PENANG, Nov 3 (Bernama) -- 1st Avenue, a RM300 million highly anticipated city centre retail mall, is expected to open in Penang in the third quarter of next year.

The mall is jointly developed by three property and retail heavyweights, namely Asian Retail Mall II Limited (ARML II), Belleview Group and Lion Group.

Pramerica Real Estate Investors (Asia) Pte Ltd, the real estate management subsidiary of US-based Prudential Financial Inc, is jointly developing 1st Avenue via its Asian real estate fund AMRL II.

DTZ Debenham Tie Leung (M) Sdn Bhd's regional head of retail, Ungku Suseelawati Ungku Omar, said situated in the heart of Georgetown, 1st Avenue would feature seven levels of zoned shopping, providing about 400,000 square feet of retail space with 280 shops.

"The official launch which marked the start of the mall's leasing activities, also witnessed a signing ceremony with Parkson Department Store as 1st Avenue's anchor tenant," she said at a news conference before the mall was officially launched by Chief Minister Lim Guan Eng here today.

Ungku Suseelawati said the lower ground floor of the mall called "Chill" would feature outlets that cater to the young with its fashion and lifestyle offerings.

She said that "Style", occupying ground floor, would showcase high fashion clothes, accessories and beauty products, dotted with al-fresco cafes.

"One floor up on the first floor is 'Modish' featuring men's apparel, sports, gadgets, kidswear and toys," she added.

Ungku Suseelawati said "First Asia" on the second floor was designated to feature some of the best Asian lifestyles like Thai spas.

"The third floor will offer various beauty and wellness stores and shoppers can also enjoy good meals at various themed, casual and specialty restaurants," she said.

The supermarket and foodcourt will be located on the fourth floor and the mall will also have a cineplex and karaoke lounge.

1st Avenue Mall Sdn Bhd's director Datuk Sonny Ho said the collective expertise of Pramerica, Lion Group and Belleview Group would bring Penangites a new wave of shopping experience.