PETALING JAYA: Korean fashion retailer The Twee will open its first flagship store in South East Asia (SEA) at KL Gateway Mall.
The mall is part of the KL Gateway mixed development in Bangsar South, Jalan Kerinchi, Kuala Lumpur by Suez Capital Sdn Bhd. The mall is set to open to the public on March 2, 2017.
Located along the Federal Highway, it offers a net lettable area of about 400,000 sq ft across seven levels, with over 200 retail outlets.
“Not only will it be their flagship store, but it will be the first in Malaysia and the biggest in South East Asia,” Suez Capital head of asset management Michael Chee Soon Hin told TheEdgeProperty.com.
Launched in 2009, The Twee currently has over 28 fashion stores as well as kiosks in major departmental stores across Korea as well as in Shanghai, China, according to the fashion brand’s website.
Targeting mainly those between 19 and 25 years of age, the fashion retailer will take up about 11,000 sq ft of space at KL Gateway Mall.
Chee said the mall is already 80% occupied and Suez Capital is looking to achieve 100% occupancy by April 2017.
Among the other tenants secured for the mall are Village Grocer, Yamazaki Bakery, Doutor Coffee, H&M, Home’s Harmony, Mr DIY, Yubiso, Daiso, Times Bookstore and Cotton On.
Suez Capital has also invested in an automated car park system for shoppers.
“It will be the biggest automated car park in South East Asia with 1,230 automated parking bays in addition to the 900 normal parking bays.
“Today people want to have convenience, security and to enjoy new technology. You don’t have to waste your time searching for parking or worrying that you might forget where you have parked.
“So this automated car park system is like a valet service but automated!” said Chee. The automated car park facilities will be ready by February 2017. KL Gateway Mall will also offer free WiFi throughout the common areas of the mall.
“The concept of the mall is based on a street mall. You will not be bored,” he declared. Each floor is inspired by elements from a different continent of the world, he added.
Michael CheeTargeting young families and urbanites, Chee said the mall also has a 10,000 sq ft outdoor landscaped garden for the eco-driven urbanites where residents can use the space as a little vegetable patch.
“This is especially for our residents in the residential units above the mall where the space can be used by them to educate young children by growing their own vegetables such as tomatoes and herbs.” There is also a Central Piazza for people to gather and hang out with their friends and family.
“This is a lifestyle mall for the community to serve their needs, be it lifestyle or fashion or household needs,” he said.
The projected footfall for KL Gateway Mall is more than 10 million annually with 40% of the estimated footfall from LRT (light rail transit) commuters as the mall will be connected to the KL Gateway-University LRT Station located about 100m away via a covered and air-conditioned link bri
On whether there is an oversupply of mall space in the Klang Valley, Chee said, “It’s an undeniable fact.”
“But I always live by this: carve a niche, live by it and then develop it. The thing with shopping malls is that they have this window of opportunity.
“And our opportunity is the 400,000 catchment and 1.9 million pairs of eyes along the Federal Highway. It goes back to the location, it’s a fantastic location whereby it is a perfect place for people from KL, Petaling Jaya, Bangsar or even Klang to come by [the mall],” he said.
He added that the mall’s rental rates are “very competitive,” despite its prime location.
“Carving a niche for the right people, right market and with the right strategy is very important to us, instead of just going with the concept of ‘build first and then people will come’.
The entire KL Gateway integrated development has a total gross development value of RM1.6 billion. There will be four residential towers of over 1,180 units with built-ups ranging from 500 sq ft to 1,400 sq ft which will be completed in 2017 while the two Grade A corporate office towers are being delivered in stages.
It is accessible via the Sprint Expressway, New Pantai Expressway, New Klang Valley Expressway and the Federal Highway.
Source: The Edge Property Malaysia