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CAPITAMALLS MALAYSIA TRUST
ANNUAL REPORT 2012 | 31
As at Q3 2012, overall occupancy for retail
space in Malaysia is estimated at 78.8% by
JPPH. For shopping centres alone, JPPH
estimates nationwide occupancy to be 75.9%,
while that for Kuala Lumpur is 82.3%, Selangor
is 76.0%, Penang is 68.0% and Pahang is
78.7%. CBRE Research shows prime shopping
complexes in Selangor and Kuala Lumpur enjoy
close to full occupancy. A number of
international retailers were seen expanding their
retail spaces in Kuala Lumpur and Selangor.
2012 saw a shopping centre open in Kuala
Lumpur and two significant shopping centres in
Selangor. The new completion in Kuala Lumpur
was One Shamelin located at Shamelin Perkasa
with 420,000 sq ft spread over nine floors. The
mall’s offerings include fashion and beauty as
well as IT and lifestyle products. New significant
shopping centres which opened in 2012 in
Selangor included Setia City Mall (740,000 sq ft)
and Paradigm Mall (680,000 sq ft). Both are
located in highly populated suburbs and opened
with strong occupancy rates of over 90%.
A number of new significant shopping malls in
the pipeline in Kuala Lumpur and Selangor
include Nu Sentral (650,000 sq ft in 2013),
Cheras Sentral Shopping Mall (500,000 sq ft in
2013), Damansara City Mall (188,500 sq ft in
2014) and IOI City Mall (1,200,000 sq ft).
It is expected that approximately 5.20 million sq
ft and 7.58 million sq ft of new retail spaces will
be added to Kuala Lumpur and Selangor in
2013 - 2015, respectively.
Newly completed retail malls in Penang in 2012
include All Seasons Place (228,224 sq ft) where
Giant Hypermarket is one of its major tenants.
Other new retail developments expected to
come on-stream in Penang in 2013-2015
include Gurney Paragon Phase 2 (599,000 sq ft),
City Mall at Bayan City (300,000 sq ft) and
Penang Times Square Phase 3 (230,000 sq ft).
Other retail malls which are being planned
include Mall @ Southbay at Batu Maung
(1,000,000 sq ft), Mall @ Penang World City and
Suiwah Corporation & Qingjian Group Co Ltd’s
Megamall.
The Star Mall (255,888 sq ft), mainly occupied
by the Pacific Department Store, is a newly
completed shopping complex in Mentakab,
Pahang. In Kuantan, no new retail complexes
were reported in 2012. Retail complexes in
Kuantan which are being planned include the
KIP Mart at Indera Mahkota (117,000 sq ft in
2015).
Future Supply of Retail Space in Shopping Centres in Selected States
Location
Future Shopping
Centre Stock
(‘000 sq ft)
2013-2015
Future Shopping Centre Supply
Kuala
Lumpur
+5,203
2013: Nu Sentral, Cheras Sentral Shopping Mall
2014: Damansara City Mall, Sunway Velocity Lifestyle Shopping Mall,
Pavilion Kuala Lumpur Mall Extension
2015: Boustead Retail @ Jalan Cochrane, Suria KLCC Extension (Lot
185, 167, K), Quill 15 @ Vision City, KL Eco City Retail Podium
Selangor
+7,584
2013: Strand Mall, M Square Shopping Centre, The Wharf Puchong,
D’Pulze Mall, Gateway@KLIA2
2014: Atria Shopping Gallery, IOI City Mall, Empire City Mall, Jaya
Shopping Centre, da:mén, Avenue Street Mall
2015: i-City Mall, Sunway Pyramid 3 Extension, Damansara Uptown Mall
Penang
+1,129
2013: Gurney Paragon Phase 2
2015: City Mall Bayan City, Penang Times Square Phase 3
Pahang
+117
2015: Kip Mart Indera Mahkota
Source: CBRE Research.