Artist’s impression of the IKEA Integrated Retail Component at Aspen Vision City. (IKEA Southeast Asia)
PENANG (July 23): IKEA Southeast Asia plans to open the first phase of a shopping centre that will be linked directly to its IKEA Batu Kawan outlet by end-2019, bringing a new mix of retailers to Aspen Vision City in Batu Kawan here.
As of July 22, 85% of the retail extension space has been leased out. Among the tenants are Sports Direct, Project Rock and Harvey Norman. Taking up 50,000 sq ft, Harvey Norman is bringing its flagship superstore concept beyond the Klang Valley for the first time.
The retail extension, which comprise around 20 retail units, is part of the master plan for Aspen Vision City, a 245-acre freehold mixed development project in Bandar Cassia, Batu Kawan. With a gross development value of over RM13 billion, the project is a joint-venture between IKEA Southeast Asia and Aspen Group.
In Southeast Asia, five of the IKEA stores are anchors for shopping centres. The company believes that the business model is a retail recipe that could attract a mass crowd of visitors.
“In Penang, the first phase of our integrated shopping centre will offer a unique tenant mix to deliver something for everyone and provide a great base for many more partners to join in the coming years as we grow,” Managing Director of IKEA Southeast Asia Christian Rojkjaer said in a press release.
“In the four months since we opened IKEA Batu Kawan, we see that Penangites often visit on lunch breaks and during dinner time.
“So, we will focus on bringing in F&B outlets and convenient grab-and-go services,” Shopping Centre and Mixed-Use Director of IKEA Southeast Asia Christian Olofsson said
He also added that the company has seen opportunities for other leisure, entertainment and sporting retailers to serve the growing township of Batu Kawan.