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),
- [email protected] 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
Seen any deserted malls lately?