fbpx
Connect with us

Social Stories

Shopping Malls in Klang Valley are Slowly Dying, Here Are the Signs

Published

Shopping Malls In Klang Valley Are Slowly Dying, Here Are The Signs - World Of Buzz

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

If you live in the Klang Valley then you’d know how many malls there actually are. In the past 12 months, a few more new malls have already popped up – the Starling Mall, MyTOWN shopping centre which is located right by IKEA Cheras, Sunway Velocity Mall, and Taman Melawati mall.

So what are the signs that the malls are struggling to keep afloat? We break it down for you:

1. There’s already about 120 malls in greater Kuala Lumpur and yet, at least 10 more new ones are set to open soon

While there’s more than a handful of malls, it’s not stopping more new ones from popping up. For instance, Pavilion 2, which is situated in Bukit Jalil City is opening soon. This mall is also by the same guys that brought us KL’s Pavilion mall and features more than 2 million square feet of retail space! That’s a huge space!

Shopping Malls In Klang Valley Are Dying, Here Are The Signs - World Of Buzz
Source: Propchat

Other retail centres include The Exchange Mall, Mitsui Shopping Park Lalaport KL and also the extension of Suria KLCC.

 

2. Malaysian shoppers are consuming less

Shopping Malls In Klang Valley Are Dying, Here Are The Signs - World Of Buzz 1
Source: CNBC

According to MMO, a study by JLL showed that there’s a drop of 2.7 per cent in private consumption at the end of 2016 as opposed to the start of 2015.

Plus, ever since the implementation of GST in 2015, household consumption has not recovered back to the previous ‘healthy’ levels, although there’s a very slight improvement.

Among the many malls that are struggling, only a few premier malls are still going strong and were even able to raise their rental by 0.4 per cent year-on-year. These malls include, Mid Valley City Megamall, Suria KLCC, and Pavilion.

 

3. Malls in the suburban areas may have dropped their rentals by 0.7 per cent year-on-year

According to JLL, the daily footfall in suburban malls have dropped by up to 25 per cent! This includes weekends. This can also be attributed to the boom in e-commerce in Malaysia, where many choose to shop online. Online sellers don’t have to pay for rent, hence products sold are much cheaper too!

Shopping Malls In Klang Valley Are Dying, Here Are The Signs - World Of Buzz 2
Source: Shutterstock

 

4. The density of malls are increasing

With so many malls popping up, the growing density is causing malls to struggle. Some malls are located too close to each other. For instance, Avenue K is located across from Suria KLCC, while Atria Mall is close by Tropicana City Mall and only 5km away from The Starling.

Shopping Malls In Klang Valley Are Dying, Here Are The Signs - World Of Buzz 3
Source: Homefinder

Seems like these malls will only continue to struggle from here. We can only wait and see what the future holds for them.

 

Also read: Mara Digital Mall That’s Set Up After LowYat Incident is Reportedly Failing, Here’s Why

Mara Digital Mall In Kl Is Reportedly Failing, Here's Are The Possible Reasons Why - World Of Buzz 3


Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Collage 10 1 Collage 10 1
News8 hours ago

“We don’t want to be left out” Malaysia Aims To Reopen Borders To International Tourists In November

Just last week, former Prime Minister and the chairperson of Majilis Pemulihan Negara (MPN), Tan Sri Muhyiddin Yassin had announced...

My Post 2021 10 21T170528.497 My Post 2021 10 21T170528.497
News9 hours ago

MOH Will Be Increasing Enforcement At Food Premises To Ensure Smoking Ban Is Upheld

The Ministry of Health Malaysia (KKM) are standing their ground on the ban on smoking at eateries by increasing enforcement...

Video Nur Sajat Menangis Tangan Digari Cetus Pelbagai Spekulasi Murai My 5Ff6833Fa85Ae 628X437 1 628X385 1 Video Nur Sajat Menangis Tangan Digari Cetus Pelbagai Spekulasi Murai My 5Ff6833Fa85Ae 628X437 1 628X385 1
News10 hours ago

“He’s a man, so it’s ok” JAIS Officers Allegedly Groped & Assaulted Sajat During An Arrest In January

Last month, Sajat was arrested by Thailand immigration for possessing an invalid passport but was later released on bail. She...

Hospital Hospital
News10 hours ago

KJ: Hospital Admissions Due To Covid-19 On The Rise In Klang Valley & Sarawak

The Klang Valley has transitioned into Phase 4 of the National Recovery Plan (NRP) since 18 October and it has...

Bomba Ft 1 Bomba Ft 1
News14 hours ago

Abang BOMBA Passes Away After Attempting To Save Flood Victims In Melaka

A firefighter was rushed to the hospital after being swept by strong currents while rescuing flood victims in Kampung Sungai...

Ft Sejahtera Ft Sejahtera
News14 hours ago

M’sians Receive Spam Emails & OTP SMS From MySejahtera, MOH Says No User Data Compromised

After a recent slew of alleged data leaks involving millions of Malaysians and companies, all eyes are now on the...

Flood 1 Flood 1
News15 hours ago

Watch: Flash Floods In The Klang Valley & Several Other States After Heavy Rain On 20 October

The weather in Malaysia is always unpredictable. After almost a whole week of scorching weather, the rain poured all day...

Sinkhole Jalan Sri Hartamas 1 Sinkhole Jalan Sri Hartamas 1
News16 hours ago

Both Lanes On Jalan Sri Hartamas 1 in KL Closed Due To Large Sink Hole

The weather these days has been fluctuating a lot. Two weeks ago, it was very hot and humid without a...

Announcement

Latest Videos



TRENDING TODAY