Penang's retail space glut worsens

GEORGE TOWN: Penang’s retail space glut is expected to worsen over the next five years when new malls and complexes add more than 7.6 million sq ft to the market. Eleven malls will be completed over the next five years.

Savills Malaysia managing director Allan Soo told StarBiz the current retail space per capita is 6.11 sq ft in the state compared with the island’s 9.58 sq ft.