GCH Retail (Malaysia) Sdn Bhd, which operates the Giant, Guardian and Cold Storage outlets, has signed a 15-year tenancy deal with Naim Realty (Malaysia) Sdn Bhd to open its second hypermarket in Sarawak.
Naim Realty is a wholly-owned subsidiary of Naim Holdings Bhd.
The proposed Giant hypermarket located in Miri, will be completed by mid-July next year and is expected to create more than 200 jobs after it's opened.
"We have invested more than RM12 million in the Giant Permy Mall, a two-storey shopping mall with a gross floor area of 269,000 sq ft over 8.5 acres (3.44ha)," said GCH Retail chief operating officer Tom Herriott after the signing ceremony in Kuala Lumpur yesterday.
The event was witnessed by Miri City Council mayor Lawrence Y.S. Lai.
He said the hypermarket in Miri is the second after Sibu in Sarawak, which is slated to be operational by next year.
"We are also looking at building a third hypermarket in Kuching and are presently scouting for the right location," Herriott said.
The new hypermarket in Miri is located within Naim Realty's Bandar Baru Permyjaya development, which has a population of 50,000.
There are 121 Giant hypermarkets throughout Malaysia today.
By Business Times
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