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CapitaLand Malaysia Mall Trust
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
Occupancy Rates of Retail Stock in Malaysia (1H/2015)
State
Retail Stock
1
(sq ft)
Occupied Space
(sq ft)
Occupancy Rate
WP Kuala Lumpur
28,020,757
24,248,311
86.5%
WP Putrajaya
657,567
552,070
84.0%
WP Labuan
309,290
297,977
96.3%
Selangor
32,505,439
28,099,118
86.4%
Johor
17,876,287
13,708,731
76.7%
Penang
18,070,769
11,966,960
66.2%
Perak
8,754,689
7,932,811
90.6%
Negeri Sembilan
4,734,588
3,641,449
76.9%
Melaka
4,303,967
3,583,539
83.3%
Kedah
5,237,789
4,428,312
84.5%
Pahang
2,936,489
2,338,328
79.6%
Terengganu
1,242,133
888,937
71.6%
Kelantan
2,420,693
2,160,681
89.3%
Perlis
512,921
512,921
100.0%
Sabah
7,049,472
5,724,027
81.2%
Sarawak
7,331,981
5,894,333
80.4%
Malaysia
141,964,830
115,978,504
81.7%
Capital Values
In recent years, investment funds (including REITs)
have been on acquisition trails. The capital values and
yields/capitalisation rates have varied widely based on
shopping centre transactions in the past five years.
In general, capitalisation rates for shopping malls in
Malaysia have been compressed to around 6.0%.
Shopping Centre Ownership
In terms of ownership, the retail market in Malaysia
is extremely fragmented. The vast majority of retail
assets are independently owned (either the developer
or funds), with only a few larger national players having
portfolios of multiple assets.
Note:
1
Retail stock includes shopping centres, arcades and hypermarkets.
Source: Valuation and Property Services Department (JPPH), Ministry of Finance.
The overall occupancy for retail stock in Malaysia
increased from 81.1% in 1H/2014 to 81.7% in 1H/2015.
Savills Research’s findings show that prime shopping
centres in Greater Kuala Lumpur enjoy close to full
occupancy. Numerous international brands have
entered Malaysia and a number of them were seen
expanding their retail spaces in Kuala Lumpur and
Selangor.
