Pavilion group is optimistic that it can achieve RM1.7 billion in sales for renting retail space in Pavilion Bukit Jalil City mall during its first year after it starts operating by 2020, reported The Star.
According to Pavilion KL’s Head of Retail Datuk Joyce Yap, over 1,000 businesses have registered as potential tenants in the shopping centre.
“With a net lettable area of approximately 1.8 million sq ft, it is set to be a regional mall in terms of brands mix, flagship stores and concept,” she said, adding that they are targeting an occupancy rate of more than 70 percent in three years.
With a gross development value (GDV) of RM4 billion, the 50-acre Bukit Jalil City project is being jointly developed by Malton and Pavilion KL. It was unveiled two years ago and is being constructed in three phases.
Phase I comprises 112 signature shop offices, while the second phase features 44 retail shops and 1,098 upscale serviced apartments. All of these are sold out.
On the other hand, Phase III consists of 709 serviced residences located within two towers dubbed as Park 2, with Yap launching the second tower on Thursday (17 August).
With a GDV of about RM720 million, the freehold project’s first tower was launched in March with more than 90 percent of the units taken-up, while 70 percent of those in Tower 2 have been disposed. Prices start from RM630,000.
Furthermore, the Bukit Jalil City project will see the redevelopment of the Bukit Jalil National Sports Complex into a modern and world-class sports city by 2020.
Image sourced from The Star
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my
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