Current Issue - Volume 34 — Jan 2024

Volume 34
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A fresh retail experience in Oil Town

The final instalment of the bustling Miri Times Square in Marina ParkCity is poised to perform positively, underpinned by a strong demand for ParkCity Group’s stellar brand.

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If the recent pandemic has taught us anything about ourselves, it is that we have an intrinsic need for human connection and tangible life experiences. From enjoying the gentle sea breeze at the beach to gathering with colleagues for after-work drinks and playing with our children at the playground – our senses longed for such stimulations during our isolations. And having felt what it was like to be deprived of these physical perceptions, we now appreciate them even more as the world moves towards endemicity.

At ParkCity Group, we have always keenly understood what makes us uniquely human, and what ultimately matters at the end of the day. Enshrined in ParkCity Group’s DNA are the core values of Family, Neighbourhood, Community, Connectivity and Convenience – the development ethos that has guided the group towards a successful track record as endorsed by the multiple awards earned by our townships and developments.

Epitomising these values is Miri Times Square in Marina ParkCity, which has elevated the commercial and retail scene in Sarawak’s second largest city with its brand of pedestrian-friendly, high-street shopping avenue.

Launched in 2013, the mixed development comprises several phases, each with its own distinct architecture and ambience – designed as focal points to commune, dine, shop and trade together.

Disrupting the status quo

The second quarter of 2023 will see the unveiling of the final phase of Miri Times Square.

Located strategically within the central business district and financial hub of Miri, the mixed development offers buyers and investors a new shopoffice concept within a vibrant integrated commercial development.

As seen in past launches, where Miri Times Square has redefined the concept of traditional shophouses with modern European-style arcade shopfronts and raised courtyards, the final phase will also disrupt the status quo. Modelled after the American strip mall, the development features motor court-fronting shops boasting double-volume space with mezzanine floors, thus allowing wider retail frontage and more footfalls around the block.

The development comprises 27 retail lots on the ground floor and four additional levels housing 220 SoHo (Small-office Home-office) units that are partially furnished. The built-up sizes for the retail shops range from 882 sq ft to 1,657 sq ft, while the SoHo units are available from 497 sq ft to 960 sq ft.

The five-storey development is served by four lift lobbies to provide smooth movements for all its occupiers and visitors. To keep away unwelcome intruders, each SoHo unit has its own proximity card under its advanced security access system, and is equipped with “Fibre to the Premises”, where optical fibre cables are linked directly to individual end-users’ premises to ensure seamless internet connectivity.

Leveraging a trusted brand

With an eclectic mix of banks, government agencies, corporate offices, pharmacies, eateries and clinics as neighbouring tenants in Miri Times Square, businesses at the final phase stand to benefit from a ready catchment of existing customers. Meanwhile, its SoHo residents are spoilt for choice in dining, retail and shopping options with all the conveniences readily available at the doorstep.

More than 2,000 bays are available at the multi-storey car park and motor court in Miri Times Square to ensure parking is accessible and convenient. As a further incentive, residents and business owners can visit the nearby 15.7-acre Miri Central Park to unwind and exercise in.

Miri-based property valuer Robert Ting believes the upcoming launch of the final phase will address the high demand for ground floor-retail shops and SoHo units.

Marina ParkCity, with its marina and beautiful views of both the Miri River and the South China Sea, is much desired, especially with the convenience of established amenities in Miri City Business District.

Ting, who is the managing director and partner of CH Williams Talhar Wong & Yeo Sdn Bhd, points out that the existing ground-floor shop units at Miri Times Square are almost fully occupied. The last phase, he says, stands to gain from Miri Times Square’s reputation as the preferred choice for investors, business operators and aspiring entrepreneurs.

“There is also an increasing interest by Miri locals for city living with greenery and parks. Marina ParkCity, with its marina and beautiful views of both the Miri River and the South China Sea, is much desired, especially with the convenience of established amenities in Miri City Business District,” says Ting.

“The ParkCity Group brand has always been perceived in the market as a trusted brand with good design and high-quality properties. This is evidenced from its past completed projects such as Marina Square 1 and 2, Miri Times Square, as well as Desa ParkCity in Kuala Lumpur. In medium- to long-term returns, ParkCity Group investors can expect fair and reasonable rental yields and capital appreciations for all its developments,” concludes Ting.