Kuala Lumpur’s retail landscape is heading into a pivotal phase as more than 1.2 million square feet of new retail space is expected to come onstream. At first glance, the headline raises familiar concerns around oversupply and vacancy. Yet, for investors and the public who follow real estate trends closely, the more important question is how this new supply fits into broader shifts in tourism, consumer...
IKEA Malaysia, owned by Ikano Retail, recorded a turnover of RM1.46 billion for its financial year ended August 2024 (FY2024), marking a 4.2% decline year-on-year (YoY). This drop highlights the broader challenges facing the retail sector globally, with rising living costs and inflation impacting consumer spending. Ikano Retail’s Performance Across Key Markets Despite the drop in IKEA Malaysia’s...
Australian real estate group Lendlease announced during a media briefing on Thursday (Dec 8) that the experiential retail and entertainment component of the 17-acre The Exchange TRX will be unveiled in 4Q2023. The Exchange TRX is part of the 70-acre Tun Razak Exchange (TRX) development in Jalan Tun Razak, Kuala Lumpur. The retail and entertainment...
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