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But some companies remain confident they can weather the storm
PETALING JAYA: IGB Bhd, which is known for its Mid Valley City development in Kuala Lumpur, said it has no property development project plan for this year in view of the continuous difficult and challenging market.
PETALING JAYA: The retail industry is expected to see more shopping centres embrace an omni-channel approach to business as competition within the sector intensifies.
IMAGINE having to pay RM150 for a seat at your local cinema, or even RM120. As it is seldom that you would watch a movie alone, be prepared to fork out RM240 to RM300 for a movie with your loved ones – girlfriends, wives or anyone you consider worthy of spending two intimate hours with at the Aurum Theatre in The Gardens Mall, next to Mid Valley Megamall.
PETALING JAYA: Shares of IGB Bhd, the developer of Mid Valley Megamall, touched a new all-time-high for the second consecutive day following the plan to dispose of its joint-venture (JV) firm in the United Kingdom.
PETALING JAYA: The local retail sector could see an integration of co-working spaces into malls within the city centre, should occupancy rates continue to deteriorate.
Amid the generally soft sentiment in the property sector, one company that seems to be maneuvering its way through the storm with strategic corporate moves is IGB Bhd.
KUALA LUMPUR: Shares in IGB Bhd jumped over 18% in early trade Friday on the establishment and listing of its IGB Commercial REIT on the Main Market of Bursa Malaysia Securities.
THE intensifying competition within the burgeoning retail property market will see more malls and shopping outlets diversifying their product offerings as they try to stay competitive and fight for survival.