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Sunday, July 27, 2008

Beneton Properties to open lifestyle mall in mid-2009

BENETON Properties Sdn Bhd will open a 110,000-sq-ft lifestyle mall called Viva on Jalan Ipoh, Kuala Lumpur, in mid-2009.

Located opposite the Sentul Park, the project is scheduled to be launched this quarter and is expected to be fully occupied when it opens next year.

Viva is a mixed-development comprising a 27-storey apartment block with a retail podium. Its gross development value is estimated at RM100 million.

According to a press release by Henry Butcher Retail, the company instrumental in the planning and leasing of the mall, the annual rental collection from the retail components will be about RM2.7 million.

Beneton Properties has involved in projects like Stonor Park, 2Hampshire, Bangsar Peak and Prima Villa.

"Viva offers high quality retail facilities in a convenient shopping environment. It's set to transform the quality of retail facilities in Jalan Ipoh area from a tired neighbourhood to the latest trendy hotspot," Henry Butcher said.

The mall will adopt a main-street concept, said to be the latest and hottest retail development format in the US. This is in line with today's demand for thematic and lifestyle-oriented shopping places, it said.

The name Viva, which in Spanish means long live, cheer and lively, was chosen to represent the exciting lifestyle playground for the KLites.

The catchment for the mall includes the immediate occupants of the residential component as well as the population of around 150,000 within a 15-minute drive.

By New Straits Times

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