Retail in Asia

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CapitaMalls, Sime Darby plan USD163m mall in Kuala Lumpur

The property arm of Malaysian Sime Darby Bhd said on Wednesday it is partnering with Singapore-based CapitaMalls Asia Ltd to build a shopping mall with a development cost around MYR500 million (USD163.56m) in Kuala Lumpur.

The development will feature a shopping mall with a total net rent area of 635,000 square feet, situated in Kuala Lumpur, Sime Darby said. The project is due for completion in 2016.