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Low Yat Group’s Paradise Fair Secured 50% Rental Despite Pandemic

Retails lifestyle hub, Paradise Fair located at Bandar Tasik Puteri recorded 50% of take up rate since its launch last year. Half of Paradise Fair,
Retails lifestyle hub, Paradise Fair located at Bandar Tasik Puteri recorded 50% of take up rate since its launch last year.

Half of Paradise Fair, Low Yat Group’s (LYG) retail lifestyle hub in Bandar Tasik Puteri has been successfully leased to commercial tenants despite pandemic stricken economy in 2020.  The 8.06-acre lifestyle hub was opened for lease to retail brands in the grocery, fashion, food & beverage and lifestyle sectors in the middle of last year.

“To date, 50% of the retail units have been booked by well-established retail brands looking to expand their presence with the latest tenant being KFC.

Andrew Goh
“This came as no surprise given that these retailers have ongoing aggressive expansion plans and are always on the lookout for strategic locations to reach their intended customers and Bandar Tasik Puteri offers great opportunities with potential footfalls from customers who live and work within the township,” said Andrew Goh, LYG General Manager Area Property- Development/ Management.

According to Goh, LYG is expecting to attract some 200,000 people into Bandar Tasik Puteri come 2025 with its vibrant township that consists of residential and commercial development spanning across 2,670 acres. Residential developments within the township include Garden Heights, Acacia Park, ParkHomes and Seiring Residence. Properties at the 11.86 acres ParkHomes have been fully sold out since its launch during the first MCO last year.

To date, over 70,000 residents have moved into Bandar Tasik Puteri. Paradise Fair, 2-storey street-level retail will serve the daily shopping and recreational needs of these residents and commuters. The building has been architecturally designed to ensure every retail lot is easily visible and accessible to customers.

On leasing a property at Paradise Fair, KFC Malaysia Head of Brand Chandrasagran Munusamy said that the location fits KFC’s expansion plan given that the self-contained township, with the continuous development in Bandar Tasik Puteri, offers great potential in bringing continuous footfall to drive sustainable long term revenue for the restaurant.

KFC now opened a standalone drive thru branch in Bandar Tasik Puteri

As such, KFC has committed to lease a 4,758 sqft freestanding lot right next to Paradise Fair and the restaurant is open for business on the 1st Apr 2021.

“The standalone KFC restaurant with drive-thru facility will be able to cater for the residents and create more job opportunities in Bandar Tasik Puteri at any given time”, said Chandrasagran adding that KFC is looking forward to opening another 25 outlets by 2025.