Largest Shopping Malls in the World

[Ewan117]

Lol New South China Mall, its empty

Problem with Chinese Malls, if they're enclosed and all fancy, they're going to be expensive. I prefer, like someone has said before, the street style shopping. Chinese Malls are too 'for show' to be enjoyable, its literally only for the rich.

Malls in Malaysia are awesome, very affordable no matter where they are located. Of course their will be some money drainers, but there aren't many

[davidwsk]

Originally Posted by brick84

I always thought the biggest was the Dubai Mall ...

List of World's Largest Mall

http://en.wikipedia.org/wiki/List_of...s_in_the_world

[DBadger]

NSC shouldn't really count when it's 99% vacant!

[v.o.r.t.e.x]

Originally Posted by japanese001

日本では大型ショッピングモール建設は法律で禁止になりました。

great decision i think

[SydneyCity]

Why has Japan prohibited the construction of large shopping malls?

[patchay]

This is just a normal suburban mall (in a developing country) near my home, and according to Forbes' 20 largest Shopping Malls in the World (2012 Ranking based on Gross Leasable Area):




1 Utama Shopping Mall --> Largest in Malaysia, 2nd largest in Southeast Asia, 4th largest in the World
http://www.youtube.com/watch?v=PlQSJlqL23g
http://en.wikipedia.org/wiki/1_Utama


Due to rapid mall expansions, Malaysia now has 3 prominent malls in the top 10 largest shopping malls in the world. Greater KL is now home to close to 100 shopping malls (excluding standalone hypermarkets), but just under 2/3 are just ordinary neighborhood malls.

1 Utama, Petaling Jaya City, Greater Kuala Lumpur, Malaysia - 5.0 million sq ft (to be exanded) - 700+ tenants

Awards:
- The adjacent One World Hotel is Best Convention Hotel in Malaysia and Asia-Pacific at the 2012 Asia-Pacific Hotels Awards
- World's Best Shopping Mall at the Retail World Excellence Awards 2006/07







Major tenants out of 700+ are:
- AEON of Japan,
- Isetan of Japan,
- TANGS (Singapore),
- Parkson of Malaysia (also the largest departmental store brand in China),





- 13-screen Golden Screen Cinemas,
- 12-screen TGV Cinemas with IMAX (opening soon in Oct 2012),
- Cold Storage (Dairy Farm Group/Jardine Martheson),
- MPH Bookstore,
- Daiso of Japan,
- UNIQLO of Japan (2-storey),
- U-Bowl Bowling Centre,
- Celebrity Fitness gym,
- XZQT: The Executive Home Store (Singapore),
- Toys 'R' Us,
- Camp5 (Asia's largest indoor rock-climbing centre),



- Popular Bookstore (Singapore),
- Best DENKI of Japan,
- Live It Up!
- Effective Herbs,
- Marks & Spencer,



- Padini Concept Store,
- BRANDS Outlet,
- VOIR Fashion Gallery,
- Forever 21,
- Food Republic (Singapore),
- NEWAY Karaoke Box of Hong Kong,
- Candylicious (Singapore),

image hosted on flickr


- Home Fix D.I.Y.,
- Hokkaido Ichiba,
- Nichii,
- F.O.S. Superstore,
- Rooftop sports center: It's a Hit! Battling Cages and Padang Futsal Courts,
- Home's Harmony

Some better known outlets at 1 Utama suburban mall:
A|X Armani Exchange
Adidas Performance
Aēsop
aimerfeel
ALDO
Aussino
bauhaus
bebe
benefit San Francisco
Bershka
Bimba & Lola
Biotherm
Bobbi Brown
Body Glove
Bossini
Bratpack (FitFlop, Native, Ellesse, Sanuk)
Braun Büffel
Brooks Brothers
bYSI



Camel Active
Chanel Espace Parfum
Charles & Keith
Chicco
City Chain
cK Calvin Klein
Clarins
Clarks
Clinique
Coach
Colour Culture (by OPI Products Inc.)
Converse
Cotton On
Cotton On Kids



