Thursday, 4 May 2017

(NST) Johor Baru to get more mega malls

SHOPPERS and the business community in Johor are looking forward to the opening of new shopping malls this year.

Among them is the Paradigm Mall Johor Baru, which will be the largest regional mall in Johor with about 500 shop lots. It is set to open its doors in November.

WCT Holdings Bhd, the owner and developer of Paradigm Mall, said the take-up rate for the 1.3 million sq ft of net lettable space had reached over 75 per cent.

Group managing director Datuk Lee Tuck Fook said with a gross development value of about RM1 billion and built-up area of two million sq ft, Paradigm Mall Johor Baru would have Parkson, a leading Asia-based department store operator, as its main tenant.

Ikea Johor Baru, which is slated to open in the Tebrau area by year-end, is also creating similar buzz.

It is the company’s third store in Malaysia and developed with an investment of RM592 million.

Ikea Southeast Asia managing director Christian Rojkjaer said last year the company chose Johor Baru because of its rapid development.

He said the company’s investment would create thousands of spin-off opportunities for local services and supply businesses.

The new Johor Ikea store will have a total space of 46,713 sq m and serve more than 1.8 million people who live in the area.

The upcoming Capital 21 Festival Mall, which is developed by Capital City Property Sdn Bhd, is part of an overall mixed development project in Jalan Tampoi.

Located on a 4.05ha site, the six-storey shopping mall that will feature interior designs inspired by the different capital cities of the world.

There will also be a 315-room, luxury hotel managed by a company under Hilton Worldwide, a 32-storey tower with 630 serviced suites, three 29-storey towers of serviced apartments, multi-storey car parks and a cultural and entertainment hub.

Another big project is the Mid Valley mall in Southkey being developed by a joint venture of IGB Corp Bhd and Southkey City Sdn Bhd.

In October last year, IGB Corp announced in a filing to the stock exchange that it was raising up to RM1 billion to fund the construction of the new mall.

It will form part of a larger RM6 billion integrated mixed use development comprising three hotels, four office towers and one serviced apartment tower.

Once completed, the Mid Valley Megamall will have an estimated net lettable area of 140,000 sq m with 400 retailers, including its anchor tenants, and 6,000 parking lots.

Chinese developer Country Garden Holdings Co Ltd, which is involved in two flagship developments in Johor, is also developing shopping enclaves in both its Country Garden Danga Bay and Forest City projects.

The Country Garden Shopping Mall in Danga Bay, incorporating modern architecture, will complement five blocks of five-star serviced apartments and 12 blocks of condominiums with an oasis garden on the waterfront that faces the Johor Straits.

The Harbour Commercial Streets in Forest City recently saw the addition of Secoo, the Chinese online shopping platform specialising in high-end brands.

It opened its first brick-and-mortar flagship store in the region at Island One.

The 7,500 sq m store, located at the shopping waterfront esplanade, houses 19 retailers.