UEM Sunrise’s retail projects thriving despite glut

Developer would like to collaborate, expand and grow with its retail partners via an unique experience

By FARA AISYAH / Pic By HUSSEIN SHARUDDIN

UEM Sunrise Bhd’s retail developments, namely Publika in Solaris Dutamas and the new Arcoris Plaza in Mont’ Kiara are registering high take-up rates despite the increasing number of vacant lots in various other locations in the Klang Valley.

UEM Sunrise GM of retail and assets management Devamanokaran Poonagasu said more than 95% of the retail units in Publika have been leased out, while Arcoris Plaza has a 90% take-up rate.

“We are even receiving many inquiries for the remaining units in Arcoris Plaza. However, we are a bit selective as we would like to collaborate, expand and grow with our retail partners.

“This is what makes people [retail tenants] believe in our credibility. It’s the relationship we’ve established with them,” Devamanokaran told reporters at the introduction of Arcoris Plaza retailers yesterday.

He added that although there are many negative sentiments in the retail market, more malls are still opening up in the Klang Valley within the next 24 months.

Arcoris Plaza is the retail component of the integrated mixed-use RM1.2 billion project Arcoris Mont’Kiara, which comprises four other components including a hotel, business suites, small office home office or SoHo and serviced residences.

The plaza will feature four cascading floor levels, offering 4,946.62 sq m of net lettable area of retail space which houses 38 retail lots.

UEM Sunrise’s largest retail development in Mont’Kiara is expected to be fully occupied by the end of October, and fully operational by January 2018.

Arcoris Plaza will build on the success of UEM Sunrise’s pioneering creative retail concept introduced via Publika.

It will host a wide-retail mix of food and beverages, fashion, health and beauty, leisure, gifts and hobbies, sundry and services, edutainment and general retail stores.

Among the anchor retailers housed within the four-storey plaza are The Majapahit, Kumar, Japan Grocer, Children Discovery House and Tribe.

The other retailers include Alpro Plus Pharmacy, Café Bistro, Chica Chico, First Step Coffee, Global Doctors, Gong Cha, Wetzel’s Pretzel, Hair-S Signature, Merchantrade Asia, myNews.com, Playground, San Francisco, Starbucks, The Lush Clinic, Tokuya, Trishetto Launderette and Wall Street English.

UEM Sunrise MD and CEO Anwar Syahrin Abdul Ajib (picture) commented on the current sen timent in the retail market and said the company managed to survive by providing a unique experience for the mall visitors.

“It is important for us to provide the unique experience to the people who visit our retail spaces. We need to think out- of-the-box and being attuned to the demand.

“Publika for example, is one place where there are many activities other than shopping being held there such as jazz festival, art exhibition and the KL Architecture Festival,” Anwar Syahrin added.

UEM Sunrise will unveil its third retail concept, Radia Retail in Bukit Jelutong, Shah Alam, in the first quarter of 2018.

It is one of the three components of the mixed-development project of Radia Bukit Jelutong, a joint-venture development by UEM Sunrise and Sime Darby Property Bhd.