Central i-city, the largest shopping mall in the city of Selangor is scheduled to open on January 12 next year. The RM850 million mall has a net lettable area of 940,000 sq ft and will include 350 retail shops with three levels of basement car park and six levels of retail.

CPN Ventures Sdn Bhd assistant vice president of marketting Siegfried Shaun Dela Pena Tan said the mall has achieved 73 percent tenancy and he is targeting it to be fully up by early next year.

Central i-City is a joint-venture project between CPN, which has 60 percent stake, and I-City Properties Sdn Bhd (ICP), an affiliate of Malaysian property developer I-Berhad that holds 40 percent.

CPN is Thailand’s largest retail property developer. It currently manages 33 shopping centres under the brands Central World, Central Plaza and Central Festival with over 70 million sq ft of gross floor area (GFA) space.

It is the leader in the retail development and management sector with the largest share of Bangkok’s retail market, at 22 percent. The company also manages seven office buildings, two hotels, four residential and six condominium projects.

Central i-City Shopping Centre is CPN’s flagship project in Malaysia and its first internationally.


Source: New Straits Times

Fulya Altunyay/realestatecoulisse.com