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SStwo Mall to reopen as a medical centre next year
The mall in Petaling Jaya which stopped its operations in 2015 will get a new lease of life following the signing of the term to purchase by LifeCare Property (SS2) Sdn Bhd. The SStwo will soon reopen its door as medical centre with Life Care Diagnostics Medical Centre as its new tenant.
The mall has a gross floor area of 700,000 sq ft and a net lettable area of 460,000 sq ft. It was built in 2010 on 3.16ha of land in the affluent SS2 neighbourhood for RM180 million.
SStwo Mall stopped its operations in 2015.
Background of SStwo Mall
However, the mall had to shut down less than four-and-a-half years later due to poor performance. In fact, the mall had accumulated losses close to RM188.73 million and had liabilities of RM162.87 million when the 2015 financial year ended. As a result, the original developer and owner of SStwo Mall, AsiaMalls Sdn Bhd sold the property to Puchong-based DK Group three years later. At that time, DK Group paid approximately RM180 million for the building in 2018. The amount paid was much lower than the RM200 million to RM250 million sought by AsiaMalls.
Following the purchase by DK Group, earlier reports had said that a new service apartment would be constructed and the mall may be partially demolished.
SStwo Mall permanently closed in March 2015 due to poor performance after operating for only 4½ years.
Background of DK Group
Danny Koek Tiang Kung founded DK Group. Recently, the group has expanded into motor vehicle leather upholstery products through DK Leather Corp Bhd. Besides that, DK-MY Properties was established in 2004 and it embarked on its first property development called DK Senza in 2010.
Signing between Diagnostic Medical Centre Sdn Bhd and DK-MY Properties Sdn Bhd.
On 9th October, Dr. Ong Kee Liang, Managing Director of LifeCare Diagnostic Medical Centre Sdn Bhd and Mr. Danny Koek, Managing Director of DK-MY Properties Sdn Bhd. organized a signing ceremony to officiate the term to purchase.
The term signing ceremony between DK-MY Properties Sdn Bhd & LifeCare Property (SS2) Sdn Bhd marks a new milestone for both companies.
Malaysia’s first one-stop healthcare lifestyle mall
DK Group of Companies will also sign a memorandum of understanding with the tenant (LifeCare Diagnostic Medical Centre Sdn Bhd) next Tuesday (13th October) to transform and rename the mall into LifeCare DK Mall, which will be revitalized into Malaysia’s first one-stop healthcare lifestyle mall. For the upcoming mall, revitalization and refurbishment processes are currently underway.
The new lifestyle mall will open by mid-2021 with a 20-bedded Urology and Nephrology Hospital, operating theatres, a rehabilitation and physiotherapy facility, an aged care facility and an advanced diagnostic imaging department. Furthermore, it aims to provide everyone with professional and affordable medical solutions
Moreover, the one-stop healthcare lifestyle mall will also look for vendors that sell consumers complementary goods and services to occupy retail lots within the mall. Apart from that, Mr. Danny Koek also revealed he plans to unveil two new residential blocks next year that offers independent living, assisted living. And memory care in conjunction with the launch of LifeCare DK Mall.
Currently, Life Care Diagnostics operates in Bangsar South, Kuala Lumpur that offers a wide range of medical consultation services.
Dr. Ong Kee Liang said that the LifeCare Diagnostic Medical Centre is working hard to evolve and steer the health care facilities in Malaysia to be the destination for both local and foreign visitors seeking medical treatments.
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SStwo Mall to be transformed into a medical centre, opening next year
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