|September 19th, 2007, 06:23 AM||#1|
Join Date: Sep 2003
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Shopping malls see robust sales growth
Shopping malls see robust sales growth
By Vasantha Ganesan
September 19 2007
"Up until July 2007, shopping complexes said that sales of tenants within the mall have grown by 10 per cent and up to a maximum of 15 per cent," Malaysian Association for Shopping and Highrise Complex Management president Joyce Yap told Business Times.
"Achieving this growth for entire of 2007 should not be a problem given that sales are generally stronger towards the year-end," she added.
Shopping will be strong for the festive season beginning now for Hari Raya, Deepavali and until December for Christmas. In addition, there would be the school holiday shopping and back-to-school shopping activities in November and December.
According to Yap, previously, domestic spending accounted for between 75 per cent and 80 per cent of total sales while tourists made up the rest.
However, this year there seems a vibrant domestic spending trend. This is despite the increase in tourist arrivals, who generally spend three to four times more than a local shopper.
"There has been a five to 10 per cent improvement in in local patronage at the mall as well as in their spending power," Yap said.
|September 19th, 2007, 07:51 AM||#2|
Join Date: Sep 2003
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Shopping Threads of Malaysia
KL | Bukit Bintang >> http://www.skyscrapercity.com/showthread.php?t=232186
KL | BERJAYA TIMES SQUARE >> http://www.skyscrapercity.com/showth...=61673&page=29
KL | STARHILL Centre >> http://www.skyscrapercity.com/showth...103099&page=17
KL | Suria KLCC >> http://www.skyscrapercity.com/showth...108358&page=18
KL | Avenue K >> http://www.skyscrapercity.com/showthread.php?t=333978
KL | PAVILION KL | U/C >> http://www.skyscrapercity.com/showth...=83812&page=56
KL | MIDVALLEY | U/C >> http://www.skyscrapercity.com/showth...436711&page=13
KL | CapSquare | U/C >> http://www.skyscrapercity.com/showth...=96937&page=20
PETALING JAYA | Sunway Pyramid | U/C >> http://www.skyscrapercity.com/showth...=177649&page=5
PENANG | PENANG TIMES SQUARE | U/C >> http://www.skyscrapercity.com/showth...128237&page=10
PENANG | Gurney Paragon | U/C >> http://www.skyscrapercity.com/showth...=299684&page=6
KK | 1 Borneo | U/C >> http://www.skyscrapercity.com/showth...=484091&page=3
KK | KK Times Square | U/C >> http://www.skyscrapercity.com/showth...=487415&page=3
KUCHING | The Spring | U/C >> http://www.skyscrapercity.com/showthread.php?t=487412
KUCHING | Boulevard Shopping Mall | U/C >> http://www.skyscrapercity.com/showthread.php?t=493228
SANDAKAN | Sandakan Harbour Square | U/C >> http://www.skyscrapercity.com/showthread.php?t=484090
PETALING JAYA | One Utama, Damansara Mutiara n Damansara Perdana >> http://www.skyscrapercity.com/showth...276945&page=11
PUTRAJAYA | ALAMANDA MALL, Putrajaya >> http://www.skyscrapercity.com/showth...=104824&page=6
MELAKA | DATARAN PAHLAWAN >> http://www.skyscrapercity.com/showth...185370&page=15
PENANG | QUEENSBAY >> http://www.skyscrapercity.com/showth...=258103&page=9
|September 19th, 2007, 04:30 PM||#4|
Join Date: Nov 2005
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|September 21st, 2007, 08:50 AM||#5|
Join Date: Dec 2005
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MAD ABOUT MALLS
by Diana Chin
IT was not a minute too late or too soon when the Pavilion Kuala Lumpur on Jalan Bukit Bintang opened its doors for the first time yesterday. At 10am sharp, the ribbon was cut and hundreds of invited guests entered the mall for the first time through its Bukit Bintang entrance. Prior to the “soft launch”opening, the mall had held sneak previews into the 7-storey high-end shopping centre with a net lettable area (NLA) of 1.37 million sq ft. It expects to woo shoppers by introducing some brands never seen before in Malaysia.Its main targets are cosmopolites, urbanites, professionals and tourists. The Pavilion crowd will want to see and be seen, says John Sironic, director of centre management, Kuala Lumpur Pavilion Sdn Bhd.
Part of a mixed-use development comprising a 368-unit residence, a 19-storey office tower, and a luxury 180-room boutique hotel, the mall, a “timeless” design,features Spanish steps and a translucent skylight allowing natural sunlight to brighten the concourse area. The entire development has a gross development value (GDV) of RM3 billion.
From its architectural design to varied offerings in fashion, F&B and urban leisure options, Pavilion KL’s opening seems perfectly timed for the run-up to the festive and holiday season. Hari Raya Puasa is in mid-October, followed by Deepavali in November, and Christmas and the school holidays in December.
However, Pavilion KL is not the only new offering wanting a bite of the Klang Valley’s growing retail pie. By the end of this month, 3.02 million sq ft of space will be added to the Klang Valley’s retail scene. This includes Pavilion KL, Mid Valley City’s The Gardens Galleria (to open Sept 26) and Sunway Pyramid’s extension (to open Sept 30).
According to the National Property Information Centre’s latest stock report, as at 1Q2007, the country’s retail space (comprising shopping centres, arcades and hypermarkets) total 87.2 million sq ft, with Kuala Lumpur dominating supply at 23.7% followed by Selangor at 23.2%, while future supply (incoming supply plus planned supply) stands at 35.72 million sq ft.Against a backdrop of this explosive growth of space, how are the new malls going to lure shoppers? Propertyplus looks at what the new players have to offer.
