KUALA LUMPUR, July 17 — Weak consumer appetite for spending could weigh on the retail property sector for the rest of the year, with the addition of more retail spaces causing...
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Rising manpower costs, electricity, rentals, along with increased sales and services tax and fuel subsidy cuts could add to existing pressure as consumers have already cut back on shopping. “The increase in SST rate to 8 per cent is heightening consumer caution, while fuel subsidy rationalisation is expected to inflate operational costs, potentially impacting sales revenue and necessitating price adjustments.”
“To navigate this evolving landscape, retailers and mall operators must adapt their strategies, focusing on creating engaging experiences, optimising tenant mix, and leveraging digital technologies to maintain a competitive edge.”Knight Frank said shopping icons in the capital city such as Suria KLCC and Pavilion Kuala Lumpur still command average monthly gross rentals of RM41 per sq ft and RM30 per sq ft. These malls enjoyed commendable occupancies of 96.0 per cent and 95.
Malaysia Retail Property Sector Shopping Mall Glut
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