TEP 2 FRIDAY SEPTEMBER 8, 2017 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from www.EdgeProp.my LBS Bina to buy M3 The Datai Langkawi Mall for RM105 mil Government looking closes for restoration at expediting MRT3 The Edge Property Property developer LBS Bina Group The Datai Langkawi forest and Malaysia Bhd announced that it will be buying construction beach resort has closed its doors Gerbang Mekar Sdn Bhd, the mall The Malaysian government may for a 10-month restoration project, owner and operator of the M3 Mall in expedite construction of the Mass said its operator in a statement. Gombak, Selangor, for which it will be Rapid Transit 3 (MRT3) in the Klang This is the property’s most sig- paying RM105 million. This will mark Valley ahead of its planned comple- nifi cant overhaul since opening its its entry into the retail business. tion in 2027 to reap the economic doors in 1993 and will entail build- The M3 Mall in Gombak, which benefi ts of the project. ing new components besides re- was fully developed in the third quar- “We have planned to complete freshing existing facilities. ter of last year, has a market value of MRT2 in 2024 and MRT3 in 2027, but Minister Datuk Seri Liow Tiong Lai. The resort’s guestrooms, suites Publisher and Group CEO RM107 million, said LBS Bina. looking at the benefi ts that we can Liow was speaking to reporters and villas will undergo renovations; Ho Kay Tat Constructed on a 3.2-acre lease- reap from the MRT projects, the min- on the sidelines of the Sustainable the retail space will be refreshed hold site, M3 Mall is part of a mixed istry has proposed to see whether we Urban Transport Summit on Sept 5. while the overall landscaping will development known as Medan Mega can bring forward the completion “We will leave the details to the be enhanced. Melati, which also includes the M3 of MRT3 from 2027. We can start Economic Planning Unit, Land Pub- In addition, a nature centre, extra Residency, comprising two blocks of planning now, because the imple- lic Transport Commission and the spa pavilions and fi tness centre by 16-storey serviced apartments built mentation will take fi ve years. It’s al- Prime Minister’s Offi ce. We have to the beach will be constructed. The Edge Property Sdn Bhd (1091814-P) atop the mall. The mall has a gross ready 2017 and we don’t need to wait work with the different agencies,” Themed Attractions Resorts & Level 3, Menara KLK, No 1 Jalan floor area and net lettable area of another 10 years,” said Transport he said. Hotels Sdn Bhd, the investment PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia 587,572 sq ft and 182,609 sq ft, respec- holdings company that manages tively. It is currently 83% tenanted. The Datai Langkawi, declined to Th eEdgeProperty.com Retail sales growth in the fi rst six Yong @ Eusoffe Chua as its CEO disclose the cost of the property’s Managing Director/Editor-in-Chief Retailers record months was 2.5%, buoyed by improved eff ective Sept 5. makeover and new facilities. Au Foong Yee healthier sales in performance in all retail sub-sectors The CEO post was left vacant for Taking charge of the makeover in 2Q2017. Five out of the six sub-sec- more than a year. Chua is replac- is interior designer Didier Lefort, EDITORIAL 2Q2017 tors, which saw sales shrink in 1Q2017, ing Teo Juhn How, who resigned who was also part of the original Editor Lam Jian Wyn Contributing Editor Sharon Kam Malaysian retailers posted sales did better in the April-June period. on June 8, 2016 to pursue other Kerry Hill Architects team who fi rst Deputy Chief Copy Editor growth of 4.9% in 2Q2017, an im- The department store category professional interests. worked on The Datai Langkawi. James Chong provement over 1Q2017 when overall improved to 15.1% compared with In a fi ling with Bursa Malaysia, Copy Editor Geraldine Tan retail sales contracted by 1.2%. the 0.1% contraction in the Janu- Tower REIT said Chua, 39, was pre- Senior Writer Tan Ai Leng “After a dismal performance in ary-March period. The department viously TA Global’s head of group Writers Rachel Chew, Natalie Khoo, the fi rst three months, the retail in- store-cum-supermarket improved to sales and marketing as well as Shawn Ng, Lum Ka Kay dustry managed to recover slight- 4.1%, supermarket and hypermarket head of group leasing and property Art Director Sharon Khoh Design Team ly during the second quarter,” said posted a 0.8% growth, fashion and management. Nik Edra, Rajita Sivan Retail Group Malaysia managing fashion accessories rose 2.5%, and Before that, he worked for director Tan Hai Hsin in the latest other specialty stores grew 6.3%. The Skateline Malaysia Sdn Bhd from For New Launches/Events/ Press Releases/News Tips Malaysia Retail Industry Report (Au- pharmacy and personal care category 2005 to 2007 as managing direc- email: [email protected] gust 2017) released on Sept 5. continued its positive growth trend in tor and took on a regional role as Tel: 03-7721 8211 Fax: 03-7721 8280 He attributed the better per- 2Q2017, clocking in a 7.9% increase. Skateline Pte Ltd’s managing di- Email: [email protected] formance to the Hari Raya festive rector overseeing Skateline’s oper- ADVERTISING & MARKETING shopping, which helped boost sales Tower REIT appoints ations in Malaysia and Singapore, Associate Account Director, in May, coupled with heavy price said Tower REIT. Advertising & Marketing discounts off ered by retailers. Eusoff e Chua as its CEO Heidee Ahmad (019) 388 1880 Tower Real Estate Investment Trust Senior Account Managers How do I get past issues of this weekly pullout? Cecilia Too (012) 319 7666 (REIT) has appointed Chua Song Ian Leong (012) 359 1668 Go to www.EdgeProp.my Account Manager trending Jeff rey Yeoh (016) 217 9227 to download for free Marketing Support & Ad Traffi c now Madeline Tan (03) 7721 8218 email: [email protected] Email : [email protected] If you have any real estate-related events, email us at [email protected]. NEGOTIATOR ADVISORY SERVICE LAUNCHES + EVENTS Events listed here will also appear on www.EdgeProp.my. Senior Manager Elizabeth Lay Senior Associate Stannly Tan Associate Karen Wong Solaris Dutamas, Kuala Lumpur IJM Land invites all to its fi rst Bertam Properties’ property For enquiries and listings Contact: (03) 2718 7788 Lightival, a grand annual roadshow email: [email protected] GL: (03) 7721 8175/ 8172 Don your kimonos and yukatas celebration of exclusive living Date: Sept 7 to 10 (Thurs to Sun) Email: [email protected] and join UEM Sunrise Bhd at featuring some of The Light Time: 10am to 10pm Publika for the Sama-Sama Waterfront Penang’s most Venue: Gurney Plaza, Persiaran TheEdgeProperty.com pullout is Bon Odori summer festival. exciting and latest off erings. Gurney, George Town, Penang published by The Edge Property Sdn Bhd. It is available with The Edge Visitors will have the chance The developer will be off ering Contact: (04) 222 8111 Financial Daily every Friday. The to experience both Japanese a range of promotions and Bertam Properties Sdn Bhd’s pullout is also distributed at more and Malaysian cultures at the packages exclusive for buyers latest housing developments are than 200 offi ces, shopping complexes, Eco Forest show village grand condos, medical centres, F&B outlets food bazaar, the traditional during this two-day event. being showcased at Gurney Plaza. and LRT stations in the Klang Valley. opening Yosakoi Soran dance, Bon The developer is one of the main You can also download it for free at Date: Sept 9 (Sat) Odori dance and Malaysia’s Confl uential: An artistic property players in Northern www.EdgeProp.my Time: 10am traditional dances such as tribute to Merdeka and Seberang Perai, which is mainly Venue: EcoWorld Gallery @ Eco Zapin, Joget, Bhangra as well Malaysia Day focused on township development. Forest 1, Lingkaran Eco Forest 1, as the 1Malaysia dance. Date: Sept 9 to 18 (Sat to Mon) Eco Forest, Beranang, Selangor Time: 10am to 5pm OSK Property’s Crab- Contact: (03) 8723 2255 IJM Land’s Lightival Venue: 8 Conlay, 8, Jalan tivating feast Th e Edge Malaysia EcoWorld invites all to join the Date: Sept 9 and 10 (Sat and Sun) Conlay, Kuala Lumpur. Date: Sept 9 and 10 (Sat and Sun) EDITORIAL grand opening of its Eco Forest Time: 11am to 8pm Contact: (03) 2181 0788 Time: 11am to 6pm Editor-in-Chief Azam Aris show village this weekend. Eco Venue: The Atrium, Level 1, In conjunction with this year’s Venue: Windmill Upon CORPORATE Forest is the latest township Udini Square, Lebuh Tunku National Day and Malaysia Hills Sales Gallery, B-P7 & Chief Operating Offi cer Lim Shiew Yuin project by EcoWorld located Kudin 3, Gelugor, Penang Day celebrations, KSK Land B-P8, Jalan Permai Genting, ADVERTISING & MARKETING Chief Commercial Offi cer nearby Broga Hill, Semenyih. Contact: (04) 296 1333 and Art WeMe Contemporary Genting Highlands, Pahang Sharon Teh (012) 313 9056 The developer will be showcasing Gallery are presenting Contact: (03) 2161 3322 General Manager its modern double-storey an international artwork OSK Property Holdings Bhd Kingston Low (012) 278 5540 Senior Sales Managers garden home show units. showcase “Confl uential”, invites all to visit Windmill Upon Fong Lai Kuan (012) 386 2831 starting from this weekend. Hills sales gallery and join in a Gregory Thu (012) 376 0614 Sama-Sama Bon Odori by UEM The free admission event will free savoury crab feast.