Crabtree & Evelyn
Crocs
Crocs, Ocean Minded by
DC Comics Super Heroes
Denni & Co. (Denni-Kenji)
diva
DKNY Jeans
DOCKERS San Francisco
Dorothy Perkins
Dr. Brandt
Eckō Unltd.
ELLE
ESPRIT
ESPRIT, edc by
Etude House
Florsheim
Forever 21
FOSSIL
French Connection: FCUK
G2000
GAP
GAP Kids
GEOX
Giordano
GUESS
GUESS Accessories
GUESS Kids
GUESS Watches (Gc)
Guy Laroche
Hang Ten
Hunter Douglas
Hush Puppies
Hush Puppies Apparel
iora
iwannagohome!
Jaspal
Jeanswest
Johnson Fitness
Kiehl's New York
Kipling
La Senza
Lacoste
Laura Ashley
Laura Mercier
L'Erbolario
Levi's Store (Original)
Li-Ning
L'Occitane en Provence
M.A.C
Marks & Spencer
Massimo Dutti
Melvita
Michael Kors
Miss Selfridge

Morgan de Toi
Mothercare
Mt. Sapola, Spa at home
Nature Republic
Nautica
New Balance
Nike
Nine West
Okaïdi & Obaïbi
Oroton
Paris Hilton
Paris Miki, Optique
Pedro
Phiten
Promod
Puma
Pumpkin Patch
Quiksilver
Red Army Watches
Reebok
Renoma Paris
Rip Curl
RISIS

image hosted on flickr


Rockport
Romp
Royal Sporting House
SAMBA (iPanema, Rider, Grendha)
Samsonite
Sasa and Sèlective by Sasa
Scholl
Shu Uemura
Skechers
Skin Food
Speedo
Springfield, Men & Women
Steiff
STORM London
Stride Rite
Sun Paradise
Swatch
T.M.Lewin
The Body Shop
The Face Shop
The Shirts Studio by Tokyo
Timberland
Tissot
Tommy Hilfiger
Topshop & Topman
ToyWatch
U.R.S & Inc
UNIQLO
VANS
Victoria's Secret
Warehouse
XZQT
Yves Rocher
ZARA

Opened in April 2012:

1 Utama Shopping Mall's Secret Garden - at 30,000 sq ft it is now one of the world's largest rooftop garden

[davidwsk]

Originally Posted by davidwsk

Sunday October 28, 2012

KL ranked No. 2 in shopping

By JOSEPH KAOS Jr
joekaosjr@thestar.com.my


Shopping paradise: The index has taken note of the Government’s mammoth investments in developing KLCC and Bukit Bintang as a ‘premier shopping precinct’.

PETALING JAYA: Kuala Lumpur is the second best shopping city in Asia Pacific, according to the latest Globe Shopper Index, cementing its position as a shopping paradise.

Twenty-five cities in the region were assessed under five categories shops; culture and climate; hotels and transport; affordability; and convenience.

Kuala Lumpur achieved the second highest overall score of 65 out of 100.

Only Hong Kong scored higher 68.5 edging other cities for its safety, dependable city transport and variety of shops and brands. Shanghai was third with a 63.1 score with Beijing placed fourth at 60.7.

Singapore (60.2) and Bangkok (57.1) were ranked fifth and seventh respectively. The other big cities ranked included Sydney (58.4), Tokyo (56.4) and Seoul (54.8).

“Kuala Lumpur's specific strength is its ability to combine low prices with a good range of products in a large number of stores, including three of the world's 10 biggest shopping malls,” the index report stated.

The report predicted that Kuala Lumpur had the potential to perform better in future indexes due to the Government's efforts to promote retail tourism.

It also took note of the Government's mammoth investments in developing KLCC and Bukit Bintang as a “premier shopping precinct in Malaysia”.

Bukit Bintang-KLCC Tourism Association chairman Joyce Yap welcomed the report, saying the Government's decision to make shopping a focus in the Economic Transformation Plan was a key factor.

The Globe Shopper Index was created by the Economist Intelligence Unit, which is part of the Economist Group and founded as an in-house research unit for The Economist newspaper and commissioned by Switzerland-based shopping tourism company Global Blue.

More: http://thestar.com.my/news/story.asp...412&sec=nation

---------------

[patchay]

Visit our 5 most popular suburban malls to view their tenants profile.



