GREATER KUALA LUMPUR

RETAIL SECTOR
Q1 2022
RETAIL SECTOR PERFORMANCE

MALAYSIA RETAIL INDUSTRY E-COMMERCE

KEY HIGHLIGHTS Q1 2022
ANNUAL GROWTH RATE PERFORMANCE TRANSACTION

2020

RM896.4 billion
32.7% y-o-y
(2019: RM675.4 billion)

2021

Source: Retail Group Malaysia

RM1.1 trillion
• In Q4 2021, Malaysia’s retail industry sales recorded a significant
2020 2021 2022F 21.8% y-o-y
increase of 26.5% as most retail outlets were beginning to reopen
(2020: RM896.4 billion)
for business
• The gradual transition in Q1 2022 to the endemic phase on 1st April
2022 has been the catalyst for increased mall footfall in major
-16.3% -2.3% 6.3%
shopping centres in Greater Kuala Lumpur
• Christmas, Chinese New Year and Hari Raya Aidilfitri festivals have
been major contributors to the improvement of mall traffic
• The retail industry sales turnover is expected to increase by 6.3%
Source: Department of Statistics Malaysia
Source: Retail Group Malaysia
or RM93.5 billion in 2022 compared to 2021 (DOSM)
SHOPPING COMPLEXES – MARKET OVERVIEW
EXISTING SUPPLY EXISTING SUPPLY & OCCUPANCY RATE OF INCOMING SUPPLY
Q1 2022 RETAIL SPACE IN KLANG VALLEY (2016 – 2021) Q1 2022
KUALA LUMPUR KUALA LUMPUR

36.57 million sf 4.24 million sf

112 buildings 8 buildings

SELANGOR
SELANGOR
5.53 million sf
40.15 million sf
8 buildings
153 buildings
Source: NAPIC
Source: NAPIC

PLANNED SUPPLY
AVERAGE OCCUPANCY RATE 2021
Q1 2022
PUTRAJAYA
KUALA LUMPUR SELANGOR PUTRAJAYA KUALA LUMPUR
0.93 million sf
2.01 million sf
4 buildings
79.8% 80.7% 87.9%
3 buildings

Source: NAPIC Source: NAPIC

Source: NAPIC
KEY TRENDS

ACCELERATION OF IMPROVED MALL MALL

OMNICHANNEL
E-COMMERCE FOOTFALL DIGITILISATION
STRATEGY
More shopping malls are
Malaysia’s e-commerce Greater KL retail market recorded Majority of businesses adopt
90% mall footfall for major shopping embarking on digital
transactions hits RM1 trillion mark omnichannel strategy to generate
centres in Q4 2021 compared to transformation by building an
for the first time in 2021, recording sales from both offline and online
the pre-pandemic levels and this online presence such as digital
a 21.8% growth y-o-y platforms
trend has continued into Q1 2022 mall or “e-mall”

IN-STORE DIGITAL EXPERIENCE-DRIVEN BUILDING VENTILATION

EXPERIENCE
Brick-and-mortar retail stores are
offering online shopping experience
with greater emphasis on artificial
intelligence (AI) and virtual reality (VR)
technologies
DESTINATION
Shopping malls will be looking to
adopt more experiential and
immersive shopping elements to
drive mall footfall and creating
product differentiation
AND GREEN FEATURES
Retail space incorporating
breezeways, ventilated spaces and
biophilic features are commonplace
in design of new shopping malls
SELECTED MAJOR TRANSACTIONS
NOV 2020 MAY 2019 JULY 2017

RM300 million (RM1,000 psf) RM1.48 billion (RM804 psf) RM580 million (RM2,398 psf)
Ampang Point Mall Pavilion Bukit Jalil Elite Pavilion Mall
NLA: 300,000 sf NLA: 1,839,914 sf NLA: 241,823 sf

JAN 2017 DEC 2015 JAN 2015

RM570 million (RM1,629 psf) RM160 million (RM711 psf) RM540 million (RM1,205 psf)
Empire Shopping Gallery Intermark Mall Tropicana City Mall (3 Damansara)
NLA: 350,000 sf NLA: 225,014 sf NLA: 1,000,000 sf
SELECTED MAJOR TRANSACTIONS

Estimated Net
Date of Transaction
Property Lettable Area (NLA) Analysis on NLA Vendor Purchaser
Transaction Price
(sf)

Purple Boulevard Nadin Holdings

Ampang Point Mall 10-Nov-2020 300,000 RM300,000,000 RM1,000 psf
Sdn Bhd Sdn Bhd

Pioneer Haven Regal Path

Pavilion Bukit Jalil 28-May-2019 1,839,914 RM1,480,000,000 RM804 psf
Sdn Bhd Sdn Bhd

Mammoth Empire
Pelaburan Hartanah
Empire Shopping Gallery 19-Jan-2017 350,000 RM570,000,000 RM1,629 psf Holdings
Bhd
Sdn Bhd

Urusharta
Pavilion
Elite Pavilion Mall 27-Jul-2017 241,823 RM580,000,000 RM2,398 psf Cemerlang KL
REIT
Sdn Bhd (UCKL)

The Intermark Pavilion

Intermark Mall 29-Dec-2015 225,014 RM160,000,000 RM711 psf
Sdn Bhd REIT

Capitamalls
Tropicana City Mall Tropicana City
15-Jan-2015 448,248 RM540,000,000 RM1,205 psf Malaysia Trust
(3 Damansara) Sdn Bhd
(CMMT)
NEW COMPLETIONS IN 2021
Q1 2021 Q4 2021 Q4 2021

Selangor | Setia Alam KL City Fringe | Bukit Jalil KL City | Bukit Bintang
Setia City Mall (Phase 2) Pavilion Bukit Jalil Mitsui Lalaport Mall @ BBCC
NLA: 450,000 sf NLA: 1,800,000 sf NLA: 1,200,000 sf

Q4 2021 Q4 2021 Q4 2021

Putrajaya | IOI Resort City Selangor | Semenyih KL City Fringe | Jalan Jelatek
IOI City Mall 2 EcoHill Walk Mall Datum Jelatek Mall
NLA: 1,000,000 sf NLA: 170,000 sf NLA: 317,000 sf
UPCOMING COMPLETIONS

2022 2022

Selangor | Klang KL City | Tun Razak Exchange

KSL Esplanade Mall The Exchange @ TRX
NLA: 650,000 sf NLA: 1,330,000 sf

2022 2023

KL City | Merdeka 118 KL City Fringe | Damansara Heights

118 Mall Pavilion Damansara Heights
NLA: 1,000,000 sf NLA: 1,100,000 sf
UPCOMING COMPLETIONS

2023 2023

KL City | Jalan Ampang KL City | Jalan Conlay

The Boulevard, Oxley Towers 8 Conlay - Retail
NLA: 257,800 sf NLA: 200,000 sf

2023 2023

Selangor | Klang Putrajaya | Precinct 8

Pier 8 @ Gravit 8 Terra Mall
NLA: 150,000 sf NLA: 196, 290 sf