Classification of malls in the Klang Valley. Your favourite mall is under which one?
I learnt something interesting today. It’s about the classifications of malls. It’s not just big mall, small mall or dying malls yeah. It’s classified based on characteristics / concept, typical main anchor tenants as well as the net lettable area (sq. ft) Please do take a look at the image below from NAPIC. (Source here)
My favourite mall is 1 Utama Mall. This is the mall I frequent once every week and this is also the mall where I do NOT need to take a photo so that I remember where I park the car. Haha. For some malls, even after I take photo, I still could not remember where I parked my car sometimes. Based on the below image, 1 Utama mall is under “Super Regional” mall. What is your favourite mall then? Are they considered a neighbourhood centre or even a community centre? Happy referring to the below yeah.
4 ‘bigger’ types of malls
The smallest one is the Community Centre where this could be one of those retail and restaurant based building within the neighbourhood. For this, there’s usually 1-2 anchor tenants of which it could be supermarket and it’s size ranges from 50,000 to 200,000 sq ft. I think this is usually the one where the developer would build to provide convenience to the residents and it will add value to the community too. The stores need to be curated and preferably, the developer takes an active interest versus just simply selling all the lots…
We then have the Neighbourhood Centre and this is one where there is perhaps a department store and supermarkets too. There’s a wider range of goods and services on offer and size wise, it is usually 200,000 to 500,000 sq ft. For example? KL Gateway mall is 500,000 sq ft. I think it serves the neighbourhood with its range of shops.
Next would be Regional Centre. This is for malls which are 500,001 sq ft all the way to 1,000,000 sq ft in net lettable area. One mall in my mind which fits this description would be Paradigm Mall, Kelana Jaya with 700,000 sq ft in size. When I stayed in Kelana Jaya, I used to frequent Paradigm Mall as well and I think it has sufficient choices to cater to many different crowds too.
Lastly, we have the Super Regional. There are a few of these in my mind. For example, Sunway Pyramid Mall, MidValley Megamall, 1 Utama mall would qualify to be classified under the Super Regional. These are the malls which receives visitors from out of the neighbourhood and each one would have something special to offer to their visitors too. I visited MidValley just recently and the crowd is almost back to the normal times. With the reopening of Malaysia to the world, I think it will be a beneficiary too.
There are also more categories of malls too.
Happy knowing. Now you can classify that mall nearby your home correctly.
Property News Malaysia? Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER). Alternatively, Follow me on Telegram here.
Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.
Next suggested article: 5 Must-Do steps for property investment.