Outside Kuala Lumpur Suburban Shopping Malls

1 Utama Shopping Centre
http://www.facebook.com/1Utama
http://www.1utama.com.my/

No. of Tenants: 680

Occupancy: Close to 94% (tenancy renewal period)

Unique tenant mix:
AEON Co., Parkson, Isetan of Japan, Ck TANGS of Singapore, Cold Storage, 13-screen Golden Screen Cinemas, 12-screen TGV Cinemas and IMAX (opening soon), MPH Bookstores, Daiso of Japan, ZARA, Uniqlo (2-storey), Marks & Spencer, Bershka, Forever 21, Topshop and Topman, COACH, Massimo Dutti, Michael Kors, Tommy Hilfiger, FCUK French Connection, Esprit, Quiksilver & Roxy, Springfield Men & Women, Rip Curl, Victoria's Secret, Chanel Beauty Store, Laura Ashley, Celebrity Fitness, Best Denki of Japan, Food Republic of Singapore, Toys 'R' Us, U-Bowl (36 lanes), Candylicious Store and Garrett Popcorn Chicago, PUTIEN Restaurant Singapore, Neway Karaoke Box of Hong Kong, Camp5 Indoor Rock Climbing Gym (Asia's largest), Padang Futsal Centre and It's A Hit! Batting Cages, etc





Mid Valley Megamall and The Gardens Mall
http://www.midvalley.com.my/ and
http://www.midvalleygardens.com.my/g...l/default.html

Total No. of Tenants: 454 + 209 = 663

Occupancy: Close to 100%

Unique tenant mix:
AEON Co., Carrefour Markets, Metrojaya, Isetan of Japan, Robinsons of Singapore, Cold Storage Marketplace, Harvey Norman, 18-screen Golden Screen Cinemas, Golden Screen Signature Cinemas, MUJI (opening soon), Ace Hardware, Uniqlo, Forever 21 (2-storey), GAP and GAP Kids (2-storey), Marks & Spencer, Uniqlo, ZARA, Bershka, Topshop and Topman, Esprit, MANGO, MANGO Touch, H.E. by MANGO, Quiksilver & Roxy, Springfield Men & Women, Celebrity Fitness, Cosmic Bowl (38 lanes), Din Tai Fung, Krispy Kreme, MPH Bookstores, Borders Bookstore and inhouse Radioshack, Toys 'R' Us, Bang & Olufsen, Pepe Jeans, LeSportsac, Louis Vuitton, COACH, BOSS Hugo Boss, Burberry, TOD'S, Longchamp, Lancel, Karen Millen, Kate Spade, Massimo Dutti, DKNY Jeans, Dockers, Versace Jeans, Versace Collection (opening soon), Vertigo Kuala Lumpur (LED nightclub), etc

image hosted on flickr

Untitled by ahmadjaa, on Flickr



Sunway Pyramid Shopping Centre
http://www.facebook.com/sunwaypyramid
http://www.sunway.com.my/pyramid/

No. of Tenants: 711

Occupancy: Close to 100%

Unique tenant mix:
Sunway Pyramid Ice Rink and Skating School (Southeast Asia's largest), AEON Co., Giant Hypermarket, Parkson, Harvey Norman, Daiso of Japan, 11-screen TGV Cinemas and IMAX, ACE Hardware, Marks & Spencer, Uniqlo (opening soon), COACH, ZARA, Forever 21, Topshop and Topman, Esprit, MANGO, Quiksilver & Roxy, Springfield Men & Women, Holika Holika Korea, Payless Shoesource, Everlast, Lee Jeans, The Savile Row Company, Bronx Shoes, Billabong, DC Shoes, Rip Curl, Volcom, Celebrity Fitness, Toys 'R' Us, Stars Archery Indoor Centre, Pyramid Mega Lanes Bowling (48 lanes), Red Box Karaoke, Bubba Gump Shrimp Co., Ajisen Ramen, Hartz Chicken Buffet of Texas USA, Krispy Kreme, etc





Paradigm Mall
http://www.facebook.com/ParadigmMall
http://www.paradigmmall.com.my/

