KUALA LUMPUR: I-Berhad and Central Pattana Pcl (CPN), Thailand’s largest retail developer, are all geared up to further boost the development of the CentralPlaza@i-City retail mall.
Both parties have executed a number of agreements for the joint development, ownership and management of the upcoming mall.
Under the joint venture, CPN will be responsible for the development and management of the mall while i-City will be responsible for the theme park and the development of other components of i-City.
According to I-Berhad deputy chairman Datuk Eu Hong Chew, the joint venture with CPN is a comprehensive arrangement, with two elements to be addressed.
Eu said firstly, the mall is another building block in making i-City a key tourism destination, in addition to the theme park and hotels.
It will be able to offer a 24-hour leisure experience for the visitors when the mall opens in 2016.
"Secondly, the mall will be part of I-Berhad's investment property plans for i-City. As we already own the Data Centre and car parks, the mall will enable I-Berhad to have a diversified portfolio of investment properties," he said.
Eu said so far, I-Berhad has invested about RM75 million in the various rides and attractions for the theme park in i-City, which includes Red Carpet, Malaysia's first interactive wax museum.
"We expect to have invested RM100 million in the various theme park rides and attractions when the mall opens," he said.
Already attracting about 90,000 visitors a week, i-City expects to see a quantum leap in the number of visitors by the time the mall is completed.
In fact, i-City is planning its next tourism component in the Clarke Quay@i-City - a riverfront leisure development with water-based attractions, fine dining and retail component.
"CPN has the first right to participate in the development of Clarke Quay @i-City," Eu said.
(Business Times, 23 July 2013)
Both parties have executed a number of agreements for the joint development, ownership and management of the upcoming mall.
Under the joint venture, CPN will be responsible for the development and management of the mall while i-City will be responsible for the theme park and the development of other components of i-City.
According to I-Berhad deputy chairman Datuk Eu Hong Chew, the joint venture with CPN is a comprehensive arrangement, with two elements to be addressed.
Eu said firstly, the mall is another building block in making i-City a key tourism destination, in addition to the theme park and hotels.
"Secondly, the mall will be part of I-Berhad's investment property plans for i-City. As we already own the Data Centre and car parks, the mall will enable I-Berhad to have a diversified portfolio of investment properties," he said.
Eu said so far, I-Berhad has invested about RM75 million in the various rides and attractions for the theme park in i-City, which includes Red Carpet, Malaysia's first interactive wax museum.
"We expect to have invested RM100 million in the various theme park rides and attractions when the mall opens," he said.
Already attracting about 90,000 visitors a week, i-City expects to see a quantum leap in the number of visitors by the time the mall is completed.
In fact, i-City is planning its next tourism component in the Clarke Quay@i-City - a riverfront leisure development with water-based attractions, fine dining and retail component.
"CPN has the first right to participate in the development of Clarke Quay @i-City," Eu said.
(Business Times, 23 July 2013)
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