PETALING JAYA (April 25): OSK Property Holdings Bhd plans to open its flagship Atria Shopping Gallery in Damansara Jaya on May 28, said its director of leasing Sally Low.

Atria Shopping Gallery is positioned as an upper-middle class mall with 12 mini anchor tenants including Village Grocer supermarket, Dynasty Dragon Chinese restaurant, and the largest MNG fashion store in the country, she said.

Atria Shopping Gallery has a net lettable area of 470,000 sq ft and is over 80% tenanted, with OSK Property aiming to have 70% of their tenants open for business on May 28, Low added.

The mall is part of a mixed-use development that also comprises small office/flexible office (SoFo) units named Atria SoFo Suites, and the entire development has a gross development value of RM912 million.

The four-storey shopoffices around the mall are expected to enjoy a rebound in rents when the mall reopens as traffic and the immediate environment is expected to improve, said property consultants.

Currently, the ground floors can fetch monthly rents of between RM6,000 to RM7,500 per month while first floors can command an average of RM3,000 per month, said KIM Realty Sdn Bhd CEO Vincent Ng.

Meanwhile, homes in the area may fetch RM1,500 to RM2,000 per month, with demand for accommodation from staff of merchants at Atria Shopping Gallery picking up.

Read more about Atria Shopping Gallery and its impact on the properties in its vicinity in the April 27 issue of City & Country, the property pullout of The Edge Malaysia. Also, view the video here.

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