PAVILION BUKIT JALIL CROWNED WORLD’S BEST RETAIL CENTRE FOR 2024 AT FIABCI WORLD PRIX D’EXCELLENCE

The mall’s latest accolade sets a new global benchmark as a leader in sustainable and community-focused retail excellence.

KUALA LUMPUR, Malaysia, June 25, 2024 /PRNewswire/ — Pavilion Bukit Jalil, the iconic retail and lifestyle destination in Kuala Lumpur, was honoured as the World Gold Winner in the retail category at the FIABCI World Prix D’Excellence Awards 2024. The award presentation, recently held in Singapore, marked a significant milestone for Pavilion REIT as well as Malaysia’s retail industry.

The FIABCI World Prix D’Excellence Awards is renowned for its rigorous evaluation process and international prestige, recognising outstanding real estate projects that embody excellence in design, development, and sustainability. This year, the FIABCI International judging committee comprising over 60 judges from 35 countries, recognised Pavilion Bukit Jalil to be the World’s Best Retail Centre.

Dubbed the Icon Of Connectivity, the mall hosted a celebration that included multi-cultural performances for a delegation of global international FIABCI leaders from North America, Europe, Africa and Malaysia. Dr Yu Kee Su, a member of FIABCI International’s board of directors also graced the event alongside FIABCI USA President, Carla Kidd, FIABCI Italia President, Luca Bigliardi and FIABCI Malaysia President, Datuk Firdaus Musa.

Hosting the FIABCI World delegation and celebrations was Puan Sri Cindy Lim, Executive Chairman of Pavilion Group alongside members of the board.

The visit showcased the mall’s significance to the global retail sector and its appeal as an international must-visit destination.

Speaking at the event, Patrick Liau Kong Voon, Deputy Chief Executive Officer of Pavilion REIT Management Sdn Bhd said, “The award is a testament to Pavilion Bukit Jalil’s commitment to excellence in providing unparalleled retail experiences and setting gold standards in the retail industry”.

Pavilion Real Estate Investment Trust (Pavilion REIT), a prominent player in Malaysia’s real estate investment trust sector, proudly stands firm in its strategic investment in Pavilion Bukit Jalil, underscoring its mission to deliver sustainable growth and attractive returns to its stakeholders. Pavilion REIT Management Sdn Bhd is the Manager of Pavilion REIT.

With a lettable area that spans over 1.8 million square feet over five floors, the mall offers a curated mix of immersive retail experiences, a variety of dining options, dynamic entertainment, and lifestyle offerings that have captivated the hearts of millions of visitors.

“The strategic acquisition of Pavilion Bukit Jalil has been a significant addition the REIT’s portfolio, reflecting our commitment to investing in high-quality assets that meet the evolving needs of consumers,” Patrick said.

Patrick added that the mall is expected to achieve over 90% occupancy rate by the end of 2024, signalling resilience and robust confidence from retailers eager to establish a presence in this award-winning mall.

“The acquisition of Pavilion Bukit Jalil was indeed the right decision, adding another award-winning retail development to Pavilion REIT’s portfolio with Pavilion Kuala Lumpur also winning gold at the FIABCI World Prix D’Excellence Awards in 2009.”

“Pavilion REIT remains committed to excellence by acquiring high-quality, well-designed, and award-winning retail developments”, he said.

He also added that Pavilion Bukit Jalil’s tenants are expected to perform better as occupancies are now stable, which will allow the retail management team to focus on evolving the retail mix and accelerate further growth in retail trade, as well as improve the shopper experience.

Playing a crucial role in swaying the judges was Pavilion Bukit Jalil’s commitment to sustainability and to creating meaningful spaces for the community, which has created positive and multiplicative value,  contributing to the broader development of Malaysia’s retail landscape.

Patrick attributed Pavilion Bukit Jalil’s size, location, the neighbourhood’s growing catchment and international events hosted at the mall as contributing factors to the mall’s success. He also thanked Pavilion REIT’s stakeholders and credited the Qatar Investment Authority (QIA) for being a long-term partner and investor in Pavilion REIT’s vision.

Qatar Investment Authority (QIA) is one of the world’s leading investment authorities, long-term partner and investor in Pavilion REIT. As part of Pavilion REIT, Pavilion Bukit Jalil is a landmark in Malaysia’s retail landscape with its extensive range of best-in-class shopping, dining, and entertainment options. As Pavilion Bukit Jalil gears up to attract both local and international visitors, strategic investments underscore a significant boost to regional commerce and tourism, marking a pivotal step in Malaysia’s ongoing economic evolution.

“We will continue to harness our strengths, leverage our resources, and implement strategic actions, by working alongside our stakeholders to promote Malaysia’s retail industry on the world stage,” he said.

To celebrate winning the World Gold Award, Pavilion Bukit Jalil will be launching several highly experiential campaigns to engage and reward its loyal customers and business partners in the coming weeks.

About Pavilion REIT Malls
Pavilion Real Estate Investment Trust (‘Pavilion REIT’) is one of the largest retail concentrated REIT in Malaysia. Its assets include Pavilion Kuala Lumpur, Pavilion Eilte, Pavilion Bukit Jalil, Intermark Mall and Da Men Mall.

About Pavilion Bukit Jalil
Located in the heart of Bukit Jalil, Pavilion Bukit Jalil, the Icon of Connectivity – Malaysia’s lifestyle shopping mall sets to transform the southern corridor of Kuala Lumpur into the new cornerstone of metropolitan lifestyle and retail. With Net Lettable Area (NLA) of 1.8 million square feet, Pavilion Bukit Jalil will offer a vibrant retail mix, gastronomical wonders and innovative recreations, reinforcing its position as the lifestyle shopping destination connected to the best-in-class retail, dining and leisure experience.

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SOURCE MTrustee Bhd for Pavilion REIT