KUALA LUMPUR (April 19): Paradigm Mall Johor Bahru (JB), which is set to open in November this year has secured more than 200 tenants to date.
Located on a 13-acre freehold site, the mall is part of a RM1.5 billion integrated development by WCT Holdings Bhd (WCT) that will include a proposed 296-room hotel and a 24-storey serviced apartment
The mall is about 90% completed as at early this month and is poised to receive its Certificate of Completion and Compliance next month.
In his speech at a tenants unveiling ceremony today, WCT group managing director Datuk Lee Tuck Fook said the mall aims to set a new benchmark in terms of retail and lifestyle development in the country’s Southern region.
With 500 retail lots, Paradigm Mall JB has secured more than 200 tenants that will take up over 75% of the mall's 1.3 million sq ft of net lettable area.
Parkson will be an anchor tenant taking up a total of 200,000 sq ft of space spread over four floors, marking its first regional store in the Southern region.
The other tenants include Golden Screen Cinemas, Village Grocer, Padini, Harvey Norman, Uniqlo and Brands Outlet.
The mall will also feature a 20,000 sq ft Paradigm Ice Rink, the first indoor skate park in Malaysia by Showroom and Hundred, and the largest of its kind in Johor.
WCT has appointed Kuala Lumpur Pavilion Sdn Bhd as the retail manager of Paradigm Mall JB.
It has also appointed Selena Chua as the CEO of retail division as part of the company's on-going expansion plan to further solidify the retail malls business.
"WCT’s retail mall business continues to contribute positively to our performance, with our retail malls in Bandar Bukit Tinggi Klang, Paradigm Mall Petaling Jaya and gateway@klia2 enjoying good occupancy since their inception," Lee said.
Meanwhile, Chua said the occupancy rate for Paradigm Mall JB will be much higher when it opens.
"The mall is expected to be 100% taken up in 2018. We are carefully selecting our tenants and talking to a lot of Johor retailers," she added.
As for the hotel and the serviced apartment project dubbed BRIO Residences, Lee said the estimated gross development value for them is about RM100 million and RM150 million to RM200 million, respectively.
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