More competition: Savills report says that the best shopping malls will continue to perform well, and new malls will have to be distinctly conceptualised in order to compete in Greater KL’s retail market.
GIVEN the over-supply situation and other factors, including inflation and the goods and services tax (GST), the retail market is expected to be challenging in the last quarter of the year.
According to Savills Malaysia’s latest Asian Cities report, total retail stock in Greater KL stood at 53.9 million sq ft as of end-2014, spread across 155 malls that represented a year-on-year growth of 10%. This was the highest level of growth since 2011.
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