Viva Homes to open its doors in late 2010

KUALA LUMPUR: Come the end of next year, shoppers in the Klang Valley can look forward to another lifestyle shopping centre christened Viva Homes.

Aimed at rejuvenating the Jalan Loke Yew area in Cheras, the mall is part of Kha Seng Corp Sdn Bhd’s redevelopment of the old Plaza Uncang Emas UE3 commercial building into a two-phase mixed development. The building is in the midst of a RM70 million makeover. The project is being undertaken by Kha Seng subsidiary Viva Homes Sdn Bhd.

Conceptualised as a shopping mall with the tagline “home entertainment and lifestyle”, the focus is on creating a niche home product mall which also offers a full range of lifestyle entertainment and conveniences, said group managing director Bernard Bong in an e-mail interview.

With 660,000 sq ft for leasing only, the lifestyle mall will contain a hypermarket, a nine-screen cinema, food and beverage outlets, banks and shops that will retail audio visual, digital, home improvement and furnishing needs, he said, adding that rental rates are expected to range from RM4 to RM30 per sq ft.

Renovation works began last month and are expected to last a year. The marketing launch is slated for December while the mall is expected to open in the fourth quarter of next year, he said. There are also plans to improve access from Cheras and Kuala Lumpur.

“The second phase of the mixed development includes a 260-room four-star hotel tower above the retail mall,” Bong said, adding that the cost of the hotel construction is around RM80 million. In total, the Viva Homes development site measures eight acres, he added.

Previously, Kha Seng’s foray into the niche development market was the purchase and renovation of the iconic Central Market.

Meanwhile, its Kenanga Wholesale City, a fabric, garment and lifestyle wholesale complex development located on a 3.2-acre site along Jalan Kenanga off Jalan Loke Yew, is under construction.

Bong said response for Kenanga Wholesale City was very encouraging, recording a 100% take-up rate even before piling works had begun. It is scheduled to open its doors in 2010.

With an estimated GDV of RM1 billion, project developer Kenanga Wholesale City Sdn Bhd said the complex has the ambience and amenities of a shopping complex.

The 22-storey building will have a gross floor area of 1.8 million sq ft, with 790 retail lots ranging from 300 to 1,000 sq ft.

It was reported that only 49% of the space was available for sale at RM1,950 to RM3,300 psf, while 51% will be leased out from RM10 to RM25 psf.