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CapitaLand Malaysia Mall Trust
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
Retail Supply and Demand
According to the Valuation and Property Services
Department, Ministry of Finance, Malaysia (JPPH),
the total retail stock, which includes shopping centres,
arcades, and hypermarkets, in Malaysia stands
at 145.0 million sq ft as of Q3 2015. Collectively,
contributions from Kuala Lumpur, Selangor, Penang,
and Pahang account for 58.1% of the total shopping
centre stock in the country.
Of the total stock, 72.3% is located within shopping
centres. Within Kuala Lumpur, 79.5% of all retail
space is derived from shopping centres, compared
with 70.7% in Selangor, 64.9% in Penang, and 93.8%
in Pahang.
Additionally, as at Q3/2015, JPPH estimates that
the total future retail stock totaling approximately
29.1 million sq ft of throughout the country. Upon
completion, the total retail stock will increase by 20.0%.
Based on the Q3/2015 stock data, the retail stock per
capita for the entire country is currently about 4.8 sq ft
per capita, which increased from 4.4 sq ft per capita
in 2014, while shopping centre stock per capita is
about 3.5 sq ft per capita, slightly higher than 2014’s
3.2 sq ft per capita.
Shopping Centre Stock in Malaysia as at Q3/2015
State
No. of
Properties
Total Space
(sq ft)
% of Total Space
in Malaysia
WP Kuala Lumpur
59
22,419,223
21.4%
WP Putrajaya
1
621,981
0.6%
WP Labuan
1
280,540
0.3%
Selangor
70
23,966,975
22.9%
Johor
58
11,536,091
11.0%
Penang
39
11,730,993
11.2%
Parek
37
5,846,143
5.6%
Negeri Sembilan
27
2,783,609
2.7%
Melaka
19
2,827,375
2.7%
Kedah
35
4,744,027
4.5%
Pahang
20
2,752,857
2.6%
Terengganu
9
723,894
0.7%
Kelantan
7
1,143,912
1.1%
Perlis
4
237,990
0.2%
Sabah
35
5,984,513
5.7%
Sarawak
53
7,144,496
6.8%
Malaysia
474
104,744,620
100.00%
Per Capita Retail Stock and Shopping Centre Stock in Malaysia and Selected States
Malaysia
Kuala
Lumpur
Selangor
Penang Pahang
Retail Stock (sq ft)
1
144,984,846 28,182,646 33,920,170 18,070,769 2,936,489
Shopping Centre Stock (sq ft)
1
104,744,620 22,419,223 23,966,975 11,730,993 2,752,857
Shopping Centre Stock as % of Retail Stock
72.3% 79.6% 70.7% 64.9% 93.8%
Retail Stock per capita (sq ft)
4.8
16.3
5.6
10.8
1.9
Shopping Centre Stock per capita (sq ft)
3.5
12.9
4.0
7.0
1.7
Source: Valuation and Property Services Department (JPPH), Ministry of Finance.
1
Data as at Q3/2015.
Source: Valuation and Property Services Department (JPPH), Ministry of Finance.
Savills Research’s findings show that prime shopping
complexes in Greater Kuala Lumpur enjoy close to full
occupancy. A number of international retailers were
seen expanding their retail space in Kuala Lumpur and
Selangor in 2015.
In 2015, six new shopping malls, two newly refurbished
malls and the second IKEA opened in the Greater Kuala
Lumpur, of which seven are located in Selangor and
two in suburban Kuala Lumpur. The new completions
are CentreStage @ Section 13, The Place @ One City,
