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CapitaLand Malaysia Mall Trust
Annual Report 2015
Independent Retail Market Overview
Future Supply of Retail Space in Shopping Centres in Selected States
Location
Future Shopping
Centre Stock
(‘000 sq ft)
1
2016-2018
Future Shopping Centre Supply
Kuala Lumpur
7,959
2016: Damansara City Mall, Sunway Velocity Lifestyle Shopping Mall,
KL Gateway Retail Podium, MyTOWN Shopping Centre,
KL Eco City Retail Podium
2017: Giant Setapak, Elite Pavilion, Four Seasons Place Retail Podium,
Suria KLCC Extension (Lot 185,167,K), TRX Lifestyle Quarter Mall,
EkoCheras, Kiara 163 Lifestyle Mall, Bangsar Trade Centre
2018: GM Robertson, Paradigm OUG
Selangor
10,862
2016: Sunway Pyramid Phase 3, Utropolis Marketplace, da:men,
AEON Mall Shah Alam, Empire City Mall, The Starling @ Damansara
Uptown, EVO Shopping Centre, M Square Shopping Centre, Melawati Mall,
Retail @ Pacific Star, GLO Damansara, Selayang Star City, Amerin Mall,
Bangi Mall, Centrus Mall, Galerie @ De Centrum
2017: Tropicana Gardens Mall, Central Plaza Mall, The Wharf Puchong,
Klang Gateway
2018: Kuala Lumpur International Outlet, Empire Remix
Penang
1,400
2016: Design Village
2017: Southbay Plaza
Pahang
1,155
2016: Genting Premium Outlets
2017: KIP Mart Indera Mahkota, Complex KWRC (Phase 1), Family Mall
Star Avenue Lifestyle Mall, Evolve Concept, M3 Mall
and the Mitsui Outlet Park. The long-awaited IKEA
Cheras – 20% larger than the IKEA Damansara which
is located within suburban Kuala Lumpur was officially
opened in November 2015. Atria Shopping Gallery
in Damansara Jaya and Sunway Putra Mall (formerly
known as The Mall) in Kuala Lumpur have undergone
rejuvenation and re-opened in May 2015. IOI City Mall,
Putrajaya, the largest shopping mall in the southern
part of Kuala Lumpur opened in December 2014
and is performing above expectations with a 92%
occupancy rate.
It is expected that approximately 7.9 million sq ft and
10.8 million sq ft of new retail space will be added to
the respective existing stocks of Kuala Lumpur and
Selangor by 2018.
Major shopping malls in Greater Kuala Lumpur that
are in the pipeline for 2016 include the Empire City Mall
(1,800,000 sq ft), Sunway Velocity Lifestyle Shopping
Mall (1,000,000 sq ft), MyTOWN Shopping Centre
(1,100,000 sq ft), Melawati Mall (620,000 sq ft), da:men
(420,920 sq ft), The Starling (400,000 sq ft) and KL
Eco City Retail Podium (300,000 sq ft). Notable major
shopping centres that are scheduled for completion
by 2017 in Greater Kuala Lumpur are the TRX Lifestyle
Quarter Mall (1,200,000 sq ft), Tropicana Gardens Mall
(1,000,000 sq ft), Central Plaza Mall (1,000,000 sq ft),
EkoCheras (680,000 sq ft), Elite Pavilion (429,000 sq ft)
and Bangsar Trade Centre (230,000 sq ft). Paradigm
OUG by WCT Group (1,500,000 sq ft) and Empire
Remix by Mammoth Empire Group (600,000 sq ft) is
scheduled for completion in 2018.
The most recently completed malls in Penang is
the Mydin Mall Bukit Mertajam (536,507 sq ft) and
M Mall O2O (350,000 sq f t) which opened in
November 2015 and December 2015 respectively.
Perda City Mall (formerly known as AEON Seberang
Perai City) was opened just in time to welcome the
2015 Chinese New Year. There are seven shopping
malls expected to be added to Penang’s existing retail
market. To date, Design Village at Bandar Cassia and
the Southbay Plaza are scheduled for completion by
2016 and 2017 respectively, whilst City Mall Bayan
City, Suiwah Corporations’ Megamall, IKEA and
The Light Waterfront are in the planning stages.
In Pahang, no new retail complexes were reported in
2014 and 2015. The retail complexes in Kuantan which
are expected to be completed in the next two years
include the Genting Premium Outlets (334,763 sq ft)
by end 2016, and KIP Mart Indera Mahkota (117,000
sq ft), Family Mall (471,286 sq ft), and Complex KWRC
Phase 1 (232,370 sq ft) in 2017.
Note:
1
Shopping centre stock indicates the net lettable area (NLA) of malls.
Source: Savills Research.
