SEBERANG JAYA – The Covid-19 pandemic has not stopped Sunway Carnival Mall from expanding its retail space to double its current size, with 95% of retail space already leased. It is due to open its doors on April 1, 2022.
During the launch and press conference today, Sunway Carnival Mall general manager Chai Wen Yew said that Sunway Group has invested RM500 million into the mall so far for the 500,000 sq ft expansion and the refurbishing of the current mall.
“We could have opened the (new) wing earlier if not for the Covid-19 pandemic, but despite the pandemic, we are still launching our extension.
“We are also proud to say that we have confirmed 95% tenancy that includes first-time brands on the Penang mainland and also the whole of Penang,” he said during the virtual launch.
“The new wing will add 130 retail lots to the mall, with 120 lots already committed.
“By doubling the space to one million sq ft of retail space, the number of shops is set to increase by 60% from 220 shops to 350 shops.
“Collectively, this exercise is expected to bring about economic and social multipliers with an additional 1,500 new jobs created for the local community,” he said.
Before the pandemic, Chai said that it was averaging 650,000 to 700,000 visits a month, totalling eight million a year. However, with the expansion, they are looking at 12 million visits a year.
Sunway Malls and Theme Parks chief executive officer HC Chan said that he is glad that Sunway Carnival Mall had the chance to hold the unveiling ceremony as it is a commendable achievement at this point in time.
“Many malls that are open would not have such high occupancy (rate) as the market is going through a consolidation stage – understandably because of the very severe and prolonged forced closure, with a total of over 200 days of closure since Covid-19 hit.
“Over 98% of mall business and cash flow have been severely impacted,” he said.
However, he commended the Sunway chain of malls for its strong branding and close ties with business partners, customers and tenants that helped it endure through the toughest times.
Chan said Sunway Carnival Mall is going forward with confidence and is committed to opening next year with the aim of attracting the 1.6 million population within its 15-km radius and also those on Penang island, Kulim, Parit Buntar and Sg Petani.
“Penang is a highly urbanised, affluent and discerning market. Given such strong fundamentals, we need to be well-prepared and well ready when normality returns,” he said.
“The seeding thought for Sunway Malls is to deliver a more comprehensive retail brand presence beyond Klang Valley into other key urban markets.
“It is about growing, curating and completing the retail mix for the Penang market,” he added.
“We believe too that a long-term, progressive and visionary view that goes beyond the current crisis is needed. Hence, we remain confident and build for the future – first with Sunway eMall and now the Sunway Carnival expansion.
“The long-term outlook of the mall industry remains bright and robust.”
Upon the expansion’s opening, the mall will enter its next phase where the original mall will undergo refurbishment. They are aiming for the Green Mark Gold Certification for sustainability with practices such as the use of solar panels, efficient chillers and 100% LED lighting.
The mall’s expansion will see a mix of international, regional and local retail brands such as Jaya Grocer, JD Sports, Bath & Body Works, Innisfree, Laneige, Victoria’s Secret and more.
It will also see the largest GSC Cinemas cineplex in the northern region with 13 screens. – The Vibes, December 2, 2021.
