Gala City to stand out in local retail property market
KUCHING: The challenging local retail market will not be a problem for Gala City Integrated Development (Gala City) due to the developments unique positioning and complementary factors.
During a press conference at Gala City Sales office on Monday, Lee Chin Teck managing director of Gala City’s developer, San Chin-BBC JV Sdn Bhd (San Chin-BBC JV) said that they aim to overcome the tough local retail environment through unique positioning of its retailers.
“To be honest, the retail saturation situation in Kuching is still not too bad simply because Kuching is the capital of Sarawak so a lot of people from Sibu, Bintulu and Miri will still come over to invest here.
“Talking about retail, the environment is still very challenging now because e-commerce is so popular and has reduced the need for so many retail stores as more people are shopping online.
“This is why we are targeting to get more Food and Beverage (F&B), lifestyle and services retailers to come in instead.
“Services like massages, facials, saloons and entertainmentlifestyle providers like night clubs and bars – that is something that the internet can never replace,” he said when meeting reporters here.
Gala City’s main commercial development, a shophouse-mall hybrid – Gala Street Mall – is understood to embody this unique positioning as it is designed to be an ideal place for not only F&B, services and lifestyle retailers, but also for offices and showrooms.
Moreover, Lee added that Gala City’s commercial demand would be further sustained by complementary factors such as strong residential demand and the developments’ close proximity to public facilities.
“While it won’t be easy, the housing requirement in Kuching is still very strong so it should be no problem as this is still a growing town.
“As a 100 per cent integrated development that offers commercial, private dwellings, schools and potentially a hospital, demand for Gala City’s commercial and residential units will be there,” he said.
According to Lee, a proposal for a private hospital in Gala City development is coming in, but has not yet materialised.
Additionally, the development will also boast a 6-storey 190 room boutique hotel and two more rows of shop houses that will be constructed on the site of the existing SJK(C) Stampin school which is due to be relocated to a 1.2ha plot within Gala City by June.
The relocation of SJK( C) Stampin is expected to solve the issue of traffic congestion on Jalan Tun Jugah and enhance access to the integrated development.
At 90 per cent completed Gala City is expected to be ready for move in by June and its management will be holding a preview event of the development to public on February 1 at its shop house and mall hybrid – Gala Street Mall.
Themed ‘Satay and Beer’, the public open event will be a business matching event for landlords and prospective tenants for Gala City’s commercial areas.
Additionally, a mock up apartment will also be available for viewing for interested buyers. Prices for apartments are priced at RM500+ per sq ft.