KUCHING: Naim Holdings Bhd (Naim) has launched the Phase 1 of its Bintulu Paragon integrated development, with property showcases held in Bintulu and Sibu from February 12 to 14, 2013.
To be developed in two phases and located at the Bintulu Old Airport site, Bintulu Paragon integrates residential, business, retail and hospitality components, and is a one-stop hub where owners can experience multifaceted lifestyle pursuits.
Upon completion, it will offer 1.4 million sq ft. of retail space, SOVO (Small Versatile Office) suites, office suites, condominium units, office towers and hotels.
Its deputy chief operating officer for Property, Leong Jee Van said, “Bintulu Paragon is the largest integrated development to impact Bintulu. It will change Bintulu’s skyline with the tallest condominium building, sleek office towers and iconic buildings. We are currently launching the street mall component first.”
He explained, “Think of street mall as something similar to a shopping mall but with cheaper entry cost for your investment. A typical shopping mall in Sarawak, Sabah, Penang or Johor may cost you RM1,500 to RM2,500 per sq ft, but our street mall starts from as low as RM898 per sq ft to RM1,123 per sq ft. So it’s quite affordably priced to provide buyers with good investment potential.”
Leong commented that street malls were good investment propositions.
“Just look at the well-known street malls such as the Giza, Curve and Pavillion in Peninsula Malaysia. For example, when Giza started, its price per block was approximately RM2.5 million and monthly rental was approximately RM14,000 to RM17,000 per block, depending on type. Now, each block can command approximately RM5 million and monthly rental of approximately RM16,000 to RM19,500 per month.
“It’s definitely worth some serious consideration”. Leong further remarked that the street mall was uniquely designed.
“Firstly, it is built to meet the CONQUAS (Construction Quality Assessment System) certification standard, an internationally accepted and recognised benchmark for construction quality. Each unit is 24 feet wide, which is larger than a normal shophouse unit in Sarawak.
“It’s also chicly designed, comprising trendy retail lots centred around an alfresco piazza, which is landscaped with water features. It has the largest covered car park, with more than 1,000 covered car park spaces and the longest covered walkway, which is approximately 1,000 feet in Sarawak.
“Most importantly, there is a comprehensive network of highly visible bridges and escalators to seamlessly connect each floor, making every floor as easily accessible as a ground floor,” he added.
He explained that business owners would be able to operate their businesses smoothly as the entire street mall was shaded. Patrons were also able to shop comfortably within a temperature-moderated environment, with cooling points available at strategic locations.
As the street mall was designed to capitalise on natural ventilation and as such, not air-conditioned, it was also environmentally friendly.
To ensure the comfort of business owners and patrons, the street mall is managed in consultation with a renowned property management consultancy from Singapore and is provided with 24 hours’ security.
The street mall is designed by an award winning Kuala Lumpur-based architect firm, SA Architects Sdn Bhd, which has designed many notable mall developments such as the Sunway Giza, Medini Lifestyle Mall, Sunway GEO and Cyberjaya Mall.
Among its awards are FIABCI Malaysia Property Award of Distinction, FIABCI Prix d’Excellence Award, BCI Asia, Asia Pacific Property Award, Malaysia Property Award and many more.
Its director, Low Mun Wai said, “Street malls are a popular feature in Kuala Lumpur as they create an exciting and lively place for shoppers. In short, its concept and ambience create a ‘destination’ that attracts the crowd. The gist of the concept for street malls lies in its alfresco concept, a chic outdoor concept. Street malls are the answer to Malaysia’s ‘love affair’ with alfresco dining and shopping.”
Low remarked that this type of concept worked particularly well for coastal areas like Bintulu.
“The street mall concept allows the capture of sea breezes and channelling of breezes through the mall with natural ventilation, providing a relaxed and constant breezy environment for patrons.”
Low added that Bintulu Paragon’s street mall would redefine dining and shopping experience in Sarawak, “We are creating a benchmark, not only for Bintulu, but also Sarawak.”