An 11-storey upmarket shopping complex, being built on the plot of land next to Traders Hotel, will definitely add vigour and variety to the ‘ailing’ Kompleks Tun Abdul Razak (Komtar) upon completion.
Penang Local Government, Traffic Management and Environment Committee chairman Chow Kon Yeow said the ongoing project was scheduled for completion by October next year.
The project, which comes under Phase 3 of the Komtar masterplan, is a joint venture between Belleview Group and some partners including the Lion group and a US-based investment fund company.
Chow, who is also Tanjong MP, said piling works that commenced in October last year had been completed.
Construction on the basement car park is still ongoing while several floors of the building had already taken shape at the site.
“Once it is ready, the complex will definitely revitalise the inner city of George Town.
“After all, this project is long overdue and has been shelved for decades.
“The massive investment amounting to millions of ringgit shows that the investors still have confidence in the area,” he said.
Komtar assemblyman Ng Wei Aik said the new mall would be linked to the existing one in Komtar and Prangin Mall and would complement each other.
“We are positive that the new mall would attract new businessmen to Komtar.
“The state is currently looking into a new concept to turn George Town as a shopping zone where shoppers would shop at the three malls, and two others, namely the Penang Times Square and at the Gama Supermarket and Departmental Store,” he said.
The shopping mall, with a land area of 10,126sq m, would have a built-up space of more than 40,000 sq m.
It is learnt that the complex, to be named 1st Avenue Penang, will comprise a shopping centre, a cineplex, an amusement centre and retail outlets.
A soft launch for the project will be held at the road show in One World Hotel besides the One Utama shopping complex in Petaling Jaya today at 11am.
By TAN SIN CHOW and ANN TAN. Photos by K.E. OOI (The Star)