Giant Hypermall another money machine for Ibraco

by Irene C reporters@theborneopost.com. Posted on August 26, 2011, Friday

PROUD DEVELOPER: Liew (left) and Chai (right) posing with Ibraco staff at the Ibraco booth during the opening. Chai says the group is in the midst of completing 76 units of shoplots located next to Giant Hypermall which have been fully sold out.

KUCHING: The official launch of Giant Hypermall in Tabuan Jaya – the first hypermall project handled by Ibraco Bhd (Ibraco) – is set to excite Kuching city.
Ibraco’s executive director, Liew Kee Liung, said that Giant Hypermall’s opening yesterday will bring more vibrancy to residents living in the Tabuan Jaya area in terms of shopping convenience.
The mall is fully let out to the management of Giant Hypermarket, GCH Retail (Malaysia) Sdn Bhd (GCH Retail), which then sublet parts of the mall to other retailers including the likes of Eyesight Optic, Sugarbun, SCR, Takasima and All Joy.
“The opening of Giant Hypermall will bring more vibrancy to Tabuan Tranquility. We are very proud of the mall as it is the biggest Giant Hypermall in Sarawak and it complement our Tabuan Tranquility development. It also brings excitement to the people in Tabuan Jaya,” said Liew.
Ibraco senior project officer Chai King Sing said that the single-storey mall has a total area of 125,000 square feet including offices and 43 retail units with 33 shops.
He said that the construction, inclusive of infrastructure and offices, took one year to complete.
“We take this opportunity to work with GCH Retail to bring a new era to Kuching, a city by itself,” Chai added.
As the main developer for Tabuan Jaya, Ibraco does not just cater to residential lots but also other amenities including the Wisma Wan shopping centre. When asked about Ibraco’s future plans, Chai said that the group was in the midst of completing 76 units of shoplots located next to Giant Hypermall which have been fully sold out.
The development of Tabuan Tranquility residential which comprise 242 residential units located just a minute away, is expected to complete end of 2012. To date, 88 per cent have been snapped up.
For the next one or two years, Ibraco will focus on housing projects especially in this area, he said.