By NST Property. - March 28, 2022
Malaysia Grand Bazaar (MGB), an integral component of the Bukit Bintang City Centre (BBCC) urban regeneration project and Kuala Lumpur's first artisanal mall, will open on March 31, 2022.
MGB spans 100,000 square feet of carefully curated spaces with hints of heritage architecture. It is home to 100 artisanal and authentic local brands that pay homage to Malaysian creators and crafters' creativity and artistry.
According to BBCC Development Sdn Bhd chief executive officer Low Thiam Chin, MGB is being developed to provide a dedicated platform for artisans, micro-brands, start-ups, and art entrepreneurs to scale their businesses into the physical retailing space.
Low said that, despite its prime location in Bukit Bintang, MGB merchants can take advantage of easy entry packages such as affordable rents, fully fitted lots, and marketing support to open their own branded stores in the city centre.
"Our vision is to become the incubator for local brands to reach out to a larger customer base by having a presence in a prime location which can attract both locals and tourists," said Low.
BBCC is a joint-venture between UDA Holdings Berhad, Eco World Development Group Berhad, and the Employees Provident Fund Board.
It will be built in three phases and will occupy a 19.4-acre plot along Jalan Hang Tuah.
The Japanese-inspired Mitsui Shopping Park LaLaport, Zepp KL, a 2,500-capacity concert hall by Sony Music Entertainment Japan, and the 12-screen Golden Screen Cinemas are all neighbouring MGB.
The RM8.7 billion BBCC also comprises the recently completed Lucentia Serviced Residences and The Stride Strata Office, thus ensuring a healthy footfall for this new artsy attraction in town.
According to Low, MGB is a manifestation of the #sapotlokal movement, which gained traction during the pandemic.
Low said visitors to MGB can look forward to appreciating the best and unique creations in various categories such as clothing, arts and crafts items, jewelry and accessories, home decor, and local snacks.
"As an additional perk, our permanent merchants will have the chance to export their products to the international markets through the MGB e-commerce store on marketplaces such as Amazon, eBay, Etsy, and Shopify.
"We want to offer a truly omnichannel solution to our merchants by combining the best of physical and online retailing but focusing on the huge potential of the US market," he said.
MGB also has a 4,000 sq ft double volume centre court with the goal of hosting regular thematic events, cultural performances, and community activities to create constant engagement and experiential retailing focus for its visitors.
BBCC developments
BBCC has so far launched Phase 1, which includes The Stride, Lucentia Residences, Mitsui LaLaport, and the BBCC Entertainment Hub, which houses MGB, Zepp KL, and GSC cinemas.
The second phase will include an office tower, a hotel, and residential suites, while the final phase will include the 80-story BBCC Signature Tower, all of which are still in the works.
The Stride, a 45-story strata office building, was completed in February of this year and has a net floor area of 419,000 square feet. It consists of 276 flexible office units ranging in size from 1,087 to 11,383 square feet, with prices starting at RM1.4 million.
The first residential offering in BBCC, Lucentia Residences, consists of a 47-story Tower 1 (393 units) and a 35-story Tower 2. (273 units). Both towers are nearly sold out.
Tower 1 was completed in February of this year, and Tower 2 is expected to be completed in the second quarter of this year.
SWNK Houze, which is part of BBCC Phase 2, will be available in the second quarter of this year. It consists of a 31-story building with 441 residential units ranging in size from 463 sq ft to 463 sq ft with a loft studio, one-bedroom, one+1-bedroom, two-bedroom, and limited three-bedroom layouts.
The units are designed to be smaller in size to accommodate young urbanites and investors who want to own a residential property within the city with doorstep facilities.
No comments:
Post a Comment