CBRE: Retail market looking positive for 2011

KUALA LUMPUR: CB Richard Ellis (Malaysia) (CBRE) reported that 2010 will see increase retail activity in its 4Q Marketview Kuala Lumpur Retail report released on Friday, Mar 11.

"During discussions with retailers, we have been given indication that the majority intend to expand during 2011," CBRE said. "We have also learned of new brands scheduled to enter the Malaysian market during 2011, whether on their own or though local franchise partners."

Moreover, CBRE stated that a couple of leading international brands are looking for space for large-format sorts with affordably-priced items will be positive to the local retail scene.

Currently, total supply of retail space in the Klang Valley end-201 stood at 42.3 million sq ft. The average occupancy rate of selected shopping centers (both prime and non-prime) in the Klang Valley was estimated at 94.7% as at end-2010, with 92.9% for city-centre occupancy, while it is 94.5% for suburban areas.

Rents on the other hand remained flat for 4Q2010.