Pavilion Elite targets to open in November

KUALA LUMPUR (Aug 5): Pavilion Elite, an extension to Pavilion Mall Kuala Lumpur, is expected to open its doors to shoppers in November.

The retail component of the Pavilion Mall KL mall extension has secured more than 85% tenancy to date and is expected to be fully tenanted by early next year, said KL Pavilion Design Studio Sdn Bhd design director Tan Peng Han.

Located adjacent to the Pavilion Mall, Pavilion Elite’s retail podium offers a net lettable area of about 250,000 sq ft across 10 levels.

The new retail extension has secured more than 50 brands, including ABC Cooking Studio, The Planet Traveller, Coach, Huawei, COS, VLV Life and many more, said Kuala Lumpur Pavilion Sdn Bhd retail CEO Joyce Yap at the brands unveiling ceremony yesterday.

“In spite of a challenging year for the shopping industry, the project has managed to achieve more than 85% occupancy — proof that demand for retail spaces in Kuala Lumpur in a prime and strategic location in Bukit Bintang is still promising,” she said.

Yap noted that some of the tenants are new in Malaysia, including ABC Cooking Studio, The Planet Traveller, COS, VLV Life, The Wallet Shop and Simmer Huang.

Meanwhile, Tan said some of the tenants are Pavilion Mall’s existing tenants. “These tenants will move from Pavilion Mall to bigger retail spaces in Pavilion Elite while their vacated shops in Pavilion Mall will make way for new tenants,” he said.

While he did not disclose the rental rates for Pavilion Elite, he said the rentals would be similar to that of Pavilion Mall’s.

Looking ahead, while Pavilion Elite is finalising another 10% occupancy, Tan expects that the new mall would be fully tenanted before the Lunar New Year 2017.

The project, which has 40-storeys of residential suites on top of the retail podium, will feature over 70 brands with a mix of fashion (40%), F&B (30%) and urban leisure (30%).

Pavilion Elite is developed by Urusharta (KL) Sdn Bhd, a joint venture between the Pavilion Group and Qatar Holdings LLC. The overall integrated project costs some RM650 million to build.

This story first appeared in TheEdgeProperty.com pullout on Aug 5, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.