Posted on March 3, 2013, Sunday
NEW INVESTMENT: Donald (left) talks to a potential buyer during the soft launch of the D-Valley Mall, Apartment and Hotels at the realty office showroom.
KUCHING: D-Valley Mall, Apartment and Hotels, which is strategically located at Jalan Tun Razak here, will become a true shopping haven upon its completion in 2016.
Situated at the prime city centre area in the midst of rapid commercial and residential development surrounding its catchment area, the modern architecture mall complimented with a seven-storey service apartment and hotel, will be looking to attract medium and above market to suit consumers various financial strength.
Encompassing almost six acres, D-Valley mall offers four designated retail floors occupying approximately a total built-up area of 900,000 square feet (sq ft), about 460,000 sq ft of floor area and a total of 400,000 sq ft area to let out.
The ground floor will accommodate either a hypermarket or supermarket, complimented with various renowned food and beverage outlets facing the main entrance. The food court will be situated on the second floor for the convenience of shoppers. A children amusement park measuring about 12,000 sq ft will be situated at the third floor while some 30,000 sq ft at the fourth floor will accommodate a cinema.
Hotel amenities such as function rooms, fitness/spa centre and poolside will be placed at the fourth levels of the mall. Fifth floor onwards are dedicated to hotel and apartment units totalling 258 rooms. The property is owned by MD Realty & Development Sdn Bhd (MD Realty), a subsidiary of the MD Group of Companies.
“Every aspect of the mall is being meticulously looked into at its planning stage for the past one year. Each floor has proper zoning area so that retail outlets are in order and ensuring the floors are constantly vibrant.
“Negotiations are presently on-going with reputable international and local retail brands, promising a wide spectrum of comprehensive consumer preferences,” Group chairman Donald Lawan told a press conference at MD Realty office here yesterday.
Promising an ideal and convenient shopping environment, the former Bukit Begunan assemblyman said three naturally ventilated basement parking bays for about 1,500 vehicles will be built. Each basement has its own entrance and exits for easy access while avoiding traffic congestion. Entrances are available via Jalan Tun Razak, Jalan Wan Alwi and Jalan Chawan.
D-Valley Mall, with its gross development value (GDV) of about RM400 million, will offer investors an opportunity to convert their surplus funds into lucrative tangible investments as owners of a commercial property in a fast appreciating sector.
“Given the tremendous potential for appreciation in value of commercial properties in Kuching, the retail density provided by the existing shopping malls in this city is still much lower than that of other Malaysian cities.
“Investors can expected to benefit whether or not they utilise the shop units they purchase as similar properties in other parts of the country could fetch a much higher commercial value,” Lawan continued.
He assured that the property management will have control of about 70 per cent of the area while the remaining 30 per cent are those who lease back their properties to the mall. Investors will be given a nine-year initial limit so that they could capitalise on the appreciation in value.
A total of 560 units of retail outlets, with size ranging from 114 sq ft to 782 sq ft, are offered for sale at the mall with prices ranging from an affordable RM116,000 onwards per unit. The duration of the strata title is 99 years. Exclusive studio apartment units are available for sale and leased back to the management for 25 years with a guaranteed return of six per cent annually for the first three years. Buyers are also entitled to six-night complimentary stay at the hotel per year. The studio unit apartments are priced from RM290,000.
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