30-year old mall overcome challenges to undergo the sustainable transformation
PETALING JAYA: Sunway Real Estate Investment Trust (Sunway REIT) ambitious transformation project in restoring the ageing 30-year old Sunway Putra Mall has been named the winner of the Retail Category in the FIABCI Malaysia Property Award 2017 recently.
Currently, in its 25th year, the award is widely touted as the Oscar award for property and real estate developments. It serves to honour Malaysia’s best developments in all aspects of their creation.
With this win, Sunway Malls had collectively clinched three FIABCI Malaysia Property Awards – Sunway Putra Mall (2017), Sunway Pyramid (2000 & 2010); making it the only mall group to achieve this distinction.
Sunway Malls currently manages five malls in its portfolio of which three are properties of Sunway REIT while the remaining two are housed under Sunway Bhd’s investment property division.
The award was presented by Negeri Sembilan Yang Di-Pertuan Besar Tuanku Muhriz Ibni Almarhum Tuanku Munawir and FIABCI Malaysia president Datuk Ab Aziz Tengku to Sunway REIT Management Sdn Bhd chief executive officer Datuk Jeffrey Ng at the gala dinner and award presentation ceremony in Kuala Lumpur.
From left; Sunway Malls COO Mr Kevin Tan, Datuk Jeffrey Ng, Phang Sau Lian & HC Chan.
The FIABCI Malaysia’s President highlighted the awards serve as guidance and inspiration for developers to continue undertaking more creative and innovative projects that would benefit the industry.
“The recognition is a testament of Sunway REIT’s endeavour in transforming a distressed asset into a local gem in Kuala Lumpur. The rejuvenation of Sunway Putra Mall has also created tremendous value creation to the community through infrastructure, connectivity and security enhancement, ” said Ng.
“We are extremely proud to have won this highly prestigious award. It recognises Sunway’s excellence in transforming and restoring an ageing mall into a modern one with sustainability in mind,” said Sunway Malls and Theme Parks chief executive officer HC Chan.
“It’s always been the intention of our Chairman Tan Sri Dato’ Seri Jeffrey Cheah that for any Sunway projects, the emphasis is given to progress not solely on profit but people and planet too. Hence, the relentless focus on going beyond. Sunway aspires to be Asia’s corporate model in sustainable development,” he added.
Despite the prevalent soft retail market, the mall had made progress chalking double growth in revenue and profit since it reopened. The mall is currently 95% occupied with a well-balanced mix of F&B, fashion, beauty and wellness, digital lifestyle and home furnishing offerings.
Sunway Putra Mall general manager Ms Phang Sau Lian attributed the success to on-going initiatives in refining tenant mix, creating captivating experiences and extensive brand-building effort.
“The journey has just begun for us. As today’s malls become an integral part of society, there is an expectation to provide a holistic offering encompassing retail, F&B, leisure, entertainment and services. It is a delicate balancing act,” said Phang.
This is the fifth award for the mall despite opening only two years ago.
Sunway Putra Mall had earlier clinched the Gold award from Kuala Lumpur Mayor’s Tourism Awards 2017.
