The project, a joint venture project between the Pavilion Group and Qatar Holdings LLC, sits on a 1.29-acre (0.52ha) parcel of land between Grand Millennium Hotel KL and Pavilion KL in the Bukit Bintang area.
It comprises a 10-floor retail podium with net lettable area of 250,000 sq ft, and a 50-storey serviced apartment tower.
The retail podium is targeted to open in November.
The mall will be managed by Kuala Lumpur Pavilion Sdn Bhd. Its chief executive officer (retail) Joyce Yap Soh Ching said the mall has managed to secure more than 85% occupancy rate, despite the challenging operating environment.
“This proves that the demand towards retail space in (the) prime area of Bukit Bintang is still promising,” she said.
When fully tenanted, Yap said Pavilion Elite will feature over 70 brands across its retail podium, with a retail mix of fashion (40%), food and beverages (30%) and urban leisure (30%).
“The opening of Pavilion Elite is set to add vibrancy, choice and variety to the industry, and will complement and enhance the total retail and lifestyle experience of Bukit Bintang,” she said.
“This would further transform it (Bukit Bintang) as one of the world’s top tourism destination,” she said.
Yap said the new mall will house Southeast Asia’s biggest stores, new concept stores and large format flagship stores.
“The project will indeed be a testament to retail experience in Bukit Bintang,” she added.
Among the tenants will be Collection of Style (COS) which is owned by Hennes & Mauritz AB (H&M), VLV Life, The Wallet Shop and Simmer Huang, which will open its first store in Malaysia.
Others include ABC Cooking Studio, The Planet Traveller (both the first and largest flagship store in Malaysia), and Coach (Southeast Asia flagship store).
On whether the parent company plans to inject Pavilion Elite into Pavilion Real Estate Investment Trust (REIT), Urusharta finance director Lee Whay Hoong said that would be up to the company’s shareholders.
“It would not be injected into the REIT anytime soon,” he added.
List of Announced Tenants (as of 5 August 2016):
1. Coach (relocation)
3. JD Sports
4. MNG Mango (relocation)
5. Muji (relocation)
6. ABC Cooking Studio
8. LEGO Store
9. Simmer Huang Chinese Food
10. The Planet Traveller
11. Toys "R" Us
13. VLV Life
14. Bonia (relocation)
15. BRIC'S Milano
16. Running Lab
17. Levi's (relocation)
18. Lorna Jane
20. MIDO Swiss Watches
21. Rimowa (relocation)
22. Samsonite (relocation)
23. TSL Jewellery (relocation)
24. Hair Quarters
26. Melur & Thyme
27. Brownies Bar
28. Acme Bar & Coffee
29. Dolly Dim Sum
30. Chatime (relocation)
31. J&D Espresso
33. Garrett Popcorn
35. Softsrve Ice-Cream & Dessert Bar
36. Simple Life Healthy Vegetarian Restaurant
37. V-Delight Vegetarian Restaurant
38. Haruyama Japanese Cuisine
39. Dip N Dip Chocolate
40. Mon Kee Confectionery
41. KFC (relocation)
42. Pizza Hut (relocation)
43. Nando's (relocation)
44. U Mobile