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CPN Ventures, the company running the Central i-City shopping centre in Shah Alam, Malaysia, is confident it will have 100 per cent occupancy when it opens in October next year.
The RM850 million (US$202 million) mall is a JV between Thailand’s Central Pattana Public Company, which has a 60 per cent stake, and I-Bhd.
COO Anthony Dylan says the 100 per cent occupancy target is the standard in Thailand. “The mall will have predominantly Malaysian tenants, and the JV will see the shopping centre combining both Malaysian and Thai strengths.”
He says that despite a shaky start to the year, the Malaysian retail sector is poised for positive growth. In a sluggish first quarter, sales shrank 1.2 per cent