Setia City phase 2 expansion already 70-per-cent leased
Setia City Mall’s phase 2 expansion will make it the largest mall in Shah Alam upon completion by the second half of next year.
The mall, a joint venture between S P Setia and Lendlease Development, has taken in more than RM500 million (US$119.6 million) investment to add an additional 450,000 to the property, taking it to 1.2 million sqft.
The redevelopment has already secured 70-per-cent tenancy, according to Lendlease Development (Malaysia) head of retail Mitch Wilson. He added that footfall to the mall is expected to increase by 30 per cent when complete.
“The expansion of Setia City Mall at this juncture augurs well with S P Setia’s long-term vision for its investment property arm,” said S P Setia executive VP Datuk Tan Hon Lim. “Being located in the 4000-acre flagship township of the Setia Group, the mall is poised for steady growth as more residents move into the township, which upon completion will be home to possibly 200,000 people.”
Key tenants at the mall currently include Parkson, Urban Fresh and Golden Screen Cinemas.