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Friday, May 25, 2012

WCT plans two more malls

WCT managing director Taing Kim Hwa (left) at the Paradigm Mall launch

PETALING JAYA: WCT Bhd plans to add two more shopping malls to its portfolio to create a steady stream of income to the group.

WCT's maiden retail project, AEON Bukit Tinggi Shopping Centre, was opened in Klang in 2007 and is currently leased to retailer Aeon Co Bhd while its second, the Paradigm Mall, was launched yesterday.

Executive director Choe Kai Keong said WCT's third mall, at KL International Airport 2 (KLIA2) integrated complex, was targeted to be opened by April next year.

“We will be managing the 350,000-sq-ft shopping mall ourselves. Meanwhile, the fourth mall will be part of a 60-acre mixed development in Overseas Union Garden with an expected total gross development value of RM4bil.

“We are in the midst of acquiring the land now,” he said after the launching of Paradigm Mall in Petaling Jaya yesterday.

WCT Land Sdn Bhd general manager Ben Chong said Paradigm Mall would be managed by WCT itself.

“After the experience and learning curve of our first mall in Bukit Tinggi, we are now prepared to manage a mall on our own.

“This would allow us to have the ultimate control on rental rates and other extra income generation,” he said.

By The Star

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