Genting Group's venture into the property sector can be traced from its primary
aim of holding land-based assets for long-term appreciation and development
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The first development project began at Genting Highlands Resort with the
development of the 83-unit Kayangan Apartments. The project was completely sold
out in 1979, the year of its launch. This was followed by the launch of the
428-unit Ria Apartments and the 320-unit Awana Condominium in 1984.
Wisma Genting is the Genting Group’s corporate office building
and is strategically located in the prime “Golden Triangle’ of Kuala Lumpur.
Developed by the Group, the 25-storey office building was completed in two
stages in 1985 and 1993. The building has a total net lettable area of 400,000
square feet and is conveniently situation next to the Raja Chulan monorail
station. It has attracted reputable corporations as tenants and maintained high
occupancy with premium rental rates since its opening.
Genting Property Sdn Bhd, a wholly owned subsidiary of Genting
Plantations, has development projects in the states of Johor, Kedah and Melaka
in Malaysia. Genting Indahpura in Johor is its flagship township development,
comprising commercial and residential properties. Other development projects
include Genting Pura Kencana in Batu Pahat, Johor; Genting Permaipura in Kedah
and Genting Cheng Perdana.
Johor Premium Outlets®
was officially opened on 1 December 2011. It is the first Premium Outlet Center®
in Malaysia and Southeast Asia, under a 50:50 joint venture between Genting
Plantations Group and Simon Property Group of the US. The centre is located at
the intersection of the North-South Expressway and Second Link Expressway and
highly accessible to all traffic going to and from Johor and Singapore. It is
about an hour’s drive from the City of Singapore, about 3 hours from Kuala
Lumpur and only a short distance from Senai International Airport. Johor Premium
Outlets is a collection of 130 designer and name brand outlet stores featuring
savings of 25% to 65% every day with a gross leasable area of 269,000 square
feet. Johor Premium Outlets was awarded the “Best Brand in Retail – Outlet
Shopping Destination” at the BrandLaureate BestBrands Award 2012-2013 (www.premiumoutlets.com.my).
Genting Highlands Premium Outlets®
will be the second Premium Outlet Center®
to open at mid-hill of Resorts World Genting and within Malaysia’s East Coast
Economic Region. It is target to open by the first quarter of 2017 with gross
leasable area of 275,000 square feet and will showcase 130 designer and name
brand outlet stores.