DTZ: Kuala Lumpur retail segment resilient in spite of April 2015 GST introduction
In a Property Times report, DTZ observed that the occupancy rate in Kuala Lumpur’s retail market had remained high – at around 90% - in spite of slippage in consumer sentiment following the introduction of GST at the beginning of April 2015. Over the course of 2015, the Sunway Velocity and Glomac Damansara malls should add around 1.4mn square feet of lettable space to total stock, which is around 25mn square feet. Other new malls should add nearly 2mn square feet in new space through 2016 and 2017.
Source : August 2015/DTZ/Kuala Lumpur/RET