Sunway Malls says it has signed up 200 new tenants this year despite the impact of the Covid-19 pandemic.
Among the new retailers, several are making their debut in Malaysia in partnership with the group, including omnichannel fashion brand Pomelo, Singapore’s TRT, Shabuyo and Noko.
“Significantly, we are seeing an Asian renaissance whereby Asian brands from China, Japan, Korea, Thailand and many others are outpacing Western brands in terms of expansion in Malaysia,” said HC Chan, CEO of Sunway Malls and Theme Parks.
The increase in tenant stores this year is said to be the result of the growing emergence and accelerating expansion of Asian retail brands into the local retail scene which has picked up pace in the last few years.
According to the company, the 200 new retail outlets comprise 700,000sqft of net lettable area.
“This is comparable to opening a normal size mall with 100-per-cent occupancy,” added Chan.
About 45 per cent of new shops are retail while 35 per cent are food & beverage outlets. The ratio between international brands and local brands is balanced 41 per cent and 59 per cent respectively.
“The growing trend of F&B and leisure & entertainment segments in malls is not expected to ease off,” he said.
Chan also predicted that post pandemic non-retail will reach 50 per cent of the mall’s trade mix in the future.