United I Borneo Hypermall Sdn Bhd, a company incorporated by the retail shop owners of 1 Borneo Hypermall, has taken over the management of 1 Borneo Hypermall with effect from January 1, this year.
The take-over is aimed at safeguarding the interest of the biggest mall in Sabah, a statement issued here yesterday stated.
With a total area of 4.5 million square feet, the whole project consists of four hotels, over 900 units of condominiums and 1.2 million square feet of retail shops.
1 Borneo Hypermall, being the largest mall in East Malaysia, has a bowling alley, cinema, anchor tenants like Giant supermarket, Parkson, F&B outlets and a variety of shops serving customers for the last 10 years.
“We are unique in terms of size, in a strategic and excellent location, and the future is good, once the owners take over its running, reorganise and improve the mall,” said Javed Sani, the newly appointed General Manager of the mall.
Javed, who works under a seven-man main Committee headed by David Wong, is a well-known business personality.
David said that 1 Borneo is a matured mall, with some 70 per cent occupancy which would improve once better service and improvement plans were implemented.
He added another good news for 1 Borneo is that the Strata Titles exercise for the shops, condominiums and hotels would be carried out this year giving all owners their property ownership and increased property value.