News & Articles Bina Puri's unit completes drawdown of credit facility for The Main Place Mall
Bina Puri's unit completes drawdown of credit facility for The Main Place Mall
4 Nov 2024
KUALA LUMPUR: Bina Puri Holdings Bhd announced that its subsidiary, Sumbangan Lagenda Sdn Bhd has completed the drawdown of its RM73 million credit financing facility from MBSB Bhd.
Sumbangan Lagenda operates The Main Place Mall @ USJ 21, a shopping centre in Subang Jaya.
In a statement, Bina Puri said that the credit financing facility from MBSB significantly bolsters Sumbangan Lagenda's financial position, enabling it to not only meet its working capital requirements but also improve its offerings, attract new tenants to the mall, and deliver a better shopping experience.
The Main Place Mall is a family-orientated shopping complex that forms part of a mixed development that combines residential, leisure, retail, and F&B components.
It was originally an old and rundown property that was abandoned and left idle for about 16 years.
Bina Puri, via Sumbangan Lagenda, managed to revive the building through an ambitious redevelopment project that was completed in 2014.
Since then, The Main Place Mall has managed to achieve a tenancy rate of more than 90 percent with tenants like Jaya Grocer, Uniqlo, and Starbucks.
Spectrum International University College, one of The Main Place's tenants, recently expanded its space by nearly 20,000 square feet.
"We are confident that this positive momentum will continue to drive the sustainable growth of The Main Place Mall," Bina Puri said.
Sumbangan Lagenda operates The Main Place Mall @ USJ 21, a shopping centre in Subang Jaya.
In a statement, Bina Puri said that the credit financing facility from MBSB significantly bolsters Sumbangan Lagenda's financial position, enabling it to not only meet its working capital requirements but also improve its offerings, attract new tenants to the mall, and deliver a better shopping experience.
The Main Place Mall is a family-orientated shopping complex that forms part of a mixed development that combines residential, leisure, retail, and F&B components.
It was originally an old and rundown property that was abandoned and left idle for about 16 years.
Bina Puri, via Sumbangan Lagenda, managed to revive the building through an ambitious redevelopment project that was completed in 2014.
Since then, The Main Place Mall has managed to achieve a tenancy rate of more than 90 percent with tenants like Jaya Grocer, Uniqlo, and Starbucks.
Spectrum International University College, one of The Main Place's tenants, recently expanded its space by nearly 20,000 square feet.
"We are confident that this positive momentum will continue to drive the sustainable growth of The Main Place Mall," Bina Puri said.
Source: NST.com.my
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