No. of Tenants: 275

Occupancy: Close to 95%

Unique tenant mix:
TESCO, Marks & Spencer, H&M (coming soon), Uniqlo (opening soon), 9-screen Golden Screen Cinemas, Sephora, ZARA, GAP, U.S. Polo Assn., Springfield Men & Women, Harvey Norman, Toys 'R' Us, Payless Shoesource, Lovisa Australia, Hallmark Babies Store, Fitness First (opening soon), Japan Home Centre of Hong Kong, Bulgogi Brothers, Paradise Dynasty Restaurant Singapore, Four Seasons Restaurant of London, etc





Setia City Mall
http://www.facebook.com/setiacitymall
http://www.setiacitymall.com/

No. of Tenants: 251

Occupancy: Close to 95%

Unique tenant mix:
Parkson, H&M, Uniqlo, Urbanfresh Marketplace, 9-screen Golden Screen Cinemas, MPH Bookstores, Harvey Norman, Courts Southeast Asia, TAIHOYO Taiwan, Daiso of Japan, Fitness First, DC Shoes, T.M. Lewin, ZARA, MANGO, Esprit, Rip Curl, Pho Hoa Noodle Soup, Krispy Kreme, Wangsa Bowl (28 lanes), dining on the park, etc

[patchay]

Some retail news from KL based on my observation.

Originally Posted by patchay

Debenhams Cafe is relocating/expanding downstairs next to Sephora Kuala Lumpur




Just came back, amongst the store relocations:

1. M Missoni is moving to a bigger store, will replace the former Steinway Lyngdorf.
2. Sergio Rossi is moving to a bigger store.
3. Boucheron Paris flagship is expanding.
4. Richard Mille flagship is expanding.
5. KENZO is relocating.
6. Tendence (watches) will takeover former BLU/Armand Nicolet.
7. FENDI will move out once their Pavilion duplex store opens.
8. CERES DIAMONDS will be opening soon.
9. Cecil Purnell is opening soon.
10. Samer Halimeh New York is opening soon.
11. Maîtres du Temps is opening soon.
12. Just realised there are 2 different McQ Alexander McQueen stores in the same mall. The grey signage one should be Alexander McQueen only.
13. Just realised there are 2 different Davidoff in the same mall. One with black signage and another one with red signage.
14. Secretly took some boutique photos of DIOR, Red Valentino, OMEGA and VALENTINO stores (Photos are forbidden in this mall).


The new AMOUAGE store in Starhill Gallery is damm beautiful.




DIOR Starhill Gallery




PORSCHE DESIGN Starhill Gallery




DAVIDOFF Starhill Gallery





McQ by Alexander McQueen, AMOUAGE, Armani/Casa/Dolci/Fiori, Arrow, Audemars Piguet, Bedat & Co., Boucheron Paris, Carrera y Carrera Madrid, Cecil Purnell, CERES Diamonds, Charriol Genève, Chopard, Christofle, Davidoff, Debenhams and Designers @ Debenhams, Dior, Fendi, GARRARD, Gübelin Uhren und Schmuck, Hermès Horloger, Hublot Genève, Jaeger-LeCoultre, Kanebo Cosmetics (International Spa), KENZO, La Femme, Leica, Ligne Roset, M Missoni, Maîtres du Temps, Maurice Lacroix, Moroso, MOUAWAD, OMEGA, Porsche Design, RADO, RED Valentino, Richard Mille, Rolex, Samer Halimeh New York, Sergio Rossi, Shiatzy Chen, Sincere Fine Watches, Smalto, Steinway Lyngdorf, Tse Sui Luen Jewellery (TSL), Ulysse Nardin & Reuge, Valentino, Van Cleef & Arpels, YAFRIRO

[gevorika78]

[IMG]http://i40.************/eq2ts1.jpg[/IMG]

[IMG]http://i33.************/3149teb.jpg[/IMG]

[brick84]

Awesome pics.

Post more please.

[Lydon]

Phase I of the Sandton City mall upgrade in Johannesburg, South Africa has been completed. It's now the second largest in South Africa at around 158 000 square metres if I recall correctly. Future phases include the recladding of the hotel and tower on-site, as well as the construction of two additional towers. The tallest of which is punted to become the tallest in Africa:

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All images courtesy MDS Architecture.

