PETALING JAYA (March 25): LaLaport Bukit Bintang City Centre (BBCC) is aiming to achieve an occupancy rate of 80% in August and thereafter 90% by the end of this year. The mall commenced operations on Jan 20, and about 76% of the shops have been signed up, of which 38% have opened for business.  

LaLaport BBCC has a total floor area of 133,000 sq m (1.43 million sq ft) and a store area of 82,600 sq m (889,099 sq ft). It has about 400 stores and features a variety of Japanese brands making their first appearance in the country. It is located within the mixed-use development of BBCC in Kuala Lumpur, a joint venture between UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund.

When sharing the project updates of the entire BBCC development during a media catch-up, BBCC Development Sdn Bhd chief executive officer Low Thiam Chin also mentioned that a new residential component — SWNK Houze — that forms part of Phase 2 of the BBCC development is set to be launched in June.

Comprising a 31-storey block with 441 residential units in total, the units at SWNK Houze will have built-ups ranging from 463 to 1,238 sq ft and come in layouts of loft studio, one-bedroom, 1+1-bedroom, two-bedroom and three-bedroom. Low stated that the units are designed smaller in size to cater for the young urbanites and investors who intend to own a residential property within the city. SWNK Houze will be located adjacent to the transit hub, which connects the existing Hang Tuah monorail and LRT station and also links to the upcoming Merdeka MRT station, ultimately connecting BBCC to the other parts of Kuala Lumpur.

“In addition, an upcoming four-star hotel (part of Phase 2) will be situated next to LaLaport BBCC and above BBCC's entertainment hub, consisting of Zepp Hall, the Malaysian Grand Bazaar (MGB), Golden Screen Cinemas (GSC), a co-working space managed by Regus as well as a banquet hall,” said Low.

Zepp Hall, a concert hall slated to open its doors on May 28, is a subsidiary of Sony Music Entertainment (Japan) Inc. It has a built-up area of about 70,000 sq ft and is the first Zepp brand concert hall outside Japan, housing eight VIP boxes with private lounges and seating areas with a capacity of 2,500 people.

To be soft opened on March 31 is MGB, a cultural and retail hub that provides a dedicated platform for start-up entrepreneurs to showcase their products. “There will be 92 kiosks with built-ups of 100 sq ft and its confirmed tenants include Jas & Co Jewellery, Trusted Sharks, YY Gift, Think a Belle, Summa, Sweet Palate, Sophia by Shirley, Machino and Napel. So far, 52% of MGB’s floor space has been rented out,” said Low.

Meanwhile, Regus will occupy 20,000 sq ft of space and is set to open in end-April to meet the growing demand for hybrid working solutions. “It will comprise 93 rooms with 276 workstations, 55 seats in the reception and common lounge area and three meeting rooms with a seating capacity for 26,” said Low.

GSC complex is expected to open its doors in the fourth quarter of this year. With a total of 13 screens, it will have a seating capacity of 1,400 people.

Previously launched projects are doing well. Launched in 2016, The Stride comprises a 45-storey block of strata offices and is currently 50% sold. The building, which was handed over in February this year, has a net floor area of 419,000 sq ft and consists of 341 flexible office units with built-ups of 1,087 to 11,383 sq ft. Prices start from RM1.4 million.

Lucentia Residences, also launched in 2016, is the first residential offering in BBCC and comprises the 47-storey Tower 1 (393 units) and 35-storey Tower 2 (273 units). Both towers are about 99% sold and the units were handed over in February this year.

“The fully furnished apartment units will have built-ups of 454 to 882 sq ft and range from studios to one-bedroom, 1+1-bedroom, two-bedroom and dual-key units. They have an average price of RM1,750 psf,” said Low.

With a gross development value of RM8.7 billion, BBCC occupies a 19.4-acre tract in Jalan Hang Tuah where Pudu Prison was located. It will be developed/launched in three phases. To date, a total of RM2.4 billion worth of projects have been launched under Phase 1, comprising The Stride, Lucentia Residences, LaLaport BBCC and BBCC entertainment hub. Phase 2 will consist of an office tower, hotel and residential suites, while the last phase will feature the 80-storey BBCC Signature Tower, all of which are still under planning.