Meridian Bhd Launches Weekend Market
Meridian Bhd (Meridian) has announced that they will be turning the Malaysia Tourism City (MTC) in Kuala Linggi, Melaka, into a tourist shopping haven by hosting the Luasempit weekendmarket@MTC.
Luasempit weekendmarket@MTC will be Internet-of-Things (IoT) ready and primed to be the largest weekend market in the world, occupying 100acres of land with a 40-acre lake in the premise.
“In 2018, the average tourist arrival in Malaysia was 28 million, and 15 million for Melaka, of which an average of 1.5 million stayed overnight here in Melaka. With MTC, we target to increase another 2 million tourist arrivals, and another additional 1.5 Million overnight stay tourists in Melaka, thereby creating a multiplier effect on tourist receipt up to an additional RM5 billion per annum,” said Datuk Seth Yap, chief executive officer of Meridian Bhd.
The weekend market, together with the first Hasbro theme park and a branded adventure park will form the first phase of MTC’s 622.13 acres development based on mass tourism, medical tourism, edu-tourism and eco-tourism.
The project is planned to be developed over three phases, with the first phase planned for completion within the next three years.
“With the weekend market, we will be offering 3,000 stores of about 100sqft per outlet. Pricing for each outlet starts from RM2,500 a month. For that amount, you get a physical store with a footfall of 2 million tourists a year, and also access to our omnichannel of up to 20 online shopping platforms in the region, namely Thailand, Indonesia, Singapore, Vietnam and Philippines, not mentioning with the backend fulfilment provided,” said Yap.
“We have up to 40% who have registered their interest. But we are not looking to get 3,000 tenants as some will take more than one outlet,” he added.
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