news

GuocoLand’s upmarket Damansara City Mall 50% taken up


retail, Damansara City Mall, DC Mall, GuocoLand

Kuala Lumpur (Nov 26): GuocoLand Malaysia Bhd’s Damansara City Mall (DC Mall), part of the RM2.5 billion flagship development Damansara City, is now 50% leased out. GuocoLand expects DC Mall to be 70% leased by its opening in April next year.

Sitting on 8.5 acres of freehold land next to Pusat Bandar Damansara, Damansara City will eventually have two 28-storey luxury residential towers, a five-star hotel, and two 33-storey, Grade A office blocks (Hong Leong Group is the anchor tenant) in addition to DC Mall.

“DC Mall fulfils the promise of being an integrated development that is all-inclusive to its residents and its surroundings. We hope to provide such an integrated living experience across all GuocoLand properties in the future,” GuocoLand Malaysia managing director Tan Lee Koon said at a media preview of the mall.

DC mall has gross floor area of 320,000 sq ft, four retail floors and a rooftop terrace. There are also an al fresco dining area, vertical gardens and a two-tier roof garden and performance spaces.

GuocoLand, Damansara City Mall, DC Mall, retail

"There will be a redistribution of patronage from the surrounding malls such as Bangsar Shopping Centre and Bangsar Village," said DC Mall senior manager Christine Yeap.

When asked about what makes DC Mall stand out from its competitors, Yeap said, "What we have noticed as an industry, however, is people are moving to the edge of the city centres rather than within them, and we believe our location is truly our selling point for this project."

Boasting 90 outlets, 70% of DC Mall’s tenants will consist of restaurants and bistros such as Kampachi, Awajiya Curry House, Cake Sense, I Love Yoo and Juiceworks.

Yeap said the mall was initially intended to service the immediate area’s community of residents and working population but has since “evolved into a lifestyle oasis which will be sustained by the greater community of Damansara Heights and Bangsar as well as being a central destination for the KL-PJ population.”

Its strategic location, 5km away from Kuala Lumpur city centre, is also close to KL Sentral, future MRT stations and the established townships of Bangsar, Mont Kiara and Taman Tun Dr Ismail.

Yeap added that GuocoLand is working with “established operators looking to roll out new-to-market brands”.

 

SHARE
RELATED POSTS
  1. Malaysia Sept wholesale, retail sales up 5.6% at RM110.6b
  2. Guocoland sees sixth consecutive quarter in the red
  3. Office glut pushes Tower REIT to innovate