Retailers Pick SStwo Mall

Post date: Aug 16, 2010 11:25:52 AM

August 13, 2010

Thinkproperty

“Researched estimations prove a guarantee of a steady stream of consumers throughout the day for SStwo Mall, due to its strategic location. The mall is in the middle of a consumer catchment area with 62% of the 427, 000 residents currently living within 10 minutes drive time to SStwo Mall. The survey by MIRP Consult also lists 6 major universities and colleges and 6 major companies within a stone’s throw to the mall’s ground, promising a consumer base of students and professionals, managers, executives and businessmen – PMEBs, to make up the footfall of the up-coming mall,” said Sr. Adzman Shah, Deputy Managing Director of DTZ Nawawi Tie Leung Sdn. Bhd., the partners and appointed exclusive leasing agents and centre management team to the neighbourhood mall.

The survey by MIRP Consult also raises the retail prospects of the mall stipulating a strong purchasing power of the residences of SS2 which is of middle to upper household income groups with an average household income of an approximated RM9,060. Signed tenants are a clear indication of the mall’s appeal to brands which cater to the household needs of this vital target market. Home-Fix and Cosway are two of the related brand names to lease a spot in the up-coming mall.

In an effort to be a recognised family and community centric centre, SStwo Mall has put into place a dedicated space along its key attraction - ‘Haven@2’, to be used for activities to engage its shoppers. The open plaza will host performances, shows and variety of other activities with an aim to add colour to the shopping experience of the visitors to the mall. In the pipeline is weeknights Group Salsa Dancing with professional coaches at hand to be of service to mall visitors who would like to participate in this fun and entertaining activity.

SStwo Mall will also be working on creating a platform for the public to get involved in causes that are close to the heart of the SS2 community. The mall is in the process of joining hands with selected non-profit organisations (NGOs) to drive awareness of causes that will in time lead towards the enrichment and improvement of lifestyle such as through the conservation of the natural environment.

Additionally, planned shopper incentive programs, will ensure that patrons to the mall will be rewarded with point redeemable gifts as a token of appreciation to loyal customers. The programs will provide for special privileges to premium cardmembers such as mall event invitations, parking rebates and many more. These planned efforts with the shopper and community in mind is estimated to establish the mall as a shopping destination of choice, to the benefit of its tenants.

“The malls’ cosy and homey design with its wide open walk ways and high ceilings, plus its efforts to engage its consumers, gives me confidence that this will be a place which will have shoppers frequenting and lingering in. Also, I believe that facilities such as one thousand parking bays, adds to the comfort and convenience of the mall to both the consumer and retailers. This makes SStwo Mall a conducive environment for business operations with the high possibility of sustainability and success for its tenants,” said Low Cheong Kee, Managing Director of Home-Fix.

About Asian Retail Mall Fund II

Asian Retail Mall Fund (ARMF II) is a real estate fund managed on behalf of institutional investors by Pramerica Real Estate Investors, the real estate investment management business of Prudential Financial, Inc. of the United States. Pramerica Real Estate Investors offers a broad range of real estate investment opportunities and real estate investment management services in the United States, Europe, Asia and Latin America. Prudential Financial is not affiliated in any manner with Prudential plc of the United Kingdom.

Established in 1994, Pramerica Real Estate Investors (Asia) Pte Ltd. ("Pramerica Asia") has managed nine funds totalling more than US$2 billion in equity, which have been active acquirers of real estate investments throughout Asia. As of March 31, 2010, Pramerica Asia managed US$6.7 billion of gross assets (US$3.4 billion net) throughout Asia.

In Singapore, the success of its shopping malls, namely Tiong Bahru Plaza, Century Square, Hougang Mall, White Sands, Liang Court and Tampines 1 demonstrates Pramerica Asia’s mall management capability.

For more information, visit: http://www.asiamalls.com.sg

About DTZ Nawawi Tie Leung Property Consultants Sdn. Bhd.

DTZ Nawawi Tie Leung Property Consultants Sdn Bhd (“DTZ”) is one of the world’s leading global real estate advisers with 10,000 people operating from 148 cities in 43 countries. DTZ Malaysia comprises of a qualified team of locally registered property advisors and specialists with more than 100 years of collective professional experience. DTZ Retail has advised some of Southeast Asia’s most successful shopping malls as well as leisure and lifestyle centres. Across Europe, DTZ is involved in over 400 shopping destinations, equating to more than 60 million sq ft of managed retail space. DTZ is registered with the Board of Valuers, Appraisers and Estate Agents of Malaysia.

DTZ is appointed as the Exclusive Leasing Agent and Mall Manager.

For more information, visit: www.dtz.com/my