Mara Inc was responding to a Business Times report on Busana@Menara Mara's vendors claims of poor marketing, high rental rate, subpar maintenance, and lack of upgrades hampering their sales.
The Mara Corporation Sdn Bhd (Mara Corp)'s subsidiary said the occupancy rate has improved significantly from 60 per cent in the same period last year, driven by high demand and an effective marketing strategy.
Currently 42 business lots have been rented out.
The company said it has taken proactive steps to formulate a more effective promotional strategy to promote its business premises where various promotional activities were carried out, aiming to attract more visitors to Busana@Menara Mara.
"This includes organising various interesting events and activities, including collaboration with government agencies, Mara's subsidiaries and private organizers."
"Among the activities are food festivals (Street Café), Grand Bazaar, Weekly Bazaar, Civil Agro Sales by the Federal Agricultural Marketing Authority (FAMA), Batik Festival and many more," Mara Inc said.
It said a free promotion space has also been provided to entrepreneurs to promote their products.
According to the company, the rental rates are competitive with the current market, and commensurate with the strategic location of the premises in the middle of Kuala Lumpur city.
"Compared to most of shopping centers, Busana@Menara Mara does not charge any marketing charges to entrepreneurs, as a measure to ease the burden and business costs of the tenants," "Marketing efforts are not only done conventionally but also involved the use of social media channels," it said.
Mara Inc also said that the rental rate of the premises is also renewed at a minimum rate of 5 to 10 per cent for every three years.
On building conditions, Mara Inc said it carries out regular maintenance, with high-cost upgrade works carried out in stages.
"Mara Inc is always committed to providing a conducive business environment, as well as supporting all entrepreneurs and its customers," it said.