Asian Pac and KotaSAS plan RM281.3 million retail development in Kuantan
The proposed project will include KotaSAS’ first shopping mall and a lifestyle shoplot precinct near the upcoming ECRL station.
Asian Pac Holdings Bhd is joining KotaSAS Sdn Bhd on a proposed Kuantan retail and lifestyle project carrying an indicative gross development value (GDV) of RM281.3 million, the companies said in a statement.
The transaction involves Asian Pac subsidiary Everest Pioneer Sdn Bhd, which signed two agreements with KotaSAS covering a sale and purchase and joint development. KotaSAS is wholly owned by Tanah Makmur Bhd.
The development would be Asian Pac’s first project on the East Coast. Plans include the first shopping mall in KotaSAS and a lifestyle shoplot precinct, with potential future GDV of up to RM2 billion.
The site sits in KotaSAS’ Central Business District, a walk away from the upcoming KotaSAS East Coast Rail Link (ECRL) Station. The companies said the precinct is expected to provide jobs during construction and operations, as well as commercial space for businesses operating locally, regionally and nationally.
KotaSAS covers approximately 2,165 acres and has over 21,000 residents. The township also houses Pahang’s administrative centre, Pusat Pentadbiran Sultan Ahmad Shah.
