Mines 2 aims to rake in RM15m rental from new shopping mall
Posted on | September 27, 2010
By BUSINESS TIMES
MINES 2 Sdn Bhd, the owner of Mines 2, is aiming to rake in rentals of RM15 million a year from its new shopping mall that will start operations on October 15.
Its chairman Tan Sri Lee Kim Yew said with the “street mall” concept, Mines 2 offers unique shopping atmosphere with colourful light-emitting diode (LED) lights.
“We are the first shopping mall in the country to use 100 per cent LED in our operations,” he said.
The RM150 million 11-storey commercial building has 400 shops and kiosks.
The company aims to secure 90 per cent tenancy rate by June next year.
Lee was speaking to reporters after the signing ceremony between Mines 2 Sdn Bhd and Frontken Corp Bhd, a service provider of surface metamor-phosis engineering to set up the Frontken LED lighting technology in the mall, recently.
Also present was Frontken’s executive chairman and managing director Willie Wong.
“We aim to attract 10 to 12 per cent more visitors from the Mines Shopping Fair to shop here (Mines 2),” Lee said, noting that the Mines Shopping Fair has one million visitors a month.
Frontken’s new LED lighting technology adapts to the green environmental initiatives, reduces energy cost and offers brighter and higher efficiency.
Lee said LED lights save energy, promote sustainability, reduce environmental impact and improve the quality of the light.
“We have made an investment of RM5 million to use LED technology here and hope to recoup the investment in less than five years,” he said.
Lee said with Frontken’s LED technology, Mines2 is expected to reduce utility expenses by up to 40 per cent from the lighting and air-conditioning loads.
He added that in the future, Mines 2 will continue to cooperate with Frontken to build a car park equipped with LED lights with 2,000 capacity.
- Mines Shopping Mall News
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