Chow Kit Trade Center (CKTC) – set to be Chow Kit’s first major one-stop wholesale mall for cosmetic products, kitchenware and traditional Malay herbs – is the new 10-storey icon in the heart of Kuala Lumpur’s atmospheric localised area is touted to be one of its kind in the country.
A settlement boasting a rich heritage of history, CKTC – a freehold development by New Paradise Development under the umbrella of VINSOON Group – breathes a modern touch into the historic town of Chow Kit known for its rows and rows of long-established retail outlets specialising in wholesale goods; elevating the business of wholesaling to a level which allows wholesalers to experience their own unique and exclusive wholesale space at the distinctive one-stop wholesale mall.
Dato’ Michael Lim, Founder of VINSOON Group, said developing CKTC provides significant value not only to Chow Kit but also to wholesalers and investors of CKTC; nurturing Chow Kit to embrace the fast-paced financial and development movement that Kuala Lumpur is now experiencing to be on par with other fast-moving cities around the world.
“For many years, Chow Kit has served as a great area for the wholesale community including for leisure, due to its great location and varied wholesale products anyone can find in Chow Kit ranging from watches, custom jewelry, fashionable accessories, to household and kitchenwares, among others.
“Armed with a specialised knowledge of the Malaysian market through past projects, we developed an understanding of targeted wholesalers and investors, and truly achieved what we set out to do,” says Dato’ Michael at the launch recently.
Overwhelming response for this development echoed the strong demand for CKTC when the project was open to sellers in February 2017. With a net floor area of 34,650 square feet, 50% of the development is currently sold out by business investors and wholesalers bringing a range of products and stocks focusing on cosmetic products, kitchenware and traditional Malay herbs from China, Thailand, Korea, Indonesia and more to come in the coming months.
According to Dato’ Michael, after the launch of CKTC, it is foreseen that the whole development will be fully taken up by December 2017, with a Gross Development Value of RM156,828,030. The development will be completed by end of 2019.
“We have been eager to modernize the area of Chow Kit as we realised the full potential that Chow Kit can give to businesses and tourists alike. Yet, we still want to retain Chow Kit with its story of traditional Asian market as that is what Chow Kit has been known for decades and this cannot be found in any other markets, and this is what attracted both business and tourist to venture with CKTC.”
Chow Kit Trade Center serves as an attractive and convenient hub for those conducting businesses in the surrounding tourist areas as well as those working in buildings within the area, and considered to be the center district for nearby surrounding wholesale markets.
CKTC has certainly proved itself as the next big investment opportunity, as CKTC’s biggest tenant MK Curtain – Malaysia’s leading and biggest curtain showroom – has impressively occupied the whole 7th floor of the development, while key tenant Hypershoe, a member of Vinsoon Group occupied the entire 6th floor in the building.
With these integrated components, the CKTC development is well poised to becoming the next big thing and a major one-stop wholesaler for both investment and leisure opportunities in Kuala Lumpur.
CKTC comprises of 254 lots with built-up areas ranging from 52 to 181 square feet. Pricing starts from RM101, 400 to RM1, 411,800.