FLASH NEWS ::: Come January 2015, Jakel Square will become a new attraction in Kuala Lumpur downtown. Jakel Square in Dang Wangi will encompass Jakel Mall Kuala Lumpur; a mix retail centre that will host Malaysias first LuLu Hypermarket amongst others; and a new Shariah-based Hotel block. Last year, Jakel Group, which is Malaysias prominent Bumiputera textile company, bought over the failed CapSquare Retail Centre/PIKOM Mall and two unbuilt corporate blocks known as North and South Tower from Bandar Raya Development Berhad for an estimated RM420 million. Specialising in batik, silk and fabric, Jakel Group will relocate its headquarter store on Jalan Bunus, off Jalan Masjid India to the new Jakel Mall. It will occupy approx. NLA 330,000 sq ft in the South Tower and will become the single largest textile departmental store in the world. LuLu Hypermarket which is Middle Easts most successful hypermarket operator will operate its first Malaysian outlet of about NLA 300,000 sq ft in collaboration with FELDA on one floor of the former retail complex, which is the Middle Block. Other tenants would include Food and Beverage and ICT outlets and there would not be any cineplex (TGV was previous tenant of CapSquare). Subsequently, a 10-storey 320-room Boutique Hotel with an additional 100,000 sq ft of retail space is currently being developed at the North Tower, and the hotel will become Kuala Lumpurs first fully Shariah-compliant hotel whereby there will be two swimming pools - one each for male and female. The hotel operator has not been finalised. Currently, Jakel Group operates 20 stores nationwide and employs close to 5,000 staffs nationwide. The Group plans to venture into property development in 2015 and amongst its biggest projects would be the Redevelopment of Kuala Lumpur Velodrome in Loke Yew/Cheras; a mixed development project in Mukim Setapak which would consist of six condominium blocks of 55-, 54-, 50-, 47-, 42- and 41-storeys as well as future property development projects in Wangsa Maju and Shah Alam.
Posted on: Mon, 29 Dec 2014 16:12:13 +0000