Chow checking out the new retail outlet Snacks Busy at Island 88 Complex. — LIM BENG TATT/The Star
TWO years after undergoing major renovations and a rebranding exercise, Island 88 Complex in Tanjung Tokong, Penang, remains only slightly more than half occupied.
The new owners from Hong Kong are working towards turning the premises, formerly known as Island Plaza, into a hot retailing and “foodie” environment on an international scale.
The mall’s managing director Philip Law said only about 60% of the total lots had been taken up currently.
“We aim to achieve an 80% occupancy rate by the end of this year,” he said.
He highlighted that efforts to attract visitors included promotional campaigns and advertising upcoming events.
“We have designated empty spaces for events to help draw in crowds.
“Many of our tenants’ promotions are displayed on a giant LED board at the main entrance, making them highly visible to passing traffic,” he said.
Island Plaza, established in 1995, was once a bustling hub for shopping, entertainment and social gatherings.
Law hopes that Island 88 complex will achieve 80% occupancy by year end.
In the early years, it was among the largest shopping complexes in Penang with 500,000sq ft space, second only to Komtar.
However, the emergence of newer and larger malls nearby in the 2000s brought stiff competition, leading to its decline.
After acquiring the mall, Law initiated extensive reconstruction and renovations in April 2023, and the mall was subsequently rebranded as Island 88.
A visit to the mall found the ground floor mostly occupied by businesses mainly selling food and beverages, while the upper floors remained relatively quiet.
There was brisk business at a supermarket on the lower ground floor.
A clothing boutique owner, who declined to be named, raised her concerns about slow business and hoped for an increase in visitors.
“Compared to the former Island Plaza, which had a cinema and numerous premium outlets, there is little variety now.
“Even on weekends, customer traffic remains low.
“But with the recent refurbishments, the place looks fresh and I hope people will return,” she said.
The latest addition to the mall is a snack shop – Snacks Busy – on the ground floor, offering a variety of Chinese snacks alongside a selection of local treats from Penang.
Penang Chief Minister Chow Kon Yeow, who launched the shop, commended the initiative to use food as a medium to connect the cultural resonance between Malaysia and China.
“From the perspective of economic benefits, it is expected to create over 150 jobs in the logistics, retail, digital marketing, and tourism sector,” he said.
The store’s chief executive officer Chuah Chun Lim said they planned to open 100 outlets across the country and expand its e-commerce reach within the next three to five years.
