Japanese retail development
begins to show signs of life

Royal Ahold to quit Southeast Asia

Asia-Pacific’s largest mall set
to open in KL this October

First Courts store opens in Phuket

100 Lotus Supercenters in
China by 2006: CP Group

Revamps, renovations,
repositioning — S’pore malls go
all out to lure shoppers

HK’s CRE to slow expansion
plans in China

Schroder buys first retail
property in HK

Ikea’s largest Asian store
opens in Shanghai

Taipei 101 Mall set to open later
this year

Malls in S’pore fight back SARS
scare

OG to leave Great World City in
S’pore when its lease expires

More outlets outside Bangkok:
SF Cinema

Thailand’s Seacon Square earmarks Bt107 million for upgrades

 

ASIA-PACIFIC’S LARGEST MALL SET TO OPEN IN KL THIS OCTOBER

With its sprawling 3.45 million sqf-shopping mall, Berjaya Times Square may just have everything for everybody

With its sprawling 3.45 million sqf-shopping mall, Berjaya Times Square may just have everything for everybody Billed as the largest mall in the Asia-Pacific region, Berjaya Times Square shopping mall in Kuala Lumpur is set to open in October after a four-year delay.

The 3.45 million sqf mall is located within the massive Berjaya Times Square, which boasts of 7.5 million sqf of built-up floor area in a single structure, making it one of the largest buildings in the world and the largest development of its kind in the region. The hotel and service suites take up 1.7 million sqf and car park/building services another 2.35 million sqf.

There will be 916 specialty shops, 1,200 luxury suites, 65 restaurants and cafes, 56 bowling alleys, nine cinemas, an IMAX 3D theater and an indoor theme park.
The project’s developer, Berjaya Times Square Bdn Bhd, has reportedly signed up tenants for 40% of the retail space. The developer says more space will be taken up in the coming months.

Several of the tenants signed up are first-time retailers from overseas to set up shop in Malaysia. These include Natural Source (personal care products) from Australia, Wine Culture (fine dining restaurant), BYSI (ladies’ fashion) from Singapore, and Siam Square (Thai restaurant) from Thailand.

Local retailers which have taken up space include Bonia, England Optical, Poh Kong Jewelry, Toycity and Esquire Kitchen.

Some retailers will also be setting up their new concept stores. For example, the First Mobile Group will display all its state-of-the-art Samsung digital gadgets and electronic products under one roof.

Other attractions are the 380,000 sqf theme park (four thrill rides); children’s area (10 family and children’s rides; Kidz Theater and party rooms and a children’s retail zone called Kidz Town); retailtainment zone called the Grafitti Street; 200,000 sqf Extreme Sports Arena that offers facilities for skateboarding, in-line skating, biking, rock climbing, beach volleyball, street soccer and basketball, bungee trampoline and paint-ball games; and a two-level 320,000 sqf food and entertainment center.

Meanwhile, Mid Valley Megamall, currently the largest mall in Malaysia and one of the largest in Asia, will soon embark on an expansion plan to add about 30% space to its existing mall’s build-up area of 1.7 million sqf.

The new mall will have a higher-end focus to complement the existing mall, and is targeted for completion in 2005.

Market watchers say Mid Valley Megamall is expected to continue doing well despite the impending competition posed by the opening of Berjaya Times Square. “We believe Mid Valley’s strong headstart, location and population catchment, as well as its good tenant mix, will stand its own against this (Berjaya Times Square) competitor,” one analyst says.