The Star Paper - Business News on 6 Mac 2014
Nilai: Nilai 3 Wholesale Centre offers a lucrative business hub location for wholesale and retail market ventures. After taken root in 2001, the business hub quickly progressed to be 'The Biggest Wholesale Centre In Malaysia', as certified by the Malaysia Book of Records. Spreading over 171 hectares of land, the business hub attracts an approximate number of 150,000 visitors every weekend.
The success of Nilai 3 Wholesale Centre had driven SL Land Sdn Bhd to develop their own one-stop specialty mall, Sentral Bazar, to complement the existing business hub. While the development company itself may be new, the key persons behind it have over 20 years experience in their related field.
Its Director, Yeoh Thiam Soon, is among the pioneering businessmen in the wholesale and imported goods market at Nilai 3 Wholesale Centre. His experience has taught him the demands of local traders and buyers. The Project Director, Yeoh Thiam Leong, is also a recognised name in his field of property development, after his 25 years of service. His last position before starting SL Land Sdn Bhd company was the Vice President of MUI Properties Bhd.
"Nilai 3 Wholesale Centre started with only 10 shops in 2001, but it grew to having 600 occupied shop lots by 2005. It was moving in rapid pace and the place is in high demand, but it is not without faults. Many have complained about the lack of facilities and convenience to the visitors, especially in regards to the public restroom facilities, food and beverage outlets and resting area," explained Yeoh Thiam Leong.
From there, SL Land Sdn Bhd took note of the concerns and addressed the issues with Sentral Bazar. To further ensure the success of the development, the visionary brothers also visited several other wholesale centres including Platinum Mall and Asiatique Mall in Bangkok as part of their research. They paid heed to people's shopping behaviours and the way shopping mall's environment influences their shopping patterns.
The careful planning is evident is the building's master plan and layout. As seen onPropwall.my, Sentral Bazar is said to be an air-conditioned three-block building catering to shopping, dining and entertainment space. "Each retail lot has an approximate of 100 to 2,000 square feet built-up area. However, the traders can buy several units to merge them together as the lots incorporate the modular design type, not the static design," added Yeoh.
Unlike some other wholesale and retail outlets, Sentral Bazar does not maximise on the nett sellable area. "Maximizing on the net sellable area is not always a good plan. From our research, we have seen the importance of moving in comfort from one store to another. The ratio of the nett sellable area versus gross floor area is less than 50% in our development. We are willing to compromise some profits over jeopardising the comfort of the shoppers," said Yeoh.
Being a specialty mall, Sentral Bazar tries to meet the need of every visitors regardless whether they are ardent shoppers or not. Other than relaxing at the F&B outlets, the shoppers' companions can also revel in the entertainments provided. The mall intends to display augmented reality, a 4D theatre, 3D street art displays, mini amusement park rides and projection mapping. It is believed to be the first establishment to offer such service in the area.
Speaking to Aldrin Tan, the Managing Director of Esprit Estate Agent Sdn Bhd, he believes the concept of Sentral Bazar completes the missing puzzle of Nilai 3, of which Nilai 3 itself is already a recognisable largest wholesale centre in Malaysia.
Yeoh also expressed gratitude to Negeri Sembilan state authority for allowing theproject to commence. "They have been very supportive of Sentral Bazar. The process has been very smooth as they always welcome new possibilities to make Nilai a successful tourism centre. After all, Nilai 3 is only 20 km from Kuala Lumpur International Airport and 2 km from North-South Highway Nilai exit. Also in the works is a new interchange in Nilai Impian that can accommodate more traffic inflow."
Although Sentral Bazar is yet to be launched publicly, the take up rate during the soft launch has been very promising. "In less than two months, 90% of the units in Block A have been sold. The price started at RM128,888 per lot, but they are expected to rise soon," quipped Tan.
At the moment, the working progress of Sentral Bazar is according to plan. The estimated completion date for the freehold development is 2016.
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