IKEA anchors mall to bring entertainment, dining and big-name retailers to Batu Kawan

PULAU PINANG,Malaysia,July 26,2019 -- We are pleased to announce that IKEA Southeast Asia is now readying to open the first phase of a shopping centre that will be linked directly to our blue-box home furnishing store in Northern Malaysia,bringing a vibrant new mix of retailers to Aspen Vision City.

The integrated retail component to IKEA Batu Kawan is part of the master plan for Aspen Vision City,a joint-venture of IKEA Southeast Asia and Aspen Group.

With around 20 units,this new retail destination aims to become the vibrant hub of the growing Batu Kawan township. The retail extension will open at the end of 2019 and today,85% of the space is already leased to tenants who will enhance the shopping experience of the IKEA store. Tenants include Sports Direct,Project Rock,7-Eleven and Harvey Norman. Taking up 50,000 square feet,Harvey Norman is bringing its concept of its superstore outside the Klang Valley for the first time.

"We are grateful for the relationships we have built with long-term partners like Harvey Norman. Together,we can live up to our mission of creating vibrant meeting places for the many people- going beyond just shopping," said Christian Rojkjaer,Managing Director of IKEA Southeast Asia.

In the region,five of our IKEA stores are anchors for shopping centres- a retail recipe that has been proven to attract millions of visitors,including some who drive hours for a great day out with family and friends. 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.

"We look for tenants that meet needs of the people in our community," explained Christian Olofsson,our Shopping Centre and Mixed-Use Director of IKEA Southeast Asia. "In the four months since we opened IKEA Batu Kawan,we have seen 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. We also see the opportunity for other leisure,entertainment and sporting retailers to serve the growing township of Batu Kawan,"

The integrated retail component to IKEA Batu Kawan is part of the master plan for Aspen Vision City,a joint-venture of IKEA Southeast Asia and Aspen Group. Our ambition is to develop a model state for smart living.

"IKEA is a major catalyst,attracting other businesses that want to be part of a modern and intelligent township of the future," said Dato' Murly Manokharan,President & Group CEO of Aspen Group.

"We want to create a convenient destination that is at the heart of a walkable community where people can work,shop,dine,study,and create positive memories together with their loved ones. Vervea,the commercial precinct with 3 and 4 storey shop offices in Aspen Vision City is now ready for business. We welcome the local retailers and corporate entities to join us. In the heart of Vervea also houses a 38,000 square feet trade centre called Vervea Trade & Exhibition Centre (VTEC) that comprises versatile event halls,function rooms,food preparation and service areas that can cater for large scale trade fairs and events. VTEC will be ready for occupancy by Q4 this year. Together,we can create a thriving community in the North."

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