KLCCP to Convert Former Parkson Space Into ‘Street Mall’
KLCC Property Holdings Bhd (KLCCP) will convert a three-level outlet in its Suria KLCC mall, previously occupied by retailer Parkson, into a “street mall”.
The move is expected to raise the rental income of Suria KLCC, while introducing a new mall experience to patrons.
According to KLCCP group chief executive officer Datuk Hashim Wahir, entrepreneurs and start-ups would be able to sell different products in the “street mall”, among which food and beverages will be the main product offerings.
The space will be converted into smaller outlets, said Hashim. He also added that the new tenants will be occupying the outlet spaces by the end of 2019.“This is an opportunity for us to curate the mall to enhance it to the next level. We will transform the ground floor of the outlet into a more open mall, with an exciting experience.“Suria KLCC is actively engaging with the retailers and I am sure they would have a line up of retailers to ensure that the new retail shop lots will be fully occupied,” Hashim told reporters on the sidelines of the Invest Malaysia event yesterday.
Parkson was one of Suria KLCC’s earliest tenants since 1998. The lease for the space of more than 120,000 sq ft previously occupied by the retailer has expired. KLCCP’s property portfolios include Suria KLCC, Mandarin Oriental Hotel, Kompleks Dayabumi and Menara Maxis.Hashim said that Suria KLCC will see a positive impact on its earnings due to higher net property income contributed by the “street mall” next year. When asked about the allocated amount for the company’s asset enhancement initiatives in 2019, Hashim said, “it will be around RM10mil.”