KIP REIT completes asset enhancement initiative at KIPMall Senawang in N Sembilan

• The AEI encompasses an addition of a 51,000 sq ft area to facilitate a new anchor tenant — ST Rosyam Mart — modernising retail outlets, mall entrance renovations, air-conditioning system enhancement and firefighting system upgrade.

KUALA LUMPUR (Sept 10): KIP Real Estate Investment Trust (KL:KIPREIT) has completed its asset enhancement initiative (AEI), which was initiated in February this year, at KIPMall Senawang in Seremban, Negeri Sembilan.

In a press release on Sept 4, KIP REIT chief executive officer Valerie Ong Pui Shan said: “We are glad that the rejuvenation and renovation of KIPMall Senawang were completed within the stipulated time frame. At KIPMall Senawang, we are committed to delivering a vibrant and dynamic enjoyable shopping experience. Our focus is on being a one-stop shopping destination that caters to the needs of the medium-income group and mass market segments. With a wide array of retail choices, we believe the mall transformation will significantly elevate the shopping experience for our valued customers.” 

The AEI encompasses an addition of a 51,000 sq ft area to facilitate a new anchor tenant — ST Rosyam Mart — modernising retail outlets, mall entrance renovations, air-conditioning system enhancement and firefighting system upgrade. The mall rejuvenation also included installing LED lighting and solar photovoltaic systems to reduce the mall’s carbon footprint and optimise energy efficiency. 

“We would also like to take this opportunity to welcome ST Rosyam Mart, a leading player in the wholesale market, on board as part of the KIPMall family. With the opening of its seventh retail outlet, which is also the first 24/7 supermarket operator in Senawang, ST Rosyam is taking a significant strategic step to broaden its reach to both business-to-business (B2B) and business-to-consumer (B2C) customers. We anticipate that this new addition will drive higher footfall to the mall, which will benefit all of our other tenants.

"On our end, we will continue to carve a niche retail market, focusing on a strategic approach to finding a balanced mix of tenants and retailers, while fostering a sense of community. This transformation of KIPMall Senawang strengthens our confidence in maintaining our high occupancy rates and driving further growth in net property income in the immediate future,” Ong added. 

Located in the Lavender Heights township in Seremban, KIPMall Senawang is a community-centric mall that has been operating since Dec 18, 2012. Occupying 438,414 sq ft of land size and a net lettable area of 119,767 sq ft, the mall houses 84 retail outlets, with key tenants including Watsons, Mr DIY, Old Town White Coffee, PappaGrill, Zus Coffee, KFC, Tealive, PISB, Hyper Pets, Vern's and XES.

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