SETIA ALAM (June 30): S P Setia has revealed that it will be opening a new mall in its Setia EcoHill development in Semenyih. Named Setia EcoHill Mall, it is targeted to be opened on Sept 1.
It will boast a gross built-up of over 200,000 sq ft, two thirds of which has already been leased out. The company is targeting 80% occupancy by the end of the year.
“There are three components there, [with over 200] shops, the mall and later, [two blocks of] residences,” said S P Setia Bhd executive vice-president Datuk Tan Hon Lim at a press conference held in conjunction with the 10-year anniversary celebration of Setia City Mall (SCM) here today.
Meanwhile, SCM is almost 90% occupied, with footfall increasing to about 60% compared to 2019, as reported in the same press conference.
This is on the back of SCM's expansion, with the opening of a new wing in March 2021 that increased its net lettable area (NLA) to 1.18 million sq ft from 740,000 sq ft – making it the largest mall in Shah Alam. Today, SCM has 329 retail outlets, with LuLu Hypermarket being one of the anchor tenants in the new wing.
SCM is jointly developed by S P Setia Bhd and Asian Retail Investment Fund (ARIF), a Lendlease-managed fund.
On how the mall supported retailers during the pandemic, SCM's management revealed communication was key.
"We spent a lot of time talking with retailers. We had to shift quickly into providing delivery online services. That evolution of omnichannel sales dealt with the period of the pandemic.
“But as we come out, the key to the success of a retail asset is building confidence in the community, and confidence in safety, not only [in terms] of security but also health and wellbeing,” said Lendlease Malaysia head of retail Mitchell Wilson at the press conference after the celebrations.
Additionally, SCM has adjusted its marketing budget by up to 90% to accommodate these efforts and changes in the market, although no exact figure was revealed.
To stay relevant, Wilson noted they have also conducted customer research and engagements. "Every year, we run three sets of customer feedback [on the tenant mix], and tweak our retail offerings according to the demand."
For instance, 20% of the space in SCM is allocated for F&B outlets – with the tenant mix being selected based on feedback from focus groups with customers.
Meanwhile, to engage with the community in Setia Alam and neighbouring areas, SCM has planned several activities in the month of July. There will be lucky draw prizes worth up to RM50,000 when visitors spend RM380 in one or two same-day receipts, receive a special jersey and mug gifts with purchase and Happy Treats for children of I Love SCM members. There is also a dance competition “Show Us Your Move Contest”.
On July 30 there will also be the Setia City Mall Run with visitors able to ride in hot air balloons for a view of the township.