Latest news with #SunwayMalls
The Star
11-05-2025
- Business
- The Star
Mall group's 10th facility to open in PJ this September
Sunway Square Mall management announcing the opening of the upcoming new mall together with key tenants. Petaling Jaya will see a new shopping destination – Sunway Square Mall – opening in September in Bandar Sunway, Selangor. Spanning 300,000sq ft of net lettable area across four retail floors, it is Sunway Malls' 10th facility in the country. Sunway Square Mall emphasises leisure and entertainment. Key tenants include Village Grocer, Bump Bouldering, TGV Cinemas, The Library by BookXcess, Count, KKV, Tutu Toe Dance Academy and GoFit. With over 150 shops, the mall aims to blend lifestyle with leisure to cultivate learning, it said in a press statement. It will feature a wide array of F&B outlets to cater to the surrounding office, student and residential communities. It also has 3,000 integrated parking bays. Sunway Square is the latest development in Sunway City Kuala Lumpur, comprising twin commercial towers, a 1,200-seater performing arts centre and a 24-hour library with several million books. 'Sunway Square Mall is part of Sunway Square, a development designed to integrate a multi- faceted range of spaces, catering to the arts, commerce, education and business,' said Sunway Malls chief executive officer HC Chan. He said leisure, food and entertainment offerings had become increasingly important drivers. 'Across our malls, we saw a robust F&B performance persisting after the (Covid-19) pandemic. 'Today, F&B outlets have increased to above 25% of total mall tenants. A decade ago, F&B only took up 15% of a mall.' Sunway Malls reported a full-year growth of 5% in 2024 year-on-year. The year-end festivities saw December's sales performance growing by 5.6% despite a shorter school holiday season. The momentum continued to the first quarter of 2025, with Chinese New Year and school holidays. Sunway Malls' strongest hold is over the Klang Valley, forming 67.2% of the mall group's total net lettable area. The southern region currently forms 15.8% and the northern region, 17%. Sunway is also building another two malls, slated to complete in 2027 – Sunway Pier with a retail space of 400,000 sq ft in Port Klang and Sunway Ipoh Mall with a retail space of 1.2 million sq ft in Sunway City Ipoh. Another RM3bil mixed-used development located adjacent to the Bukit Chagar Rapid Transit System (RTS) Link station in Johor, will also feature a 400,000 sq ft retail space in 2028. The mall group is primed to own 13 malls with 8.2 million sq ft of net lettable area.
Hype Malaysia
30-04-2025
- Business
- Hype Malaysia
Sunway Square Mall: 5 Facts About The Upcoming Shopping Centre
Malaysians are well acquainted with Sunway Malls and their many shopping centres across the country. The company has now introduced the latest addition to its family: Sunway Square, located in Sunway City, Kuala Lumpur. Overlooking Sunway South Quay lake, the shopping centre marks another step towards fulfilling the vision of Sunway Group founder and chairman, Tan Sri Sir Dr Jeffrey Cheah KBE AO, in establishing Sunway City KL as a vibrant ecosystem of educational excellence in the region. Let's take a closer look at the upcoming mall: 1. It is Sunway Mall's 10th shopping centre Sunway Malls currently owns nine shopping centres across the country, including Sunway Pyramid in Kuala Lumpur, Sunway Velocity in Cheras, and Sunway Big Box in Johor. The upcoming Sunway Square Mall will become the company's tenth mall in Malaysia, marking a major milestone. 2. It will focus on entertainment and leisure If you think Sunway Pyramid is already a hub for entertainment, the new one might become your next best stop. According to the announcement, Sunway Square Mall will focus heavily on leisure and entertainment as its main highlights. The key tenants unveiled include Village Grocer, BUMP Bouldering, TGV Cinemas, The Library by Book Xcess, COUNT, KKV, Tutu Toe Dance Academy and Go Fit. 3. It is already 95% leased Speaking of tenants, the mall is on its way to give shoppers the best services they can offer, as it's already 95% leased with over 150 shops ready to open. Simultaneously, Sunway Square Mall will also feature a wide array of F&B to cater to the surrounding office, student, and residential communities. 4. It will have 2 corporate towers Every shopping centre requires a corporate office to operate. At Sunway Square, there will be two corporate office towers: Sunway Square Corporate Tower 1 (21 office floors) and Sunway Square Corporate Tower 2 (23 office floors). Together, the buildings offer approximately one million square feet of modern, sustainable office space designed for multinational industries. 5. It will open this September While there is no exact date for the grand opening, Sunway Square Mall is expected to open its doors to the public this September. So, be sure to mark your calendars and follow the Sunway Square Mall's official Instagram page for more updates on what you can expect to experience later this year. Bonus: It will include a concert venue (?) Of all the Sunway Malls in Malaysia, Sunway Lagoon, an extension of Sunway Pyramid, is the only one that has hosted concerts and music festivals over the years. So, will Sunway Square include a proper concert venue? The shopping centre's Instagram page teased shoppers with what they can expect, featuring images of live performances in the teaser. At the time of writing, no confirmation has been given, but such a venue would certainly help the upcoming mall stand out. Are you excited about Sunway Square Mall's opening?