[oliver999]

Originally Posted by MrCitiesXl

Chinese citizen in china doesn't have good purchasing power compared to the philipines

lol

[thesmguy360]

There is a rumor that the 3rd largest mall, SM City North EDSA will expand and will become the largest mall in the world. SM Megamall is also expanding and might surpass SM North EDSA for a short while . SM said the North EDSA expansion is still under deliberation.
SM also said they will build the largest mall in Tianjin. SM North EDSA is currently at a 482,872m2 GFA, about 2 times the size of Mall of America (not to be confused with SM Mall of Asia ). For more information about SM City North EDSA, go to en.wikipedia.org/wiki/SM City North EDSA

[xtinataguba]

nice architecture! ..but it is so much fun visiting those malls if we have that huge money and just spend it on those malls, in that we can truly enjoy those malls.

[alheaine]

Originally Posted by arthur2012 arthur20

According to my research 1. New South China Mall 2. Golden Resources Mall 3. SM City North Edsa 4. 1 Utama 5. CentralWorld. I hope I can visit all those malls!

i think i'm gonna get lost in SM City North EDSA..

[jogiba]

The Dubai Mall is the largest mall in the world by total area ( 12.1 million sq ft).

http://www.thedubaimall.com/en
http://www.youtube.com/watch?v=Dmnx6TMGRd8

[:jax:]

Originally Posted by the spliff fairy

I heard theres a new one in Beijing too thats now the worlds second largest, the Golden Resources Mall.

rentable space

1. South China Mall, Dongguan 7.1 million sq. feet
2. SM Golden Resources Mall, Beijing 6 million sq. feet
...
8. Beijing Mall, 3.4 million sq. feet

I have been to Dongguan several times, and while I've wanted to, I still haven't gotten to South China Mall (if it is still a mall). It is at a really inconvenient location, it is a clear "What were they thinking?" project.

Golden Resources is at an inconvenient location too, for being in Beijing city, but at least it is reachable, and a metro comes by the end of the year. Even then it is probably not worth the bother. I was surprised to find out that this project was only about a decade old, it looks like a throwback to the Cultural Revolution. The reason people are not going there is not because it is too expensive, as the article claims, there are many much more expensive malls in Beijing and they are thriving. It is a failure because it has nothing there anyone wants, displays that in an unappealing way, and is far off from where people would go to shop.

I don't know which mall "Beijing mall" would be. I have been to most malls in Beijing (a major undertaking I tell you, and they keep coming). Golden Resources wouldn't make the top 20.

[patchay]

Xmas is here.

Originally Posted by patchay

Crane spotted at Pavilion 2 Expansion Site. Anyway this Christmas.


Bedazzled in 1 Fashion Mall. Bedazzling Christmas at Pavilion Kuala Lumpur.
Photo Source: http://www.facebook.com/PavilionKL
Website: http://www.pavilion-kl.com/content/
Rated 4.5 star on TripAdvisor: http://www.tripadvisor.com.my/Attrac...rsekutuan.html

No. of Tenants: 459; Parking Bays: 2,427; Estimated Annual Traffic: 32 million visitors (Source: Pavilion REIT, listed on Bursa Malaysia)

'World's Best Retail Mall' by FIABCI Prix d'Excellence Awards 2009
'Architecture Award (Retail) - Asia Pacific' by Asia Pacific Property Awards in association with Bloomberg Television
'Innovative Design & Development of a New Retail Project' by International Council of Shopping Centers in Asia Shopping Centre Awards 2010


Photo Source: http://www.facebook.com/PavilionKL

Notable Fashion Standalone Boutiques:

A|J Armani Jeans
A|X Armani Exchange
Adidas Originals (Blue)
Adidas Performance
Aēsop
Aigner, Etienne
ALDO Collection
Annick Goutal
Asics
Aveda
Bally
bauhaus
BCBG Maxazria
bebe
Bell & Ross
Ben Sherman
Billabong
Biotherm
Bobbi Brown
BOSS Hugo Boss
Bossini
Bottega Veneta
Braun Büffel
Brooks Brothers
Burberry
BVLGARI
Camel Active
Canali
Céline
Celio
Cerruti 1881
Charles & Keith
Chateau de Sable
Chopard
Chow Tai Fook Jewellery
City Chain
cK Calvin Klein
cK Calvin Klein Jeans
cK Calvin Klein Watch & Jewellery
Clariancy
Clinique
Coach


