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Tag: Central i-City

  • Central i-City to open on Jan 12

    Central i-City to open on Jan 12

    Central i-City is scheduled to open on January 12 as the largest shopping mall in Selangor’s state capital of Shah Alam, Malaysia. A joint venture between Thai retail property developer CPN Ventures and Malaysian developer I-City Properties, the 940,000sqft mall was constructed on an investment of RM850 million (US$204 million) and features 350 lettable stores, three levels of basement parking and six retail levels. Some 73 per cent of available retail space has already been leased, with the remaining stores expected to be taken up by early next year.

    CPN Ventures assistant VP of marketing Siegfried Shaun Dela Pena Tan said: “The mall is expected to transform retail experience for Malaysians. [It caters] to a more affluent target segment attracting shoppers who will spend more, appreciate better and be driven by quality. We expect that the mall will serve more than 900,000 residents in Klang and a further 700,000 in Shah Alam.”

    Central i-City Shopping Centre is CPN’s flagship project in Malaysia and first international project.

    I-Berhad executive chairman Tan Sri Lim Kim Hong said: “We are bullish about the retail market.

    People are unfazed by the economy. They are still shopping and dining out. The mall has a good tenant mix and 25 per cent of the total number of retail shops comprises food and beverage outlets.”

  • Thai retail developer Central Pattana to rejuvenate Central World

    Thai retail developer Central Pattana to rejuvenate Central World

    Thai shopping centre owner Central Pattana says it is revitalising its premium malls to “pioneer future trends of retail and tackle the digital era”.

    Under a “five-year vision” it calls ‘Co-creating Center for Life” – a name which appears to have lost its actual meaning in translation from Thai – it will invest US$3.1 billion (100 billion baht) on five new and existing centres in Thailand and abroad. They are CentralWorld in downtown Bangkok, Central Phuket, Central i-City near Kuala Lumpur in Malaysia, CentralPlaza Ayutthaya and Central Village.

    Preecha Ekkunagul, president and CEO of CPN said the only way to survive In the era of digital disruption currently happening around the world is to adapt.

    “CPN sees this change as a challenge and opportunity that will allow us to create a new chapter of retail industry again, similar to what we have done over the past 38 years. Our new vision for the next five years is to … make CPN’s shopping centers destinations for all, where everyone can live life. The important pieces of the jigsaw are all our business partners and tenants that will co-create these new things for business success and sustainable growth.”

    The renovation of CentralWorld will be launched in November 2018.

    Central Phuket, which will open in September, mixes leisure lifestyles with world-class attractions: ‘Tribhum’ – the Mystery of Three Worlds in a 3D-walkthrough theme park – and Aquaria, which is claims will be the largest aquarium in Thailand.

    CentralPlaza Ayutthaya is a new lifestyle destination in the world-heritage city, which was once Thailand’s capital and is a popular tourist destination. That will open in December next year.

    Central Pattana describes Central Village as “the first international retail outlet in Thailand”.

    Co-creating life

    Meanwhile, the company has described its vision ‘Co-Create Center of Life’ as a blend of three strategies:

    • Create Destination Concepts: “Develop destinations for all customers by lifestyle and preferences and also categorise products and services based on lifestyles.”
    • Create Digital Platforms: “Offer seamless experience by delivering the real-time personalised offers, enhancing the online experience to conveniently and quickly connect customers’ mobile devices to services in shopping centres and integrating market platforms by teaming with Central JD to add a sales channel that is more seamless.”
    • Create Partnerships with business partners such as I-Berhad “to create the I-City ultra-metropolis,” and co-operating with Ikea to create the first in the world of a new store format at one of its largest malls in Bangkok.

    Central Pattana, part of the huge retail and FMCG conglomerate Central Group, currently has 32 shopping centers in Thailand.

  • Malaysia’s Central i-City shopping centre to open in 2018

    Malaysia’s Central i-City shopping centre to open in 2018

    Selangor’s Central i-City Shopping Centre is scheduled to open in the fourth quarter of the year.

    A collaboration with i-City Properties, it is the first international regional shopping centre for Thai developer/investor CPN and Malaysia’s i-City Properties.

    Among anchor tenants just announced are Sogo Department Store and Village Grocer. TGV Cinemas will offer the first Imax screen in the region, along with eight digital cinemas seating up to 1800 patrons.

    The project has a gross development value of RM850 million (US$216.6 million).

    CPN Thailand COO Pakorn Partanapat says the goal for the shopping centre is to boost the mall/tenant relationship to ensure a win-win for everyone.

    CPN Malaysia COO Anthony Dylan says the 940,000sqft (87,000sqm) shopping centre will have 350 retail shops over six levels.

  • Central i-City expects full occupancy for opening

    Central i-City expects full occupancy for opening

    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