1.3 million sq ft of retail space coming in Q3 2021 (from one mall)

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We have often read about how malls will find it tough to survive here in the Klang Valley. Well, aside from the popular ones which are still doing well, I think moving forward smaller malls can continue to survive as long as they are located in a growing township and there are no three malls within a few km from one another. Else, the one out of three which stands out the most will kill the other two. Here’s one more coming up in the city centre. It’s formerly known as Lifestyle Quarter and this is located within The Exchange (TRX)

Article in theedgemarkets.com The Exchange TRX will have its shopping mall by the third quarter 2021. This is a 17-acre retail-led mixed development in TRX and is a joint venture between Australian developer and infrastructure firm Lendlease (60%) and TRX City Sdn Bhd (40%). According to Lendlease project director for The Exchange TRX Brendan Walker, the entire development carries an estimated gross development value of about A$3 billion or RM9.1 billion and comprises a 4-storey shopping mall, six apartment blocks, a Grade A office, a hotel and a 10-acre rooftop park. Walker said that the mall will have a net lettable area of some 1.3 million sq ft. He said, “The mall is progressing well. The park is currently in final rounds of approvals with DBKL (Kuala Limpur City Hall) and we are currently finalising the design for the hotel and office for approvals.” Article in theedgemarkets.com

In the beginning, the mall will have the support of office workers working nearby as well as in as well as residents though in the beginning it will have to be supported by the working professionals as well as potential visitors visiting it for shops which could not be found in other malls. Perhaps the bright spot is that it is co-owned by Lendlease which has relevant experience in the industry. Retail will get ever more competitive and people will continue to expect even more new and attractive brands to come and not the exact same copy which they could find elsewhere. Yes, I would definitely love to visit and write a review of it when its completed. Happy following.

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Article written and edited by Charles. News article summarised by Dina Batrisyia.

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