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Friday, February 5, 2010

MSL sees full Wangsa Maju mall occupancy in 2 months

PROPERTY developer MSL Properties Sdn Bhd expects its newly-opened shopping mall in Wangsa Maju, Kuala Lumpur, to be fully occupied within two months.

Dubbed "Wangsa Walk Mall", the RM100 million mall opened its doors in September last year and now records some 5,000 visitors a day and 15,000 visitors on weekends.

Its visitors are mostly residents from local and neighbouring communities.

"The mall has a 96 per cent occupancy now and we will sign in the remaining 4 per cent soon," said retail mall general manager Foong Meng Khum.
He said the company is expecting an annual yield of between 5 and 6 per cent from the mall.

The Wangsa Walk Mall was officially launched yesterday in a ceremony officiated by Minister of Federal Territories and Urban Well-Being Datuk Raja Nong Chik Zainal Abidin.

The mall aims to serve as a leisure and activity centre for the local community and is equipped with a 400m walking and jogging track around the complex.

MSL Properties has secured Cold Storage as an anchor tenant for the mall, while the mini-anchors include TGV Cineplex, Popular Bookstore, Celebrity Fitness, a family entertainment centre, a household and electrical goods outlet and a food court.

According to earlier findings used to determine the feasibility of the project, over 210,000 people - 51 per cent male - are within a 10-minute radius, of which 24 per cent are under 19 years of age and 39 per cent in the 20- to 40-year-age group.

By Business Times

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