KUALA LUMPUR (April 30): CapitaLand Malaysia Mall Trust (CMMT) has committed to RM35 million in rental relief for shopping mall tenants in non-essential services during the movement control order (MCO) period.
PETALING JAYA (April 29): The shopping complex or retail property sector's performance was stable last year, recording an overall occupancy rate of 79.
PETALING JAYA (April 24): Sunway Malls will be giving its non-essential retailers an option to operate shorter hours after the Movement Control Order (MCO) ends, which is currently scheduled to end on May 12.
PETALING JAYA (April 24): The Covid-19 pandemic has given shopping mall operators the opportunity to improve cost efficiency, according to three major industry players who took part in EdgeProp.
PETALING JAYA (April 24): No one would have anticipated the Movement Control Order (MCO) brought on by the Covid-19 pandemic, not least shopping mall operators and their tenants.
PETALING JAYA (April 24): While the Movement Control Order (MCO) in place in Malaysia to curb the spread of the Covid-19 outbreak has boosted the growth of e-commerce, major mall owners do not foresee it replacing the physical brick-and-mortar shopping experience.
PETALING JAYA (April 24): Based on the ratio of retail space per person in the country, there is no overbuilding of shopping malls in Malaysia, stressed Malaysia Shopping Malls Association (PPK) president Tan Sri Teo Chiang Kok.
PETALING JAYA (April 24): Shopping malls in Malaysia are almost empty during the Covid-19 Movement Control Order which has been in place since March 18 and mall owners expect the next few months to remain challenging post-MCO.
PETALING JAYA (April 24): Neighbourhood malls with a high number of tenants offering essential products and services are expected to be less impacted by the Covid-19 pandemic and the Movement Control Order (MCO), than their larger and more high-end counterparts.
PETALING JAYA (April 24): Malls are now close to empty due to the Movement Control Order (MCO) to break the spreading chain of the Covid-19 pandemic.