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SEBERANG JAYA, June 24 (Bernama) -- Sunway Malls will be placing emphasis on the northern region after the successful expansion exercise of the Sunway Carnival Mall in Penang.
In a statement today, Sunway Malls said despite economic challenges caused by COVID-19, the Sunway Carnival Mall saw it double its retail space to one million square feet (sq ft) with 95 per cent leased and opened with an 80 per cent occupancy.
The RM500 million expansion saw a 60 per cent increase in the number of shops to 350 shops from the 220 shops previously and an expanded parking facility with 3,200 parking bays.
Collectively, the exercise generated significant economic and social multiplier effects with an additional 2,000 new jobs created for the local community, the mall group said.
Sunway Malls and Theme Parks chief executive officer HC Chan said Penang has one of the highest levels of urbanisation in the country at 91 per cent with a population density of 1,500 persons per square kilometre.
“Its strong fundamentals of the highly urbanised, affluent and discerning market; and with the return to normalcy through the endemicity transition and international borders re-opening, this expansion is certainly timely,” said Chan at the official Sunway Carnival Mall post-expansion opening ceremony, here, today.
Cumulatively, Sunway Mall’s current total retail space stands at 5.3 million sq ft of net lettable area with the central region occupying 70 per cent of the mall group’s total retail space while both the northern region and southern region at 19 per cent and 11 per cent, respectively.
With seven physical malls in its portfolio across Malaysia, the group has another two malls in the pipeline which will be located on Penang island and another in Ipoh.
With future developments in the pipeline, Sunway Malls’ future retail space will increase by 52 per cent to 8.0 million sq ft of net lettable area.
On the other hand, the northern region will see it occupying 38 per cent of the mall group’s total retail space in the future.
In conjunction with this, the mall group is expected to grow its assets to 12 physical malls in the next five years.
Meanwhile, Chan said the Sunway Carnival Mall became one of the first in the region to be awarded the Green Mark Gold Plus rating.
“The rating was given to the mall for its practice of actively using energy-saving facilities and offering convenience and safety for visitors.
“The mall also provides a quiet room, named Autosome Room, which has facial identity recognition features for the comfort of those with autism and their family members,” he said.
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