In Semenyih's Setia EcoHill development, S P Setia has disclosed that a new mall will be opening. The EcoHill Walk is scheduled to launch on September 1.
It will have a gross built-up area of more than 200,000 square feet, of which two thirds have already been leased. By the end of the year, the firm hopes to reach an occupancy rate of 80%.
At a press conference conducted in conjunction with the 10-year anniversary celebration of Setia City Mall (SCM) here today, S P Setia Bhd executive vice-president Datuk Tan Hon Lim said, "There are three components there, [with over 200] businesses, the mall and afterwards, [two blocks of] homes."
In the meantime, SCM is nearly 90% full, with foot traffic up about 60% from 2019 as reported in the same press conference.
This is in response to SCM's growth, which saw the inauguration of a new wing in March 2021, bringing its net lettable area (NLA) from 740,000 square feet to 1.18 million square feet, making it the largest mall in Shah Alam. Currently, SCM contains 329 retail locations, with LuLu Hypermarket serving as one of the wing's major tenants.
S P Setia Bhd and Asian Retail Investment Fund (ARIF), a fund administered by Lendlease, collaborated to create SCM.
The management of SCM highlighted that communication was crucial in how the mall assisted retailers during the pandemic.
"We spoke with stores for a long time. We had to quickly transition to offering online delivery options. The pandemic era was handled with in that omnichannel sales progression.
Mitchell Wilson, the head of retail for Lendlease Malaysia, stated at a press conference following the celebrations, "But as we come out, the key to the success of a retail asset is building confidence in the community, and confidence in safety, not only [in terms of] security, but also health and wellbeing.
In addition, SCM has reduced its marketing spend by up to 90% to account for these initiatives and market developments, though no precise figure was provided.
(From left): Lendlease Malaysia chairman Dinesh Nambiar; Tan; S P Setia deputy president and COO Datuk Seri Koe Peng Kang; Lendlease Malaysia managing director Yong Su-Lin, Lendlease CEO Asia Justin Gabbani; Lendlease Malaysia project director, The Exchange TRX and head of retail Mitchell Wilson; and S P Setia divisional general manager Tan Siow Chung at SCM's 10th anniversary launch event on Thursday (June 30). Picture by S P Setia
Wilson mentioned that in order to remain relevant, they have also engaged in customer research. "We conduct three sets of client surveys [on the tenant mix] annually, and we adjust our retail offers in response to demand."
For instance, 20% of the space in SCM is designated for food and beverage (F&B) outlets, and the tenant mix is chosen based on input from focus groups with customers.
SCM has meantime scheduled a number of events for the month of July in order to interact with the local community in Setia Alam and the surrounding regions. Visitors who spend RM380 in one or two same-day receipts will be entered to win fortunate draw prizes worth up to RM50,000. They will also receive a special jersey and mug as part of their purchase, as well as Happy Treats for the kids of I Love SCM members. The "Show Us Your Move Contest" is another dance contest.
The Setia City Mall Run will take place on July 30. Participants can ride in hot air balloons to get a perspective of the township.
©️ June, 2022, edgeprop.my