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Category: Premium Outlet – Mall – Retail

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Penang Property

LRT Mutiara Line Penang has 21 stations. Are you ready?

Frankly, I am not that confident that most Penangites would take the LRT, even those staying along the stations. Stop using Singapore or Hong Kong as a benchmark even if both of them are islands. In Hong Kong, the parking is RM15 per hour, maybe higher depending on locations. It’s similar in Singapore plus the fact the petrol prices for both islands are easily 4 times or higher than Penang. Cars are considered cheap for Hong Kong’s typical salary but cars are super expensive for Singaporeans.

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Premium Outlet - Mall - Retail

IOI Properties loves malls a lot. RM680 million is proof.

RM680 million is not a small sum of money. Not many companies could afford it. What’s the reason why a property developer is willing to pay a big amount to another property developer and buys their mall? What’s the longer term benefits? Really depends on the strategy which the developers are pursuing yeah. Let’s look at the latest acquisition news of a mall I frequent every other month; Tropicana Gardens Mall. The buyer is IOI Properties Group Bhd.

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Premium Outlet - Mall - Retail

IOI Properties Group Berhad Expands in Malaysia with RM1.21 billion in Acquisitions 

IOI Properties Group Berhad (IOI 置业集团, Stock code : 5249) continues  to strengthen its business in its home base, Malaysia with RM1.21 billion in acquisitions over the  past eight months. 

IOI Properties Group Berhad (“IOIPG”) announced today that it is acquiring Tropicana Gardens Mall  in Tropicana Indah, Petaling Jaya for RM680 million. This acquisition aligns with IOIPG’s growth  strategy and enhances its footprint in the retail sector, providing an excellent platform to leverage  on its expertise. 

The seven-storey Tropicana Gardens Mall has a total gross floor area of 2.95 million square feet  and a net lettable area (“NLA”) of 1.05 million square feet with an occupancy rate of approximately  77%. The mall is connected directly to Surian MRT station and it is accessible via four major  highways. It is within the catchment of several matured townships such as Kota Damansara,  Sunway Damansara and Mutiara Damansara, as well as the upcoming Kwasa Damansara  development.

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Premium Outlet - Mall - Retail

Knight Frank Malaysia: Not many are spending and yet more retail space is coming

Every time my children tells me something they need or want to buy or when I promise them rewards for good academic achievements, I would usually look online at shopee.com Going to the malls to look for the items is usually not the first thought in my mind. In other words, when I spend on buying things, it usually happen online. Do I still visit malls then? Yes. It’s also a firm yes.

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