Pressure on retail outlets, incoming space may affect tenancy and rates

PETALING JAYA: Incoming supply of retail space into the Malaysian property market this year is expected to create pressure on existing outlets looking to maintain their tenancy and rental rates.

According to property consultant CH Williams Talhar & Wong Sdn Bhd, retail space is expected to increase by 6.4 million sq ft this year. “This is expected to mount significant pressure on existing shopping centres to keep tenants,” it said in its 2014 property market report.