Thursday, September 2, 2010

Penang: Upcoming Shopping Malls by End of 2010

Two new shopping malls will be added into Penang's list of shopping destinations by the end of this year. The much awaited 1st Avenue Mall in KOMTAR and Straits Quay in Seri Tanjung Pinang.

1st Avenue

Part of KOMTAR's phase 3 development, built with a cost of RM 300 million and boasts a retail area of 430,000 sq ft,1st Avenue (previously Mutiara Parade) will finally be completed and opened around September. It will be among the larger shopping malls in Penang.

The mall will be managed by American based Pramerica Real Estate Investors. The target market are the upper middle class Penangites, offering besides restaurants and shops, entertainment outlets, a cineplex and karaoke. Parkson will be the anchor tenant, taking up 95,000 sq ft and 4 levels.

Straits Quay

Located in the new waterfront township of Seri Tanjung Pinang, Straits Quay is expected to open its doors in November or December.

The mall will house 100 tenants, including restaurants, cafés, bistros, bars, boutiques, entertainment outlets, a Royal Selangor Visitor Centre and an education centre. A total of 270,000 sq ft to stroll.

Within the vicinity is a marina, a events square called Straits Court, service apartments called The Suite @ Straits Quay, water front promenade, a fish market, a performing arts centre and the Straits Quay Lighthouse. The lighthouse will house a 5 storey seafood restaurant with an aquarium theme. A water limousine service is expected to ferry people from the marina to E&O Hotel in Upper Penang Road.

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