New Straits Times
30-04-2025
- Business
- New Straits Times
Sunway Malls aims to sustain 5pct growth in 2025 despite softer GDP outlook
KUALA LUMPUR: Sunway Malls is confident of maintaining its 5 per cent growth momentum in the current fiscal year, mirroring its performance in 2024, despite recent gross domestic product (GDP) downgrades by the International Monetary Fund (IMF) and World Bank. Chief executive officer Chan Hoi Choy said the group has consistently outpaced both industry and national GDP growth over the past two decades. "Our mall business is closely tied to the country's GDP growth, with millions of transactions recorded annually. Whether customers spend RM5 or RM5,000, the data across millions of transactions clearly reflects consumption trends. "Historically, Sunway Malls has consistently outpaced national GDP growth, and we expect to continue this trend," he said during the unveiling of the group's 10th mall, located in Sunway City, Kuala Lumpur. Sunway Malls, the country's largest mall owner-operator by total retail space and number of properties, recorded a 5 per cent year-on-year increase in 2024. December sales rose by 5.6 per cent despite a shorter school holiday season, and the strong momentum continued into Q1 2025, fuelled by festive and school holiday spending. Currently, the Klang Valley remains the group's core market, contributing 67.2 per cent of total net lettable area (NLA), followed by the northern region at 17 per cent and the southern region at 15.8 per cent. Looking ahead, Sunway Malls is ramping up its retail expansion with plans to open Sunway Pier in Port Klang, Selangor, and Sunway Ipoh Mall in Sunway City Ipoh, Perak, by 2027. Sunway Pier will offer about 400,000 square feet of retail space, while Sunway Ipoh Mall is poised to become one of the group's largest malls with 1.2 million square feet of net lettable area (NLA). In addition, the group's footprint will be further strengthened through an RM3 billion mixed-use development near the Bukit Chagar Rapid Transit System (RTS) Link station in Johor Bahru. Scheduled for completion by 2028, the development includes a 400,000-square-foot retail component. With these projects in the pipeline, Sunway Malls is on track to grow its portfolio to 13 malls by 2027, collectively offering 8.2 million square feet of NLA. Chan also noted that future asset injections into Sunway REIT are expected to enhance the group's integrated property and investment platform. Meanwhile, Sunway Square Mall, set to open in September, will span 300,000 square feet across four floors, housing over 150 retail outlets and offering 3,000 parking bays. Chan noted that 95 per cent of the mall's retail space has already been successfully leased, with the remaining 5 per cent strategically reserved for tenants capable of delivering dynamic, high-engagement consumer experiences.
