Sunway Velocity Mall 80% leased

PETALING JAYA (May 26): Sunway Velocity Mall has leased out 80% of its net lettable area of over a million square feet ahead of its opening scheduled for October, said Sunway Shopping Malls and Theme Parks CEO HC Chan.

He expects the mall’s occupancy to hit 90% when it opens on Oct 28, and for the mall to achieve full occupancy next year.

The mall has attracted a number of major tenants which include Parkson, TGV Cinemas, Harvey Norman, Uniqlo, Grand Imperial and AEON MaxValu Prime, said Chan at a ceremony to announce the tenants today.

Some 50 other tenants are expected to be announced in the next month or so, he added.

"Most of the time, the Cheras community has to travel out of the area to find their favourite brands, and dining and entertainment options due to the lack of quality and large indoor retail spaces with a good variety of [retail] offerings. Sunway Velocity Mall is set to change that, and will offer a breath of fresh air in the KL mall scene," he said.

"There are so many shopping malls out there now that it is important for retailers to carefully choose where to set up their stores. At Sunway Velocity, it is easily accessible via roads such as Jalan Cheras, Jalan Pudu and Jalan Tun Razak. The Cochrane MRT station is only 100m away while the Maluri MRT and LRT interchanges are just 200m away," he added.

The mall also boasts 6,500 parking bays.

Sunway Bhd managing director of the property development division for Malaysia and Singapore Sarena Cheah who was also at the event today noted that the take-up rate of the serviced apartments in Sunway Velocity, the V Residence, is encouraging.

"Almost 90% out of our 1,338 units of serviced apartments have been sold to date which is a testament to Sunway's reputable brand and our quality products," she said.

Sunway Velocity Mall is part of the 23-acre Sunway Velocity integrated development consisting of residences, offices, a hotel and an upcoming medical centre. The development has a gross developement value of RM4 billion.

The mall has seven floors of retail space spanning across one million square foot of net lettable area with 500 retail, food and beverage, and entertainment outlets. 

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