Central i-City expects full occupancy for opening
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CPN Ventures, the company running the Central i-City shopping centre in Shah Alam, Malaysia, is confident it will have 100 per cent occupancy when it opens in October next year.
The RM850 million (US$202 million) mall is a JV between Thailand’s Central Pattana Public Company, which has a 60 per cent stake, and I-Bhd.
COO Anthony Dylan says the 100 per cent occupancy target is the standard in Thailand. “The mall will have predominantly Malaysian tenants, and the JV will see the shopping centre combining both Malaysian and Thai strengths.”
He says that despite a shaky start to the year, the Malaysian retail sector is poised for positive growth. In a sluggish first quarter, sales shrank 1.2 per cent
Questions & Answers
Q.Which companies are involved in the joint venture for the Central i-City shopping centre?
Which companies are involved in the joint venture for the Central i-City shopping centre?
The Central i-City shopping centre is a joint venture between Thailand's Central Pattana Public Company, which holds a 60 per cent stake, and I-Bhd.
Q.What is the expected opening date for the Central i-City shopping centre?
What is the expected opening date for the Central i-City shopping centre?
The Central i-City shopping centre is expected to open in October next year. The company running the centre anticipates 100 per cent occupancy by then.
Q.What is the total value of the Central i-City shopping centre project?
What is the total value of the Central i-City shopping centre project?
The Central i-City shopping centre project is valued at RM850 million, which is equivalent to US$202 million. This substantial investment supports its development in Shah Alam.
Q.What is the current state of the Malaysian retail sector?
What is the current state of the Malaysian retail sector?
Despite a shaky start to the year, the Malaysian retail sector is poised for positive growth. Sales shrank by 1.2 per cent during a sluggish first quarter, but prospects are improving.
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