Photo Source: http://www.facebook.com/PavilionKL

Colantotte
Cole Haan
Colour Culture (by OPI Products Inc.)
Condotti
Converse
Cotton On
Crabtree & Evelyn
Crocs
Crumpler
DC Comics Super Heroes
Dermalogica
Desigual Store (at Parkson)
Diane von Furstenberg
diptyque Paris
diva
DKNY
Doris Vinci Jewelry
Dorothy Perkins
Elie Bleu
Emilio Pucci
Ermenegildo Zegna
ESPRIT
Etude House
Evita Peroni
Fendi
Forever 21
FOSSIL
Fred Perry
G2000
GAP Kids
GEOX
Giordano
Giuseppe Zanotti
Givenchy
gordonMax
Gucci
GUESS
GUESS Accessories & Shoes
GUESS Kids
H20+
HABA
Hackett London
Havaianas, The 'H' Store
Hermès
Hush Puppies
INVICTA Watches
IWC Schaffhausen
Jaspal
Jim Thompson
Jimmy Choo
Jo Malone London
Juicy Couture
Jurlique
Karen Millen
Kiehl's New York


Photo Source: http://www.facebook.com/PavilionKL

La Martina
La Senza
Laura Mercier
LeSportsac
Levi's Store (Original)
LIULIGONGFANG
L'Occitane en Provence
Longchamp
Longines
Luxenter
M.A.C
MANGO MNG
Marc by Marc Jacobs
Maserati S.p.A. Apparel
Massimo Dutti
Michael Kors
Mikimoto
Montblanc
Morgan de Toi
Mothercare
Mothers en Vogue
Mt. Sapola, Spa at home
Mugler by Thierry Mugler
MUJI
Nike
Nine West
NOESA
Okaïdi & Obaïbi
OMEGA
Onitsuka Tiger
OPTICAL 88
ORIKS Korea Cosmetics
Oroton
Pandora
Paris Hilton
Patchi International
Paul Frank
Pedro
Pepe Jeans
Phiten
Prada
Promod
Pull & Bear


Photo Source: http://www.facebook.com/PavilionKL

Puma
Pumpkin Patch
Quiksilver
Rabeanco
Radley
RADO
Ralph Lauren
Ralph Lauren, Denim & Supply
Raoul
Red Army Watches
René Furterer
Replay
Rimowa
RISIS
Rolex
Roxy
Sacoor Brothers
Salvatore Ferragamo
Samsonite & American Tourister
Sasa and Sèlective by Sasa
Shanghai Tang
Shu Uemura
Simmons
Sincere Fine Watches
SKAGEN Denmark
Skechers
Speedo
STORM London
Stuart Weitzman
Sun Paradise
Swarovski
Swatch
T.M.Lewin
TAG Heuer
Ted Baker
Tempur-Pedic
The Body Shop
The Face Shop
The Hour Glass
Thomas Sabo
Tiffany & Co.
Timberland
Tissot
TOD'S
Tommy Hilfiger
Topshop & Topman
ToyWatch
TUMI
TW Steel
Valentino Rudy
Versace
Versace Jeans (at Parkson)
Vertu
Victoria's Secret
Warehouse
XZQT
Yves Saint Laurent
ZARA
Zwilling J.A. Henckels


Photo Source: http://www.facebook.com/PavilionKL

PAVILION IS A LOW PROFILE STORY: The story behind Pavilion KL, one of the most popular shopping malls in Kuala Lumpur, was out in Bloomberg this morning. The shopping mall REIT is the best performing amongst recent large Malaysian initial public offerings (IPOs).



Billionaire Lim Unmasked as Pavilion REIT Outpaces Malaysia IPOs
By Netty Ismail - Nov 22, 2012 12:00 AM GMT+0800
http://www.bloomberg.com/news/2012-1...ysia-ipos.html

Desmond Lim Siew Choon became a billionaire developing a high-end retail mall and an office tower in Kuala Lumpur, wooing Middle Eastern investors and listing the properties as a real estate investment trust.

