KUALA LUMPUR: KIP Real Estate Investment Trust (KIP Reit) remains committed to carving out a niche in the retail market by strategically curating a balanced mix of tenants and retailers.
Recently, KIP Reit completed asset enhancement initiatives (AEI) for KIPMall Senawang in Negeri Sembilan.
Initiated in February 2024, these AEI efforts focused on modernizing retail and food & beverage outlets, upgrading the mall entrance, and more.
A key component of these enhancements was accommodating the mall's new anchor tenant, ST Rosyam.
Valerie Ong Pui Shan, KIP Reit's chief executive officer, expects this addition to significantly boost foot traffic, benefiting all the mall's tenants.
She emphasised that the company's aim is to position KIPMall Senawang as a one-stop shopping destination for medium-income and mass-market segments.
Ong believes that the wide range of retail options and the mall's transformation will greatly enhance the overall shopping experience for customers.
"This transformation of KIPMall Senawang strengthens our confidence in maintaining our high occupancy rates and driving further growth in net property income in the immediate future.
"This transformation fills us with optimism that we will achieve higher occupancy rates, ultimately leading to increased net property income in the immediate future," she added.