dairy Farm Giant Properties Sdn Bhd would open its 23rd Giant outlet at the complex. It would occupy 70,000 sq ft.
Its director Mohd Ismail Ahmad said the group would invest not less than RM200mil to open five new outlets this year.
The outlets would be located in the Klang Valley, Sungei Petani (Kedah) and Bayan Baru (Penang) this year.
Senheng Electric (KL) Sdn Bhd managing director Lim Kim Heng said the company was bullish on the retail market.
He said Senheng would be opening its flagship mega store, complete with a revolutionary layout and concept, at South City Plaza.
SEG International Bhd chief executive officer Clement Hii said the education group would take up 36,000 sq ft to open its Systematic College branch.
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