Sunway Ipoh Mall: A New Catalyst For Ipoh Property?

Sunway Ipoh Mall: A New Catalyst For Ipoh Property?

How many of kopiandproperty.com readers are from Ipoh? I am super sure there are many of us who have moved out of Ipoh to other places when we started our careers. Well, I love Ipoh and I do hope Ipoh will continue to grow. Somehow, being in the middle of Penang and Kuala Lumpur does have some advantages and disadvantages. Everyone could easily just go to Penang or Kuala Lumpur. The advantage? Well, if we could have more vibrancy, it’s also easy for people from Penang or Kuala Lumpur to drop by Ipoh too. Not sure what’s the next huge catalyst but for now, something exciting for Ipohans. Sunway Ipoh Mall is coming! Okay, it’s end of 2027 but hey, it’s still coming! Read all about it here:

Article in nst.com.my. Sunway Ipoh Mall has already secured tenants for 80% of its retail space, well ahead of its scheduled opening in Q4 2027. The RM1 billion mall will have 1.2 million sq ft of net lettable area, about 400 outlets and 25 key brands already confirmed. Seven will be anchor tenants while nine brands will enter Perak for the first time.

The mall will include Parkson Elite, Village Grocer, TGV Cinemas, Mr D.I.Y. Plus, Sunway Ice Rink, Sunway Ipoh Exhibition Centre and Sunway Megalanes. Other brands include MUJI, Decathlon, Harvey Norman, JD Sports, Padini and UNIQLO.

It will also feature Perak’s first ice-skating rink, a 36-lane bowling centre, 10-hall cinema, exhibition centre and Gourmet Garden.

The mall is expected to serve a catchment of about 2.5 million people across Perak and is part of the 1,350-acre Sunway City Ipoh township. Article in nst.com.my.

So, what does this mean for property?

For me, the interesting part is not simply that Ipoh is getting another shopping mall.

It is what the mall could potentially do to the overall attractiveness of the surrounding location.

#1 More reasons to live there (or maybe move there if you love a mall right next to you?)

A good mall gives residents more than shopping. Since this is Sunway City Mall, I think we will have a good one.

It provides restaurants, entertainment, groceries, cinema, sports and family activities.

That makes a township more convenient.

And when a place becomes more convenient, more people may consider living there.

Sunway City Ipoh already has Lost World of Tambun, Sunway Medical Centre and Sunway College. The mall adds another major component to the township.

#2 More economic activity

A large mall creates jobs. Retailers need staff.

Restaurants need staff. Entertainment facilities need staff.

There will also be suppliers, logistics, maintenance, security and other supporting businesses.

More economic activity can create more demand for housing nearby.

Again, this does not guarantee higher property prices.

But it can strengthen the fundamentals of the area.

#3 Better visibility for Ipoh

This is perhaps even more interesting.

Sunway says its research shows many Perak residents currently travel to the Klang Valley or Kuala Lumpur for shopping because of the lack of a Tier 1 mall in the state.

If the new mall successfully keeps more spending within Perak, it could strengthen Ipoh’s position as a regional shopping and lifestyle destination.

And tourism could benefit too.

People may come to Ipoh for food, attractions and shopping instead of treating it simply as a stopover.

#4 Property investors may have another reason to look at the area

For a property investor, I would not simply say:

“Sunway is building a mall, therefore property prices will increase.”

Too simple lah.

I would ask:

Is the property close enough to benefit?

Is the price still reasonable? If still reasonable, it meant there’s future growth potential too.

Is there genuine rental demand?

What is the existing supply?

And most importantly, will people actually want to live there?

A major mall can be a catalyst.

But a catalyst is not a guarantee of capital appreciation.

My view

Sunway Ipoh Mall is certainly an interesting development for Ipoh.

It adds another major component to an already large integrated township, and the 80% leasing commitment before opening is encouraging.

For the property market, the potential benefits are clear: better amenities, more employment, stronger commercial activity and potentially greater demand for nearby homes.

Of course, Don’t buy a property simply because a big mall is coming.

Buy because the property makes sense even after you consider the mall, the price, the rental, the location and the actual demand.

Happy property hunting.

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