Nu Sentral Mall expected to generate some RM70 million a year

KUALA LUMPUR: Nu Sentral, the upcoming retail mall at transit hub Kuala Lumpur Sentral is expected to generate around RM70 million to RM80 million a year in leasing, said Malaysian Resources Corporation Bhd (MRCB) chief executive officer (CEO) Mohamed Razeek Hussain.

This will translate into rental yield of about 6% to 7% per annum, he told the press after the mall's retail launch on Friday, Aug 6. MRCB and Pelaburan Hartanah Bhd (PHB) are jointly developing the mall on a 51:49 basis.

The mall will have a net lettable area of about 650,000 sq ft, spread over roughly 270 stores, said PHB CEO Kamalul Arifin Othman.

Anchor tenants Parkson Corporation and Golden Screen Cinemas were unveiled at the retail launch. They will occupy 138,000 sq ft and almost 50,000 sq ft respectively.

The mall is scheduled to open in March 2012.