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Tenants sought for 4 malls in Malaysia






KUALA LUMPUR Global real estate adviser DTZ Nawawi Tie Leung Property Consultants Sdn Bhd is seeking tenants for four malls in Malaysia.


DTZ said on Monday two are in the Klang Valley and the other two in Penang and they will provide a total net lettable area of about 1.8 million sq.ft.


Three of the malls are being built while the fourth, Island Plaza in Penang, is undergoing major redevelopment.


DTZ is acting on behalf of Pramerica Real Estate Investors (Asia) Pte. Ltd, which appointed DTZ the Leasing Agent and Retail Mall Manager for the malls.


Two of the new malls, held by investors of Pramerica’s Asian Retail Mall Fund (ARMF), are in the Klang Valley, while the third will be developed in Georgetown, Penang.


“SSTwo” is being built in Petaling Jaya, “Ampang” in Kuala Lumpur while 1st Avenue will open in Georgetown.


As for Island Plaza, the existing property will be upgraded in terms of design and layout. It will be repositioned as a family-oriented mall and will be targeted to savvy shoppers as a niche retail destination.


Ampang Mall, strategically positioned along the upper end of Jalan Ampang, is a brand new mixed-development that is poised to change the urban landscape of the surrounding area.


"The mall, which will be completed by the first quarter of 2011, will consist of a six level retail podium as Phase 1.


"The development has the potential to be expanded to include an office tower in the future," DTZ said.


Ampang Mall will be Kuala Lumpur’s newest eco-lifestyle regional shopping centre, offering a unique shopping experience with a relaxed shopping ambience.


SSTwo is located within the SS2 Petaling Jaya residential and commercial area. This five-level mall is positioned to be a lifestyle neighborhood centre targeted at middle to upper-middle income families with young children.


As for Island Plaza, shoppers can expect fresh physical changes and new retail concepts when the refurbishment is completed. The mall was built in 1996 and with a total net lettable retail area of 326,800 sq ft.


1st Avenue, situated along Magazine Road, is a joint venture between ARMF, Belleview Group of Companies and the Lion Group.


There are seven levels of retail space with a dedicated youth level. Shoppers will also be pleasantly surprised with the iconic two-level dining with an entertainment zone on the uppermost floors.






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