The Star
29-04-2025
- Business
- The Star
Sunway Malls to launch Sunway Square Mall in September
An artist's impression of Sunway Square Mall PETALING JAYA: Sunway Malls will be unveiling its 10th mall, the Sunway Square Mall, in September this year. To be located at Sunway City Kuala Lumpur, the mall will span 300,000 sq ft and have a net lettable area across four retail floors. Sunway Malls said Sunway Square Mall is already 95% leased. 'Unlike conventional malls, Sunway Square Mall places emphasis on leisure and entertainment as its key differentiator. The key tenants unveiled include Village Grocer, BUMP Bouldering, TGV Cinemas, The Library by BookXcess, COUNT, KKV, Tutu Toe Dance Academy and GoFit. 'With over 150 shops and 3,000 integrated parking bays, the mall aims to blend lifestyle with leisure to cultivate learning and growth. Simultaneously, Sunway Square Mall will feature a wide array of food and beverage (F&B) to cater to the surrounding office, student, and residential communities,' said Sunway Malls in a statement. The group added that Sunway Square Mall will comprise twin commercial towers, a world-class 1,200-seater performing arts centre and a 24-hour library with several million books. Sunway Malls chief executive officer HC Chan said Sunway Square Mall is part of Sunway Square, a visionary development designed to integrate a multifaceted range of spaces, catering to the arts, commerce, education and business. 'The mall plays a pivotal role as a trendy social hub in Sunway City Kuala Lumpur, reflecting the changing lifestyles of urban dwellers with leisure, food and entertainment offerings becoming increasingly important drivers. 'Across our malls, we saw a robust F&B performance persisting after the pandemic. Due to continuous resilient out-of-home dining, F&B outlets increased to above 25% of total mall tenants today. A decade ago, F&B only took up 15% of a mall.' Sunway Malls Selangor senior general manager Jason Chin said he is confident in the strategy to helm a mall specialising in leisure, food and entertainment. 'Looking at current trends, consumers today are often on a lookout for places to engage, either over a cup of coffee, a good meal, or via sports activities. 'They want to live what they see on their screens and share their experience via their own social platforms. The artistic designs of Sunway Square Mall combined with innovative elements and a vibrant tenant mix will serve this purpose.' Sunway Malls reported a full year growth of 5% in 2024 year-on-year. The year-end festivities saw December's sales performance growing by 5.6% year-on-year despite a shorter school holiday season. 'The momentum continued to the first quarter of 2025, with Chinese New Year and the school holidays,' said Sunway Malls.
The Sun
28-04-2025
- Business
- The Sun
Sunway Malls confident of sustaining 5% growth
KUALA LUMPUR: Sunway Malls, Malaysia's largest mall owner-operator by total retail space and number of properties, is confident of sustaining the 5% growth achieved in 2024, despite recent downward revisions to Malaysia's GDP forecast by the International Monetary Fund (IMF) and World Bank. Sunway Malls CEO Chan Hoi Choy said yesterday the group has consistently outperformed both industry growth and Malaysia's GDP growth over the past two decades. 'Our mall business is closely tied to the country's GDP growth, with millions of transactions recorded annually. Whether customers spend RM5 or RM5,000, the data across millions of transactions clearly reflects consumption trends. 'Despite a challenging outlook, we are confident of achieving 5% growth again in 2025. Historically, Sunway Malls has consistently outpaced national GDP growth, and we expect to continue this trend,' he said during a press conference at the unveiling of its 10th mall. Chan added that malls, like banks, are an economic parameter of the nation's health because banks give out hundreds of billions of dollars and similarly for malls, where billions of dollars are spent. 'We also reflect the economic health of the nation. So banks and malls, I think, have that similarity that measures the economic health of the nation. Obviously for Sunway Malls, we always like to outperform the GDP growth.' Sunway Malls reported a full year growth of 5% in 2024 year-on-year. The year-end festivities saw December's sales performance growing by 5.6% y-o-y despite a shorter school holiday season. The momentum continued to the Q1'25, with Chinese New Year and school holidays. The mall group is also expecting the re-opening of a fully refurbished Sunway Carnival Mall in Seberang Jaya, Penang, in May. Sunway Malls' strongest hold remains to be in Klang Valley, forming 67.2% of the mall group's total net lettable area. The Southern region currently forms 15.8% and the Northern region 17%. In the pipeline, Sunway is also building another two malls slated to complete in 2027 – Sunway Pier with a retail space of 400,000 sqft in Port Klang, and Sunway Ipoh Mall with a retail space of 1.2 million sqft in Sunway City Ipoh. At the unveiling of its 10th mall – Sunway Square Mall – Chan said it has achieved a 95% leasing rate ahead of its opening in September. The new mall spans 300,000 square feet across four retail floors, housing over 150 shops and 3,000 integrated parking bays. Chan said the mall forms part of the larger 2.3 million square foot Sunway Square development, which will also house a 1,200-seat performing arts centre, the region's largest bookstore with millions of titles, and two premium corporate office towers. 'The integrated township attracts 42 million visitors every year. The mall will certainly gain from good cross traffic from the two corporate towers with a working population of 10,000 office workers. In addition, the 600,000 square feet campus with the Sunway School of Art and the School of Business with a capacity of 8,000 students is expected to bring a greater vibrancy too. Today, within the 2km radius of Sunway Square, there are already more than 60,000 tertiary students,' he said. Sunway Square is the latest development in Sunway City Kuala Lumpur comprising twin commercial towers, a world-class 1,200-seater performing arts centre and a 24-hour library with several million books. For the longer term, Sunway Malls is expected to grow its portfolio of malls through both upcoming developments and Sunway REIT acquisitions.
