Does Penang really need more shopping malls in the next five years?
Check out this report in The Star:
‘Lim said the new shopping malls being planned now would also generate about RM3.5bil worth of jobs for the local construction industry over the next five years.
“This means that there will be about RM800mil to RM1bil worth of construction jobs given out in Penang per annum starting from next year,” he said.
These shopping malls include:
- Penang Times Square Phase 3 which will have a net lettable area (NLA) of 230,000 sq ft,
- City Mall Bayan City (300,000 sq ft),
- Southbay Plaza (424,000 sq ft),
- Penang World City (1 million sq ft),
- Sunshine Tower (2 million sq ft),
- The Light Waterfront Mall (1 million sq ft),
- Mall@Southbay City (750,000 sq ft),
- The Designer Village (400,000 sq ft),
- Ikea & Ikano Power Centre (NLA not available), and
- a mall project by Belleview Goup (1.5 million sq ft).’
……………………………
First of all, how are the following existing malls and shopping centres faring?
- Island Plaza, Tanjong Tokong
- Gurney Paragon
- One Stop Centre, Pulau Tikus
- Berjaya Times Square
- Komtar (apart from Level 3)
- Megamall, Prai
- D’Piazza, Bayan Baru
Check out Another deserted mall: A sign of development gone wrong
Seen any deserted malls lately?
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From satisfying the need to shop for necessities to a one-stop hub for desires, how have Malaysian malls evolved over time?
https://youtube.com/watch?v=ZpikqpwUTG8
Talking bout malls, many new condos are built will commercial lots at the lower ground. That is going to make more floor space for shops.
Anyone knows if it is true that there is a guideline of either you build low cost for every condo or you build commercial lots? Heard it but doesn’t seem to make sense if it is true.
Don’t need new shopping malls that are carbon copy of the previous one. If they want to build, build la something with a different concept.
Economy in Malaysia does not have positive outlook in 2016, dampening retail spending and will affect the shopping malls.
Moody’s Cuts Malaysia’s Outlook from Positive to Stable
https://www.youtube.com/watch?v=_nZ3vcXMhO0
Best guess it is to increase city hall / municipal collection by issuing more trading licenses. Have to look at where the new malls would be situated. Might be good to divide some traffic away from the already congested places. New malls these days are without activities just pure shopping and fast food. Best to incorporate some sports element and community support. Example- badminton courts. But this is not profitable as most users are students. Another good feature is to have Flea Market concept just on weekends. Jobs must be created for the locals.Be it as cleaners or sales clerk.… Read more »
Instead of more shopping malls, why not more public libraries, more R+D centres for creative minds & inventors, more skills development & mentoring institutions (like PSDC), more business / brand development centres for aspiring entrepreneurs, more funding for small businesses (PDC looks like catering to more Malays than other races), more rent a space (home or single office) for young work force, more frequent trade fares for local brands + creative offerings, & not least of all more green spaces to drain off the strains of a GST-ed life.
Penang libraries are under the jurisdiction of federal government hence local government cannot intervene to improve its delivery to the people, Anil is that right?
Not sure. Anyone can clarify?
Why wait for Feds when private initiatives can accomplish more meaning things like libraries?
Don’t ask for excuses on behalf of CAT!!!
Shall pose this question to YB Sim for improving CyberLibrary at Bayan Baru and YB Ng Wei Aik for improving cyberlibrary at Komtar. Those rich Pebangites kindly help to upgrade library facilities for less privileged Penangites. THANKS.
Speaking of R&D, Singapore PM Lee Hsien Loong yesterday (Jan 8) unveiled a S$19 billion plan to support Singapore’s R&D efforts over the next 5 years. The Research Innovation Enterprise 2020 Plan (RIE2020) seeks to support and translate research into solutions that address national challenges, build up innovation and technology adoption in companies, and drive economic growth through value creation, in the 4 primary technology domains: – Advanced Manufacturing and Engineering – Health and Biomedical Sciences – Services and Digital Economy – Urban Solutions and Sustainability These 4 domains seek to deepen the technological capabilities and competitiveness of Singapore’s manufacturing… Read more »
Building more shopping malls for the sake of state’s annual development figures? How much of construction jobs actually go to locals or more precisely foreign workers, legal & illegal? This is atrocious! If shopping malls are answers to sales jobs creation, be prepared for opening & closing block-busters of shopping malls. Just go to One-Stop (@ Pulau Tikus) to see the state of shopping mall – more shuttered shops than open ones. Or to D’Piazza (Bayan Baru) for a ghostly walk, day & night. Berjaya Times Square? Apart from Star Walk, there is more empty spaces that can ring whispering… Read more »
Come to think of it, why things done by singkapore kia are always successful, just look at gurney plaza n queensbay mall, and also gurney hotel, now they are charging a bomb for their hotel rates, but biz is still good, why ar ? And singkapore never has any slogan like sg boleh la, 1sg la, and during mahathir’s time, he made the people listen and sing setia !!!
Because of the many sins of the leaders, this 1kk land is being cursed !!!
If Singapore’s Capital Mall plans to acquire those presently struggling malls in Penang, then at least there’s future for them. However, the bright ones have been acquired e.g. Gurney Plaza and Queensbay Mall, so they must have the calculative minds to be picky over which malls have long term growth potential.
The upcoming ones ad listed by Anil could be white elephants if there is no saviour.
Looking at this week Asian stock markets led by plunging China stock, not sure investors still have appetite for malls?
I do not mind having one shopping mall near my home:
– easy for grocery shopping, no need to drive, buy fresh, eat fresh.
– can enjoy free air-cond on any hot day
– help increase the value of my property
Will your property value increase if the roads get congested?
By near I mean 1-2km away, not next to my home, but within walking distance as I do not own a vehicle.
Traffic congestion is a norm now, not an effect of shopping malls but the failure of public transportation and preference to drive.
Provided the locals earn high income, otherwise no purchasing power just window shopping at malls.
Provided foreign tourists are interested of malls different from that in Singapore or Bangkok, otherwise they just enjoy street foods bypassing shopping mall purchases.
Penang Times Square being repositioned as MMall dealings with artificial monetary exchanges. Bet it may cease functioning once novelty wears out. Teenagers and tourists go there for selfie photos without real purchase, so survival of business we shall see in near future.
Having said that, many still pin hope on Ivory CE0 Dato Low Eng Hock to turn it around as he has world city vision for Penang?
Unless Penangites can market their own creations for domestic and global markets to justify more shopping outlets, otherwise we only see duplication of franchised stores in every new shopping mall.
Will Penangites able to go beyond Pensonic to rival foreign brands mushrooming in malls from Gurney to Queensbay?
Capitalmall has brought Singapore brand names like Sakae Sushi, Charles & Keith, G2000 etc to Penang.
Hooray, we have our own brand of tau sah piah though, etc ….