Forty malls to enter the market in Greater Kuala Lumpur

The group bought Sunway Putra Place, which comprises a hotel and an office block, during a public auction in 2011 for RM522mil. Refurbishment of the office and hotel component is expected to be completed next year.

THE Sunway Group expects the retail sector to be “extremely competitive” with 40 malls anticipated to enter the market in Greater Kuala Lumpur by the year 2020.

Of this, a dozen of them will have net lettable area (NLA) of about one million sq ft and above, says Sunway Shopping Malls & Theme Parks CEO H. C. Chan, which is part of the larger Sunway group.