Properties in Malaysia

Times Square is the largest shopping mall with first of its kind 3D theatre in Malaysia with 10-storey of shopping lots. Above it is the Berjaya Times Square hotel with about 610 rooms and serviced suites with the same layout as the hotel.

The following article is published by Property Times about Times Square:

Urban icon

Come October, Kuala Lumpur will have its very own “Times Square”, placing it in the league of other major cities such as New York, Hong Kong, Japan, Shanghai, and Taipei.

The Times Square developments in all these cities share one common identity - they promise the glitter and glamour of shopping, entertainment, amusement, food and luxury accommodation in one central location.

And this is the very essence of what the Berjaya Group aspires to create on its 12.7-acre site located at the Jalan Imbi-Jalan Pudu intersection in Kuala Lumpur’s central business district.

Shopping landmark
Grossing 2.1 million square feet of retail space anchored by two department stores and occupied by another 900 retail outlets, Berjaya Times Square in KL will connect the dots between the popular Bukit Bintang shopping area and the renowned “Chinatown” district in Petaling Street.

The development has the advantage of being directly linked to the Imbi station of the intra-city Monorail system via a fully covered corridor that leads out to its first floor. Meanwhile, the Hang Tuah Monorail station, which interfaces with the STAR-LRT line’s station on the same road, is a mere five-minute walk away.

Berjaya Times Square Sdn Bhd, the developer of Times Square, has to date pre-leased about 35 percent of the 370 retail lots it owns. This includes British department store Debenhams, which has signed up to occupy four levels in the shopping centre. Other confirmed tenants so far are international fast food chains such as McDonald’s, Kentucky Fried Chicken, Pizza Hut, Kenny Rogers Roasters, as well as an array of local eateries. These restaurants, cafes, bistros and bars will line Times Square’s Imbi Broadway, which has been designed to connect to Bintang Walk.

Perhaps the ultimate highlights Times Square intends to roll out are its IMAX 3D & 2D theatre which will be the first of its kind in Malaysia; a 380,000sq ft Indoor Theme Park (Asia’s largest); a 200,000sq ft Extreme Sports Arena; and a 56-lane bowling centre (again the largest in the country) with eight lanes reserved for hosting private parties.

The developer is counting on the centre’s location, concept, and most of all, its sheer size and variety of shopping and entertainment offerings in its quest to achieve the status of a shopping landmark comparable in standing to Times Square New York, Hong Kong, and Japan.

But the impact Times Square KL will have on the Malaysian community will probably be more far-reaching than this, just as Times Square in New York had on the city.

Revival
New York’s Times Square has successfully attracted high-credit tenants to Class A buildings, whether office, residential, hotel, or mixed-use. In the neighbourhood alone, there is 21 million square feet of office space with more than two million square feet under construction, and over 13,000 hotel rooms - one-fifth of the total in the city. There are also 27,000 residents and more than 250 restaurants.

The area is now a revival of what it once was in the early 20th century - the home of numerous theatres and stages. Today, there are 40 theatres in all, including 22 landmark Broadway theatres and the Ford Centre for the Performing Arts. In the 2000/2001 season alone, a record 11.9 million Broadway tickets were sold!

At one time a haven for prostitution and drug dealing, with streets lined by X-rated movie theatres and storefronts filled with pornographic ware, Times Square has now become a desirable locale for New Yorkers. Its bright lights continue to define its image and camera-toting tourists have replaced the former backdrop of prostitutes and drug dealers.

Perhaps, Times Square KL could in time contribute as substantially to KL’s renaissance as Times Square New York has done for the Big Apple.