ICT mall in Komtar soon

KOMTAR’s occupancy rate will increase to about 95% with the entry of a second anchor tenant — Venice Gateway Sdn Bhd — in its shopping premises.

Venice Gateway signed an 18-year tenancy agreement with Komtar owner Penang Develop-ment Corporation (PDC) on Friday to take over the lot where Yaohan Departmental Store used to occupy.

Chief Minister and PDC chairman Lim Guan Eng said the tenancy would bring Kom- tar’s occupancy rate to about 95%.

“We are very excited about the long-awaited revival of Komtar.

“Almost all the office spaces in Komtar tower have been taken up and with Venice Gateway coming in, the occupancy rate will reach 95%,” Lim told reporters after a tenancy signing ceremony at the Komtar concourse.

PDC had signed another anchor tenant, Pacific Hyper-market & Department Store Sdn Bhd, that is currently occupying the lot of the former Super Komtar Departmental Store in early October 2008.

Lim said there were still a few “odd lots” in the complex, along with empty spaces like the pathway leading to the Komtar Geodesic Dome, adding that discussions were currently ongoing with prospective tenants.

Lim added that Venice Gateway had beaten four other investors for the tenancy and was renting the 9,332 sq m space for RM1.50 per sq ft monthly.

Venice Gateway executive director Denny Wong, one of the founders of Kuala Lumpur’s Low Yat Plaza, said the com-pany would be establishing an ICT mall in the four-storey area.

“We want to make Penang an Asean destination for electrical and electronic products, computers, handphones, cameras and other related goods.

“About 50% of the 250- odd shop lots we have already been verbally filled,” Wong said.

He added that the majority of the retailers would be north Asian-based small and medium enterprises that had been very successful overseas.

“The majority of the retailers will be from China along with Japan and Korea.

“We are targeting a 70% foreign and 30% local consumer market,” he said, adding that the new ICT@Komtar mall would be based on a different concept than Low Yat Plaza whose main customer base was domestic shoppers.

Wong said a total of RM10mil — RM5mil for renovation that will begin immediately, and RM5mil for start-up costs — would be invested into ICT@Komtar that is scheduled to open its door on Sept 1 this year.

At the signing ceremony on Friday, Wong signed on behalf of Venice Gateway while Info Melia Sdn Bhd (a fully owned company of PDC’s subsidiary PDC Premier Holdings Sdn Bhd) was represented by director Datuk Abdul Rahim Isahak.