Silverland joins Metier in RM250m Kinta project
Posted on December 4, 2013 | 131 Views | Topic : Property News.
BY LIM WING HOOI
Here we are: (From left) Shaik Rizal, Azizan, Metier CEO Daryll Ashworth and brand director Stuart Cameron at the press conference.
KUALA LUMPUR: Silverland Capital Sdn Bhd is collaborating with Metier Pty Ltd on the RM250mil first phase of its proposed billion-ringgit Silverlakes property project in the Kinta Valley, Perak.
The phase, located across the Batu Gajah KTM station, consists of a 101ha lakeside street mall called “Silverlakes Brand Village,” which will house 180 premium brand retail outlets, a four-star international hotel and a convention centre.
Metier will oversee the mall development, manage the leasing agreements and manage the retail operations upon completion for 15 years.
The Silverlakes project, spanning three parcels of land across 207ha with a gross development value of RM1bil, is being jointly undertaken by Silverland Capital as the developer and Syarikat Maju Perak Bhd, the land owner.
It is slated for completion in seven to eight years’ time and will comprise future premium lakeside homes and a proposed pool villa resort.
According to Silverland Capital managing director Shaik Rizal Sulaiman, there will be 15 food and beverage outlets at Silverlakes Brand Village, with approximately 300,000 sq ft of net lettable space at an estimated rate of between RM10 and RM20 per sq ft.
“The hotel will have 220 rooms and the convention centre can house about 1,000 people,” he said at a media briefing to announce the collaboration.
Metier chief executive officer Darryll Ashworth, meanwhile, said retailers would be offering substantial discounts in a bid to be part of the development.
“It is part of the lease agreement for them to offer about 50% to 70% discount on their goods in order to rent an outlet,” he said.
Silverland Capital executive chairman Datuk Azizan Abdul Rahman, who is the majority shareholder, said the Silverlakes Brand Village project would not only spur tourism growth in Perak, but also provide economic growth and employment opportunities to the greater Kinta Valley population.
“We have the option of purchasing the land and have purchased more than 10% of the land from Maju Perak,” he said, adding that the location had a big catchment area, which includes potential visitors from Kuala Lumpur, Penang and the locals in Perak.
Shaik Rizal added that the development catered to a wide range of customers, including non-shoppers, as there would also be water sports activities and a 2ha Datuk Lat theme park in honour of the famous local cartoonist.
Metier, which has experience in creating and managing brand villages such as the Harbour Town Outlet Malls in Australia, has also managed other commercial retail outlets in China, Hong Kong and Singapore.
More: http://www.starproperty.my/index.php...kinta-project/