CEO Morning Brief

Sime Darby Property Secures Five Anchor Tenants for KLGCC Mall

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Publish date: Fri, 24 Jan 2025, 10:25 AM
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TheEdge CEO Morning Brief
Back row, from left: Sime Darby Property group CFO Betty Lau Sui Hing, Sime Darby Property group MD & CEO Datuk Seri Azmir Merican and Sime Darby Property COO — integrated development Datuk Mohd Idris Abdullah. Front row, from left: HarborLand Malaysia MD Jane Leong, Jaya Grocer CEO Daniel Teng Tu Yoong, Sime Darby Property COO — investment & asset management Aurelia Lee, Serai Group MD Mohd Najib Abdul Hamid, ACE Hardware CEO Kok Soon Chen and Asia Ballet Academy academy manager Shizreen Saleh.

KUALA LUMPUR (Jan 23): Sime Darby Property Bhd (KL:SIMEPROP) has signed five anchor tenants for its upcoming KLGCC Mall, marking a significant milestone in the company's retail expansion strategy.

The tenants include Jaya Grocer, Serai Group’s flagship concept, ACE Hardware, Asia Ballet Academy, and the first HarborLand kids playland in Malaysia.

The mall, located within the Kuala Lumpur Golf & Country Club (KLGCC) Resort, is located next to the Sime Darby Convention Centre. It is designed to cater to community needs by providing a curated mix of retail, dining and entertainment options in a family-friendly environment.

KLGCC Mall is the company's third wholly-owned retail development, following KL East Mall and the newly launched Elmina Lakeside Mall. This expansion aligns with its SHIFT25 strategy, aimed at enhancing recurring income streams through placemaking initiatives across its townships.

Set to open in the third quarter of 2025, the mall will span approximately 600,000 sq ft of gross floor area and house over 80 tenants, with nearly 70% of the space already leased. In addition to the anchor tenants, the mall will offer a variety of dining options featuring a mix of international and local cuisine, such as El Ocho, Fat Tea, Maruki Ramen, Kay's Steak & Lobster, Pepper Lunch and ParaThai Signature.

Sime Darby Property group managing director Azmir Merican said, “The addition of KLGCC Mall cements the evolution of our flagship Kuala Lumpur development, which complements the existing convention centre, golf course, office tower and mid high-rise residential projects. This mall reflects our strategic positioning as a real estate development company, with retail playing a pivotal role as a key investment sector under our SHIFT25 long-term recurring income strategy.”

Source: TheEdge - 24 Jan 2025

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