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Steady income seen from convention centre
May 27, 2014 | The Star Online | http://www.thestar.com.my/Business/...27/Steady-income-seen-from-convention-centre/

SHAH ALAM: Kasmuncak Holdings Sdn Bhd, the developer of a RM200mil convention centre in Shah Alam, expects the project to generate steady income of RM30mil a year for the company.

The project, known as IDCC Shah Alam, is expected to be the largest one-stop home decor centre in the area.

“We already have our line-up of events and exhibitions from this year-end till mid-2015. These include property, education, wedding and baby fairs,” director Lee Hing Lee told StarBiz, adding that the management was in talks with event organisers about series booking.

“There is a demand because the area is deprived of event venues. At the moment, the residents here have no choice but to travel to Kuala Lumpur. And Kuala Lumpur is already quite saturated or sometimes face shortage of exhibition space.”

The nearest comparison for IDCC is the Shah Alam Convention Centre which has three exhibition halls.

Lee said the management was open to hosting concerts as well.

The seven-storey building comprises three lower floors of retail outlets that make up a home decor mall, five floors of a 2,167-bay carpark, and a 11-hall convention centre at the top.

The hall, without partitions, measures 93,355 sq ft.

The convention centre in its entirety can seat 8,000 pax for dinner functions or 10,000 pax in a theatre-seating arrangement.

Sandwiching the three components are a 206-room business class hotel and a 15-storey office tower.

“We want the mall to be focused on home furnishing products; that’s what IDCC stands for – interior design convention centre,” Lee added.

The retail portion, with outlets measuring between 264 sq ft and 8,777 sq ft, will house retail and wholesale shops. It is already 70% taken up.

Rental for the retail outlets are an average of RM5 per sq ft. “It’s nowhere near the city rates and we’re competitive in that we are the only large convention centre in Shah Alam,” Lee said.

He said the hotel Kasmuncak is bringing in will be an Australian name but he did not reveal the hotel operator.

As for its office tower, the company is in the midst of looking for tenants. Each floor measures 7,000 sq ft.

Looking five years ahead, Lee said the company hoped to collaborate with Tourism Malaysia and other government agencies in Shah Alam to provide a venue for conferences and other events.
 
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