WCT Bhd gears up to boost its existing portfolio of properties with the addition of two more shopping malls that are expected to provide a steady stream of income for the group.
The company unveiled its maiden retail project, dubbed the AEON Bukit Tinggi Shopping Centre, back in 2007 and is now leased to retailer Aeon Co Bhd.
The second retail project, which was launched yesterday, is the Paradigm Mall, while the third mall at the KL International Airport 2 (KLIA2) integrated complex is scheduled to open by April next year, said Choe Kai Keong, Executive Director at WCT.
"We will be managing the 350,000-sq-ft shopping mall ourselves. Meanwhile, the fourth mall will be part of a 60-acre mixed development in Overseas Union Garden with an expected total gross development value of RM4 billion."
"We are in the midst of acquiring the land now," he said at the launch of Paradigm Mall in Petaling Jaya.
Ben Chong, General Manager at WCT Land Sdn Bhd, noted that Paradigm Mall will be managed by WCT itself.
"After the experience and learning curve of our first mall in Bukit Tinggi, we are now prepared to manage a mall on our own. This would allow us to have the ultimate control on rental rates and other extra income generation."