Malaysia’s biggest urban grocer to anchor S P Setia’s KLEC Mall

KUALA LUMPUR (Oct 24): S P Setia Bhd’s KLEC Mall at KL Eco City will feature the biggest urban grocer in Malaysia when Bangsar Market by Jaya Grocer opens for business as its anchor tenant in 1Q2018.

Bangsar Market will occupy 54,000 sq ft of space — or the entire second level of the mall — providing the “urban sophisticate” with an authentic urban grocery shopping experience, according to S P Setia divisional general manager Tony Ling. 

“The inspiration for this concept came from internationally-renowned markets such as Camden Market and Borough Market in London and the Queen Victoria Market in Melbourne.

“The concept is further supported by the accessibility of Bangsar Market by Jaya Grocer at KLEC with the many links to transport hubs as well as Mid Valley City.

“S P Setia has invested approximately RM200 million to construct dedicated ramps and bridges, including the unique two-tier internal road system [that] allows traffic to enter and exit the various components of the integrated development via major roads such as the Federal Highway, New Pantai Expressway, Jalan Maarof and Jalan Bangsar,” he said during his speech at the unveiling event today.

Ling added that Bangsar Market by Jaya Grocer will stand out from the current competition with the integration of food and beverage (F&B) into the concept, thus providing opportunities to enjoy a broad spectrum of dining choices.

“This will include the dining-in concept which has become a Jaya Grocer signature; allowing diners to purchase their seafood or meats from the market and have it prepared on-site.

“There will also be a range of restaurants and cafes to cater to all tastes and budgets including an exclusive wines and spirits section that also offers craft beer,” he added.

The 25-acre KLEC is the first integrated green luxury development anchored by prime commercial offices, high-end retail outlets, luxury serviced residences and residential towers.

Meanwhile, KLEC Mall is a five-storey property that offers about 250,000 sq ft of retail space with a carefully curated selection of restaurants, specialty stores and services. It is slated for opening in 1Q2018.

“We have an occupancy rate of about 60% as of now. Nowadays less people go to the wet markets but with Bangsar Market by Jaya Grocer, you can still experience shopping in a wet market here at KLEC Mall.

“As a boutique mall, we are offering a selection of special tenants, as compared to the ones you usually see in other malls,” Ling told EdgeProp.my on the sidelines of the event.

He added that the second serviced residence in KL Eco City, ViiA Residences has achieved a 75% take-up rate since its launch at end-2016.

“So, by early next year, we should be able to hit a take-up rate of over 90%. The third serviced residence block will be launched end of next year,” added Ling.

Meanwhile, Jaya Grocer chief operating officer Molly Loh said that by the end of this year, the retail grocer is looking to have 25 outlets across Malaysia, and 30 by 2018.

“Even if you don’t eat out, you would still have to buy groceries so the business is somehow recession proof.

“The concept of Bangsar Market by Jaya Grocer is the brainchild of Teng Yew Huat, founder of Jaya Grocer where he aims to bring back the feeling of shopping in a fresh wet market to modern day shoppers,” she said.