The 52-year-old chairman of Pavilion Real Estate Investment Trust (PREIT), Malaysia’s second-biggest property trust by market value, is worth at least $1 billion, according to the Bloomberg Billionaires Index. Lim and his wife, Tan Kewi Yong, own 38 percent of the Kuala Lumpur-based trust, whose shares have outpaced other companies that raised at least $50 million in an initial public offering in Malaysia in the past 12 months.


The Pavilion shopping mall in Kuala Lumpur, Malaysia. Photographer: Andrea Pistolesi/Getty Images

Rising consumption and increased tourism in Malaysia have bolstered Pavilion REIT, which has surged almost 60 percent since trading on Dec. 7. Malaysia’s gross domestic product exceeded 5 percent for at least a fifth quarter as the government raised spending and unveiled infrastructure projects before a general election that must be held by early 2013.

“While the general masses have benefited from this wealth effect, I would say that the upper crust would have seen the largest gains from the recent run up,” said William Chan, chief executive officer of Singapore-based family office Stamford Privee. “Connections matter, both locally and globally.”

Lim, who has never appeared on an international wealth ranking, declined to be interviewed as he’s traveling for business, said Philip Ho, CEO of Pavilion REIT Management Sdn, which manages the property trust.

Oklahoma Education

Lim majored in finance at the University of Central Oklahoma, and started building houses, condominiums and office towers with developer Khuan Choo Group in the 1980s. As Malaysia prodded banks to merge, Lim took over the listing status of Gadek Capital Bhd. after the latter sold its finance business to Hong Leong Bank Bhd. in 2000. Lim injected Khuan Choo into Gadek, renamed it Malton Bhd. (MALT) and relisted it in 2002.

The billionaire made the bulk of his fortune from developing the mixed-use Pavilion project -- a mall, two luxury apartment towers and an office building -- on the former site of a girls’ school in Kuala Lumpur, one of the last pieces of prime real estate in the capital.

Malton was the contractor of the Pavilion, located in the main shopping street of Jalan Bukit Bintang, Kuala Lumpur’s version of Fifth Avenue in New York and Orchard Road in Singapore. In the heart of the city’s Golden Triangle entertainment and commercial district, the mall, which drives the property trust’s earnings, is surrounded by hotels including the Westin Kuala Lumpur and JW Marriott Hotel. Tourists account for more than 30 percent of Pavilion’s shoppers. Malaysia attracted 24.7 million tourists last year, almost double the 12.7 million in 2001.

Showing Luxury

The mall, which has total net lettable retail area of more than 1.3 million square feet, houses boutiques including Prada and Hermes alongside luxury-car showrooms offering the latest Jaguar and Bentley models. Other tenants include The Loaf, a Japanese-style gourmet bakery and bistro part-owned by former Malaysian prime minister Mahathir Mohamad, as well as an art gallery promoting the works of American pop artist Robert Indiana and contemporary painters.

When Lim embarked on the project around 2002, his entry cost was low with commercial and residential properties in downtown Kuala Lumpur transacting at less than 500 ringgit ($164) per square foot, the Edge newspaper reported on Sept. 27, 2010. Prices had risen more than three times to about 1,800 ringgit per square foot by the time it was completed in 2008, according to the newspaper.


http://1.bp.blogspot.com/--GcN7QJGwP...25281%2529.jpg

Golden Triangle

There is an “increasing scarcity of prime land” in the capital’s city center, particularly in the Golden Triangle area, the research unit of Kuala Lumpur-based Alliance Investment Bank Bhd. said in a report dated July 25.

Kuwait Finance House (KFIN), the Persian Gulf state’s biggest Islamic lender, helped to finance the development cost when it took a 49 percent stake in the Pavilion project in 2006 and bought both the residential towers. Qatar Investment Authority has since bought the stake from Kuwait Finance House and owns about 36 percent of Pavilion REIT.

