KUALA LUMPUR (Oct 29): Asian Pac Holdings Bhd (KL:ASIAPAC) is partnering with KotaSAS Sdn Bhd to develop a retail and lifestyle destination in Kuantan with an indicative gross development value (GDV) of RM281.3 million, according to a press statement issued on Thursday. 

Asian Pac’s subsidiary, Everest Pioneer Sdn Bhd, entered into a sale and purchase agreement and a joint development agreement with KotaSAS, a wholly owned unit of Tanah Makmur Bhd, for the proposed development.

The project, which marks Asian Pac’s first foray into the East Coast, will introduce KotaSAS’ first shopping mall alongside a lifestyle shoplot precinct with potential future GDV reaching up to RM2 billion. 

Located within KotaSAS’Central Business District, the precinct is situated within walking distance of the upcoming KotaSAS East Coast Rail Link (ECRL) Station to advance the township’s transit-oriented development vision.

Asian Pac executive director Michael Mah said: “We have built and run Imago in Kota Kinabalu for a decade, and we know what a well-run destination does for a city”.

“Our aim in Kuantan is a place people come to on an ordinary weekday, to eat, to meet, to work, to bring their families; not only a mall. KotaSAS has already become an important part of Kuantan's future. We see an opportunity to build on that foundation and create a destination where people come together, businesses grow and the community experiences something new.”

Tanah Makmur group chief executive officer Datuk Shahrul Nizam Abdul Aziz said: “KotaSAS’ first shopping mall and lifestyle shoplot precinct will strengthen the township’s appeal while creating space for a new local economy to flourish. We want local entrepreneurs, retailers and service providers to participate in that growth, supported by new employment opportunities and a broader customer base. Asian Pac’s entry brings valuable retail expertise and a long-term development partner to help realise this ambition”.

The proposed precinct is set to support employment across its construction and operational phases while providing space for local, regional, and national businesses through various commercial formats.

The master-planned township spans approximately 2,165 acres with over 21,000 residents and serves as Pahang’s state administrative centre, Pusat Pentadbiran Sultan Ahmad Shah.