KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) is poised to reposition its CapSquare Centre shopping mall into an ICT retail centre called PIKOM ICT [email protected] tentatively scheduled to launch on Sept 15.
The ICT mall, formed in partnership by the National ICT Association of Malaysia (PIKOM) and BRDB, will see members of the former taking up 84,299 sq ft including 102 kiosks over four levels in the main building of CapSquare Centre, said PIKOM chairman Wei Chuan Beng at a media briefing on Wednesday, June 8.
"We want to set the benchmark for digital malls in Malaysia. We will stand out by offering genuine, quality products with warranties from our members. Consumers can also expect the the best deals and bargains when shopping here," he said.
PIKOM has inked an agreement with BRDB for a nine-year lease, with rents ranging from RM2.50 to RM7.70 psf for the first three years, said president Shaifubahrim Saleh.
The rents will be reviewed every three years, with a 10% limit on increments, he added.
Wei said BRDB has also offered PIKOM the option to extend their tenancy by another nine years.
BRDB head of group retail operations John Sironic said that they aim to turn the mall into a better version of Funan DigitaLife Mall in Singapore.
"We need to find a niche, and create a vibrancy that will draw the crowds," he said.
He explained that CapSquare Centre was originally intended to service the denizens of the CapSquare mixed-development, which included office workers and residents, but the mall could not sustain its traffic over the weekends.
Sironic said some tenants engaged in an assortment of businesses other than the food and beverage outlets that will complement the ICT mall have been removed to make way for the new tenants.
Wei said PIKOM ICT Mall @ CapSquare will strive to offer a broad range of the latest consumer IT goods, besides demonstrations for various products and services and other promotions, including visits by celebrity brand ambassadors.
So far, the tenants that have signed up are Acer, Apple, Hewlett-Packard, Lenovo, Garmin, Tom Tom GPS, Imation, Mavisco, Edge, Digital Paper, E-Power, DiGi, Celcom, DETV and Power Cellular. This represents a 50% take-up of the ground floor and first floor.
While the ground floor and first floor were rented out based on a balloting system, the rest of the spaces will be offered on a first-come-first-served basis, said Shaifubahrim.
He added that the mall will also be fully wired up for Internet WiFi access, and two major telcos have already proposed to undertake the task.
To raise awareness of the PIKOM ICT [email protected], BRDB has allocated RM1 million for A&P purposes.
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