KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Sunway Malls, the retail division of Sunway Bhd, has commenced construction on the Sunway Ipoh Mall, a significant component of the larger Sunway City Ipoh township development in Ipoh, Perak. The groundbreaking ceremony took place on August 1, 2024, marking a pivotal step in the ongoing development of the area.
Key Details:
Sunway City Ipoh Development:
- Sunway City Ipoh is a 1,350-acre integrated township featuring residential, commercial, educational, and hospitality components.
- The township aims to enhance the economic and social landscape of Ipoh and the broader Perak region.
Sunway Ipoh Mall Project:
- The mall will be developed on an 18.88-acre parcel with a total development cost exceeding RM1 billion.
- It will span over one million square feet of net lettable area (NLA) across four stories, featuring 350 retail lots and 3,000 car park bays.
- Key attractions will include Perak’s first ice-skating rink, an exhibition centre, a 36-lane bowling centre, a multipurpose sports centre, a gourmet garden, and a 10-hall cinema with a seating capacity of approximately 1,500.
Timeline and Vision:
- Sunway Ipoh Mall is expected to be completed by 2027.
- The mall is strategically located along the North-South Expressway, providing easy access for both locals and travelers.
- Sunway Group founder and chairman Tan Sri Jeffrey Cheah expressed confidence that the mall will become a major attraction for tourists and locals alike.
Economic Impact:
- Sunway Malls CEO HC Chan highlighted that the mall is expected to house multiple supermarkets, department stores, cinemas, and F&B outlets, with a focus on integrating local Ipoh and Perak street food vendors into the tenant mix.
- The addition of the mall will increase Sunway Malls' northern region portfolio to 29% of its total NLA, up from the current 15%.
Government and Community Support:
- The groundbreaking ceremony was officiated by Perak Menteri Besar Datuk Seri Saarani Mohamad, who emphasized the importance of public-private partnerships in driving economic growth.
- Cheah reiterated Sunway's commitment to supporting Perak's economic development goals, aligning with the state government's Perak Prosperity Plan 2030.
Future Plans for Sunway City Ipoh:
Upcoming Developments:
- Sunway is planning projects worth RM4 billion in gross development value over the next 10 to 15 years.
- Upcoming projects include Sunway University, a hotel, a convention centre, and Sunway Medical Centre Ipoh, which is slated to be operational by early 2025.
Development Progress:
- To date, approximately 950 acres of Sunway City Ipoh have been developed, with an additional 400 acres planned for development over the next two decades.
Sunway Ipoh Mall represents a significant investment in the future of Ipoh and Perak, promising to enhance the region's economic prospects and attract both local and international visitors. The project aligns with Sunway's long-term vision of contributing to the region's development and prosperity.
Comments
Post a Comment