New department store in Komtar

By ANDREA FILMER

PENANG shoppers will have an additional choice this year-end as the new Pacific Departmental Store (Komtar) is set to open on the island by Christmas.

The new department store and supermarket will be an anchor tenant of Komtar, occupying 42,277 sq m for a tenancy period of 18 years.

"The store will have a lifestyle concept and cater to the needs of the mid to upper class market," said Pacific Hypermarket & Department Store Sdn Bhd executive director Charlie Tan during the signing tenancy ceremony recently.

He said a total of RM20mil would be invested within the first six months to develop and renovate the new outlet.

Pacific Hypermarket & Department Store Sdn Bhd executive director Charlie Tan (right) exchanging tenancy agreements with Rosli (left) while Lim (middle), Tang (second right) and Abdul Rahim (second left)looked on.

"We are very optimistic about the project and believe it can be one of the main shopping attractions on the island as it is located in the town area with an established traffic flow.

"If all goes well, we hope to garner RM80mil in revenue during our first year of operations," Tan said.

He added that the store, which would take up four floors previously occupied by the Yaohan Departmental Store, would be hiring a work force of 400 to manage day-to-day operations.

Chief Minister Lim Guan Eng, who was present to witness the tenancy agreement between the Komtar owner Penang Development Corporation (PDC) and Pacific Hypermarket & Department Store Sdn Bhd, a wholly-owned subsidiary company of The Store Corporation Berhad, said the deal was a first step in regaining Komtar's shine.

"The space Pacific is occupying has been vacant for about five years. Now, we see the light at the end of the tunnel in reinstalling Komtar as the heart of George Town and Penang," Lim said.

He added that the state was committed in reviving Komtar.

"After March 8, we have saved millions of ringgit by freezing plans to move Komtar's administration centre to a site in Bayan Mutiara.

"This government will not run away from problems and we will not run away from Komtar," Lim said.

Also present at the signing ceremony were PDC general manager Datuk Rosli Jaafar, state executive councillors and elected representatives.

Rosli said that PDC was looking at two more investors as potential anchor tenants to occupy another vacant lot in Komtar.