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Friday, June 18, 2010

Asian Pac to build 'the most fashionable address' in KK

ASIAN Pac Holdings Bhd wants to make KK Times Square II, the second phase of its mall and office project in the heart of Kota Kinabalu, Sabah, 'the most fashionable address in the city'.

The second phase, a 3.7 million sq ft mall and service apartments, is being developed by Syarikat Kapasi Sdn Bhd, a subsidiary of Asian Pac.

"Much thought has been put into its design with the aim of making it into the most fashionable address and shopping destination in the city," said Asian Pac chairman Tan Sri Megat Najmuddin Megat Khas.

Strategically located along the coastal highway within the city's business district, the 15-acre development comprises a four-storey shopping mall and serviced apartments.
The shopping centre, to be called The Mall, will have 670,000 sq ft of retail units available for lease only and not for sale. Parkson is the confirmed anchor tenant.

There will also be five blocks of serviced apartments. KK Times Square II's third component is 41 units of exterior shops which will be sold.

Construction of KK Times Square II is expected to start this year.

Megat Najmuddin was speaking to reporters at the signing ceremony between Kapasi and Danajamin Nasional Bhd for a financial guarantee facility agreement where Danajamin will guarantee Kapasi's RM200 million five-year Private Debt Securities programme.

By Business Times

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