/// East Malaysia Property News
What are the Occupancy
Rates of Malls in Sabah?
A recent popular mall to visit in Kota Kinabalu
The mall culture has become
an integral part of our
lifestyle. As the number of
shopping centres increases,
older and less strategically
located malls may struggle to
attract the local crowd and
tourists..
Malls are increasingly
dependent on nearby hotels
guests and tourists to boost
business sluggishness
especially after the 2014
Lunar New Year. Total retail
space in malls in Malaysia has
doubled since 2002, rising
from 68 million sq ft to 121
million sq ft in 2001. However,
the occupancy rate has
hovered between 77.7% to
81.85 over the past 10 years.
What is certain for sure, Star
City will go into 2014, as
an abandoned project, an
indication that there may be
too many retail floor outlets
in Kota Kinabalu without an
influx of foreign buyers or
new business ideas, products
and services. Some Star
City buyers are worried that
the new mall with a hotel
to be built beside it will be
completed even before Star
City gets rescued, relegating it
to the business backwaters of
desirability.
Suburban niche market
malls like City Mall and the
upcoming Grand Merdeka
would be successful based
o