![]() “It is important for management to look for new brands and constantly reposition the mall to keep things fresh for customers. RHB Research, which recently attended the third annual REIT forum organised by the Malaysian REIT Managers Association or MRMA, said the panelists discussed how these new malls would have a lot of the same tenants which will only increase competition. ![]() With the risk of an economic slowdown, this would further compound the downward pressure on rental reversion and occupancy rates. Some of the notable new malls expected to open in 2023 are The Exchange TRX (1.3 million sq ft), and 118 Mall (850,000 sq ft). PETALING JAYA: Competition is set to intensify in the retail real estate investment trust (REIT) market with the upsurge in the total supply of retail space in the Klang Valley and the risk of an economic slowdown on the horizon.Īccording to Knight Frank, the cumulative supply of retail space in the Klang Valley is expected to increase from 68.4 million sq ft in 2022 to 71.9 million sq ft in 2023, and 73.7 million in 2024.
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