Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Thursday, January 24, 2008

Kenanga plans RM300m fashion wholesale mall

PRIVATELY-held Kenanga Wholesale City Sdn Bhd is spending RM300 million to build a 1.8 million sq ft fashion wholesale mall at Jalan Kenanga near Pudu Jail.

When completed three years from now, the 22-storey development will help ease congestion at the busy Kenanga area, where garment wholesalers have been operating from multi-level shoplots since the 1990s.

Kenanga Wholesale City chief executive officer Yee Ia Howe said the 790 units are between 300 and 600 sq ft, selling at RM1,980 to RM3,300 per sq ft.

YEE: Demand is so great that the mall was already 70 percent sold before the soft launch

Demand is so great that the mall is already 70 per cent sold before yesterday's soft launch, and some buyers were foreign garment makers.

"This shows the great potential in the domestic garment wholesale industry," he said when launching the showroom in Kuala Lumpur yesterday.

He said the management will work with Malaysia Garments Wholesale Merchants Association to help wholesalers and garment manufacturers in opening regional markets like Indonesia, Brunei, southern Thailand, Taiwan and Singapore.

Deputy Finance Minister Datuk Dr Ng Yen Yen said there are more than 200 fashion manufacturers in Malaysia, mostly small and medium-sized operators.

"By themselves they don't have the infrastructure to help them compete in the global market. We need a centre where purchasers can come and pick up eveything from clothes to accessories and go," said Ng, who officiated the event.

She said although the wholesale mall is a new concept in Malaysia, it is a proven success in Chinese cities like Shenzhen, Shenyang and Shanghai.

"It may not be easy to start this for Malaysia's small population. But Kenanga should also target foreign tourists, which currently spend only a quarter of their expenditure here on shopping," she said.

By New Straits Times (by Chong Pooi Koon)

No comments: