PETALING JAYA: Jaya Section Fourteen Sdn Bhd is looking at acquiring more neighbourhood malls as part of its investment plan, said director Ismail Ani Arope.
“We have a certain amount of funds which has been entrusted by our private real estate fund to look out for assets similar to Jaya Shopping Centre,” he told reporters after the re-opening of the upgraded shopping mall.
According to Ismail, the concentration of shopping malls in the Klang Valley is the main reason the company is focusing on neighbourhood malls as an investment portfolio.
“However, it all depends on retailers and the location of our next asset, which will be based on their preference,” he said.
The developer spent RM400 million on re-opening Jaya Shopping Centre, which was closed in 2009 for redevelopment.
Opened to the public on April 28, the anchor tenants are supermarket chain Cold Storage Malaysia and TGV Cinemas Sdn Bhd.
Other tenants include home-grown brands such as Chapter One Bookstore, CIMB Bank, Hings Watch, Poh Kong, Poya and Serai.
Over 80% of the 270,000 sq ft lettable space was already tenanted by food and beverage outlets and shops offering services and products related to health and beauty, lifestyle and entertainment.
Jaya Shopping Centre forms part of a portfolio belonging to a private real estate fund managed by CIMB-Mapletree Management Sdn Bhd, a joint venture between CIMB Group and Mapletree Investments of Singapore. — Bernama
This article first appeared in The Edge Financial Daily, on May 27, 2014.
TOP PICKS BY EDGEPROP
(CMCO Offer) 5R6B Villa Style Super Link, Puchong
2 Storey Seksyen 8 Bandar Baru Bangi
[ READY TENANT INVEST] New Township Between Cyberj
NEW 1-Storey Semi-D @ Changgang Jaya
NEW Townhouse @ Putra Perdana Puchong
NEW Semi-D Cluster @ Villa Heights Kajang
Rumah Berkembar 2 Tingkat di Kuala Kedah
Kuala Kedah, Kedah
[ READY TENANT+ COVER INSTALLMENT ] Hotel Suites
Rumah Berkembar Setingkat di Kuala Kedah
Kuala Kedah, Kedah
[ Confirm Rental Get RM 3000 ] Students Condo
Freehold Semi-D, Taman Lesung Batu Jaya
Alor Gajah, Melaka
Student Rental RM1800 Cover Instalment! Freehold
Corner Lot for Sale @ Tmn Mawar Salak Tinggi
Semi D 2½ Corner Lot Jalan Kebun Seksyen 30
Shah Alam, Selangor
LUXURY CONDO WITH INFINITY POOL,1st HOME BUYER
[ Europe Style Duplex Condo ] ROI 9% Cash Back