Unique shopping experience
Pavilion KL will boast street-front duplexes – a first in the Malaysian shopping centre scene. Its vision is to bring the shopping experience of world-famous Ginza, New York and Milan to our doorstep. The street-front duplexes will house designer brands like Aigner, Coach, Ermenegildo Zegna, Hermes, Hugo Boss and Versace, to name a few.
Meanwhile, The Gardens Galleria is going green. The 4-storey retail podium with 800,000 sq ft of NLA is set to offer shoppers what it calls a “seamless, rewarding experience in a refined and natural environment”. It features a rooftop garden, over 200 fashion specialty shops and a range of gourmet foods served from kiosks, cafes and restaurants. It is the first component of Mid Valley City’s five-star development called The Gardens, which will include two office towers and the five-star Gardens Hotel and Residences. The entire development has a GDV of RM1.5 billion. Developed by Mid Valley City Gardens Sdn Bhd, a wholly owned subsidiary of IGB Corp, The Gardens’ architecture is inspired by concept designer Eric Khune’s interpretations of local arts and crafts, materiality and colour, and flora and fauna.
In Bandar Sunway, shoppers can expect a 360-degree makeover when the “new wing” opens. “We would like to be known as just Sunway Pyramid, not the new wing and old wing as the extension will be seamless,” says Sunway City’s managing director for property investment Ngeow Voon Yean. The extension will see a combined 1.7 million sq ft of NLA, allowing the developer to further improve its tenant mix. From one atrium, it will now have three – the pyramid and two domes, plus a 1km-long alfresco dining area encircling the fringe of the entire mall. The extension has a GDV of RM550 million.
Retail concept and mix
Robinsons of Singapore and Isetan of Japan will anchor the upmarket fashion-focused Gardens Galleria. Exclusive international fashion labels from the Melium Group, The Link, FJ Benjamin and Royal Sporting House will be available, including some of the current favourites like Coach, Hugo Boss, Aigner, Banana Republic, Ted Baker and Massimo Dutti. Only the first three floors will be opened initially. This will include the Fashion Galley featuring international brands; the lifestyle floor to complement the fashion-based shopping experience, providing fine dining, bookstores, art galleries, sports boutiques and lifestyle hi-tech entertainment equipment; and the International Market Hall. This will offer a smorgasbord of products from around the world and will be made available to patrons with an international appetite. The fourth floor Cocoon, dedicated to rejuvenation, will open later.
Over at Pavilion KL, its attraction will be the introduction of first-time brands in Malaysia like Joan & David, Kiehl’s, LIULIGONGFANG, Mandarina Duck,
Okaidi & Obaibi, Reiss, Shanghai Tang and Thomas Pink. The new brands will make up 20% of Pavilion KL’s retail outlets.
“The anchor tenant will be Parkson at Pavilion, representing Parkson’s upmarket rebranding retail concept. Specialty tenants include Tangs which selected Pavilion KL for its comeback into Malaysia; True Fitness; Golden Screen Cinemas; Times The Bookshop and Red Box Plus,” shares Joyce Yap, director of leasing & marketing adding that most tenants have selected Pavilion KL as their regional flagship store or new retail concept outlet.
It has also introduced themed retail areas, which consist of six different precincts: Couture, Gourmet Emporium, Connection, Bintang Circle, Home and Seventh Heaven. Currently, 70% of the leased outlets are open with the remaining to follow within the next three months.
While the two new malls are promoting some upmarket brands, Sunway Pyramid will be adding Jusco as one of its anchor tenants. The retail giant will take up 250,000 sq ft while current retailer Parkson has relocated to the other end taking up 150,000 sq ft with Giant occupying another 50,000 sq ft, operating as the supermarket. Ngeow does not see Sunway Pyramid in the same league as The Gardens Galleria and Pavilion KL. Instead, he sees Sunway Pyramid as a 2-in-1 shopping centre, a mall that offers extensive shopping and dining. The developer has landscaped the areas outside the mall to enhance its alfresco dining experience. The dining area called the Oasis Boulevard will encircle the fringe of the entire mall and will take up approximately 140,000 sq ft.
“Our F&B is a definite pull factor, coupled with leisure and entertainment facilities,” says Ngeow. This would be the ice skating rink and its cineplex, the 12-screen Tanjong Golden Village. The cinema’s capacity has been upped, following the extension.
Accessibility and parking
As the retail war heats up, survival means garnering a loyal following and to do this,some fundamentals must be adhered to. Apart from location and trade mix, one of the major issues with shopping centres today is traffic congestion and insufficient parking bays.Although it can be seen as a happy problem, mall owners know these issues need to be addressed.
“Although it will not be possible to eradicate this problem [traffic jams]
we have done all that is possible to help ease whatever congestion there is,” states Sunway Pyramid’s Ngeow. This means parking has also been increased to about 10,000 bays all around the integrated resort development. The carparks have also been upgraded to a computerised system that tells a driver exactly how many lots are available and where they are when one enters. Expecting to receive 2.5 million visitors a month, the developer has also spent RM40 million to upgrade the roads leading into the mall.
With less than a week before The Gardens Galleria opens, upgrading works are in progress around Mid Valley City with the hope that it will improve traffic flow. Mid Valley City enjoys 150,000 visitors a day or 4.5 million a month and contributes to half of IGB’s profits.The developer is spending about RM10 million to upgrade the car parks in the whole “city”.
For Pavilion KL, there will be multiple points to facilitate the ingress and egress of traffic, says Sironic. Entry points at street level also enable passers-by to literally walk in off the streets. In addition to this, a sky bridge is also being built linking Pavilion KL to the Kuala Lumpur Convention Centre. The mall is targeting an estimated 24 million visitors in 2008.
The Gardens Galleria at Mid Valley City will open Sept 26