Lim and his wife received about 703 million ringgit in cash from selling their stakes in the Pavilion Kuala Lumpur Mall and the office tower to the trust before its initial share sale, according to Bloomberg calculations. They were also paid in equity and are the biggest shareholders in Pavilion REIT, along with Qatar’s sovereign wealth fund.

“The turning point for him is through this development project,” said Ang Kok Heng, chief investment officer at Phillip Capital Management Sdn. in Kuala Lumpur. “He’s been keeping a very low profile; not many people know much about him.”


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Meeting Adjourned

In December 2006, Lim and his wife angered minority shareholders of Malton when they were absent from the company’s annual general meeting for the second consecutive time, Bernama reported then. The gathering was adjourned to a later date after the investors demanded that Lim, the company’s executive chairman, and his wife, its executive director, attend the next meeting, according to the Malaysian state news service.

Six out of nine analysts who cover Pavilion REIT have a “buy” or “outperform” recommendation on the trust, according to data compiled by Bloomberg.

Pavilion REIT closed at a record high of 1.46 ringgit on Nov. 14. The property trust’s total return of 62 percent since it started trading to yesterday outpaced the 13 percent return by the benchmark FTSE Bursa Malaysia KLCI Index in the same time period.

“Pavilion has been a success story among Malaysian REITs,” said Philippe Espinasse, former co-head of Asian equity capital markets at Nomura Holdings Ltd. The “scale of the properties” and its high-end positioning contributed to its gains, said the author of “IPO: A Global Guide.”

Retail Advantages

Pavilion REIT will probably climb to 1.60 ringgit per share as consumer spending remains resilient and the mall, the “crown jewel” of the trust, attracts more visitors once a subway is completed in as early as 2016, said Loong Kok Wen, an analyst at RHB Research Institute in Kuala Lumpur.

The property trust plans to acquire other malls including Fahrenheit88, located opposite the Pavilion.

Lim’s closely-held Urusharta Cemerlang, which developed the Pavilion project, bought a piece of land in Jalan Bukit Bintang for a record 7,209.80 ringgit per square foot in 2010 from Millennium & Copthorne Hotels Plc. Lim’s Urusharta Cemerlang Development owns 51 percent of Urusharta Cemerlang and Qatar Investment Authority holds the remaining equity.

Stake Valuation

Lim’s stake in the property venture with the sovereign wealth fund is valued at $60 million based on the average price- to-book of four publicly traded peers: IGB Corp., KLCC Property Holdings Bhd., Eastern & Oriental Bhd. and Overseas Union Enterprise Ltd.

The billionaire and his wife once owned about 24 percent Paracorp Bhd., a Kuala Lumpur-based maker of electronic components, before it was delisted from Bursa Malaysia in 2007, according to company filings. Lim also owns almost 13 percent of Hong Kong-listed Nan Hai Corp., which focuses on property development in China. He sold a 4.8 percent stake in Nan Hai in 2007 for HK$957 million ($123 million).

Lim’s wife is the sister of businessman (Tan Sri) Robert Tan Hua Choon (the elder brother of Berjaya Group's Tan Sri Vincent Tan), according to the Edge. The billionaire’s brother-in-law controls at least half a dozen Malaysian listed companies including ceramic ware maker Goh Ban Huat Bhd. and investment holding firm FCW Holdings Bhd., data compiled by Bloomberg show.

“In Malaysia, connections are necessary especially if you are in property development,” Ang said. “Connections help to speed up things and you get more favorable terms when you submit your proposals to the right authorities.”

Less Vulnerable

Pavilion REIT posted better-than-expected net property income of 61 million ringgit in the third quarter because of higher rental and advertising earnings. Southeast Asia’s third- largest economy is projected by the central bank to expand at least 5 percent or better in 2012.

“Being less vulnerable to potential external shocks, economies like Malaysia have been able to dig down and create its own momentum,” said Chan of Stamford Privee. “It won’t be surprising that Malaysia will be able to mint out its own fair share of Asian billionaires.”

To contact the reporter on this story: Netty Ismail in Singapore at nismail3@bloomberg.net To contact the editor responsible for this story: Matthew G. Miller at mmiller144@bloomberg.net



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[anylopez]

Wow! That's stores! I'd lost my way there!