CMMT’s Sungei Wang opens new annex block with 85% leasing commitment

KUALA LUMPUR (Oct 1): Newly-refurbished mall Sungei Wang’s new annex block JUMPA @ Sungei Wang has achieved more than 85% in leasing commitment to date.

In a statement, CapitaLand Malaysia Mall REIT Management Sdn Bhd (CMRM) general manager mall management Lawrence Teh Cheng Poh said more brands will be announced soon, including a new-to-market anchor tenant.

“Sungei Wang is one of the most established shopping malls in Malaysia, maintaining and refreshing its appeal through the years with numerous transformations.

“In its latest transformation, we are pleased to present a new experience for shoppers at Sungei Wang, as they weave through the old-world charm of eclectic offerings in the main block, before reaching the modern and vibrant JUMPA @ Sungei Wang, a stylish gathering place with thoughtfully curated retail offerings and unique concepts,” he said.

CMRM is the manager of CapitaLand Malaysia Mall Trust (CMMT), a shopping mall-focused real estate investment trust.

CMMT owns a diversified portfolio of five shopping malls and a complementary office block comprising Gurney Plaza in Penang; a majority interest in Sungei Wang in Kuala Lumpur, 3 Damansara and Tropicana City Office Tower in Petaling Jaya, The Mines in Seri Kembangan and East Coast Mall in Kuantan.

CMMT’s interest in Sungei Wang comprises of 205 strata parcels within the mall which represents approximately 61.9% of the aggregate retail floor area of Sungei Wang, and 100% of the car park bays in Sungei Wang.

In the past 16 months, JUMPA @ Sungei Wang underwent a RM54.5 million facelift to convert the previous anchor tenant space into specialty stores, and update the facade and interior design of the annex block, CMRM said.

The refurbishment project was initiated by CMMT, as part of its efforts to revitalise and enhance the appeal 42-year-old Sungei Wang.

The REIT manager said JUMPA @ Sungei Wang, which opened on Sept 25 this year, offers a wide range of retail, food and beverage, and family entertainment options, and combines recreation with sports, carving out play areas for wall-climbing and athleisure activities, as well as sporting goods and apparel retailers that cater to working professionals and families looking for a convenient place in the heart of Kuala Lumpur to work out, have fun or relax.

“Sporting a new glistening gold façade, JUMPA @ Sungei Wang features more than 100 stores across six levels, along with a new Little Asia marketplace that invokes a heritage feel with its Peranakan-style printed tiles and open spaces,” it said.

CMRM said the retail space configuration helps to facilitate shopper traffic flow, while its updated fixtures create a comfortable environment for shoppers to linger.

“Urban Street is a curated market place which offers limited edition fashion and accessories targeted at young and hip shoppers. JUMPA @ Sungei Wang features seven new sets of escalators and enhanced visibility between floors, through the creation of void space,” it said.

“Sports enthusiasts will be delighted that JUMPA @ Sungei Wang offers a wide range of brands such as Anta, Skechers, Puma and outdoor and lifestyle brand Outside — a one-stop store for activewear lovers.

“Online fashion retailer Love, Bonito and Boundlezz are among the line-up of fashion outlets, while new F&B brands include Restaurant Yi Poh and SRK Noodle House which offer local Chinese cuisine,” it added.

Meanwhile, CMRM said JUMPA @ Sungei Wang’s anchor tenants include Camp5, Asia’s premier indoor rock climbing gym, and MinNature — the largest 3D printed miniature exhibition in Malaysia.

The anchor tenants are expected to commence operations in December 2019.

“As part of our efforts to refresh the retail experience at Sungei Wang, shoppers will be able to find creative merchandise and experiential activities at the various workshops held at the Main Creative Hub in JUMPA and organised by Main-main,” Sungei Wang centre manager Elise Lim said.

“This is a collaborative effort with Main-main, where we provide the support to a group of entrepreneurs in showcasing their offerings. To celebrate the opening of JUMPA @ Sungei Wang with our shoppers, we have planned a series of marketing events and activities in October 2019,” she said.

CMMT was traded unchanged today at RM1.08, giving it a market capitalisation of RM2.22 billion.