Central i-City is scheduled to open on January 12 as the largest shopping mall in Selangor’s state capital of Shah Alam, Malaysia.
A joint venture between Thai retail property developer CPN Ventures and Malaysian developer I-City Properties, the 940,000sqft mall was constructed on an investment of RM850 million (US$204 million) and features 350 lettable stores, three levels of basement parking and six retail levels. Some 73 per cent of available retail space has already been leased, with the remaining stores expected to be taken up by early next year.
CPN Ventures assistant VP of marketing Siegfried Shaun Dela Pena Tan said: “The mall is expected to transform retail experience for Malaysians. [It caters] to a more affluent target segment attracting shoppers who will spend more, appreciate better and be driven by quality. We expect that the mall will serve more than 900,000 residents in Klang and a further 700,000 in Shah Alam.”
Central i-City Shopping Centre is CPN’s flagship project in Malaysia and first international project.
I-Berhad executive chairman Tan Sri Lim Kim Hong said: “We are bullish about the retail market.
People are unfazed by the economy. They are still shopping and dining out. The mall has a good tenant mix and 25 per cent of the total number of retail shops comprises food and beverage outlets.”