By THE STAR
SHAH ALAM: Gamuda Land Sdn Bhd, the property arm of Gamuda Bhd, expects its “Gamuda Walk” community lifestyle mall in Kota Kemuning to open its doors by December 2014.
The building, which is currently under construction, comprises three-storeys of net lettable space of 93,000 sq ft – of which 14% has already been taken up.
“We already have 10 confirmed retailers. We are currently talking to a reputable Japanese supermarket operator which is looking at occupying around 17,000 sq ft. This will increase our occupancy rate to around 31%,” said Gamuda Land managing director Chow Chee Wah (pic) at a press conference following a preview of its Gamuda Walk project yesterday.
Among the confirmed retailers are Famous Amos, Nandos, Rakuzen and Sakae Sushi. The company expects 60% of its retail space to be taken up by year-end.
The mall will also have seven floors of business suites ranging from 600 sq ft to 800 sq ft with a gross development value of RM100mil.
“We are selling 200 units of these suites and right now we only have 30 units left,” said Chow, adding that the office suites were selling for RM550 per sq ft.
Chow expected that as this was the company’s first venture into retail, the biggest challenge was being able to secure well-known retailers.
“We will consider future retail projects, assuming the location is good.”
He said the company is targeting a tenant mix comprising retailers from the food and beverage, entertainment, services, beauty & health and fashion segments. The building will be built on 3.6 acres and is being developed by Setara Hati Sdn Bhd, which is a wholly-owned subsidiary of Gamuda Bhd.
– Malaysia Property News