There are about 10 shopping malls in Kota Kinabalu today with 1Borneo as the biggest of them all. As I drove past many roads in KK, there are more buildings are on the rise. I guess developers are encouraged by the fact that packed malls on weekends and public holidays are a testament to shopping as a “national pastime” in Malaysia.
Yesterday, I took about half an hour just to find a parking spot at 1Borneo.
The place is quite crowded, although there is not even a single event or exhibition going on inside. People are just going down to spend time with family.
No longer like the 80’s where families spend their weekend at the beach, visiting relatives or friends or checking out wild animals at the zoo and checking out old stuff at the Museum.
How time has changed.
Malls Of Malaysia
Malls are a huge investment and each mall is said to cost around RM400 million to RM500 million. Yet, from just a handful of neighbourhood malls, many shopping centres have mushroomed in this country over the years. Even as newcomers enter the fray, existing malls opt for expansion and refurbishment to continue offering exciting retail experience to shoppers – those living in KK, just need to check out Karamunsing Complex to see that.
If you have just come back from a 5-year study overseas, you probably won’t recognise the mall anymore.
Well that’s in KK. How about the other places?
According to Star Online report, out of some 300 malls in Malaysia, half are in Kuala Lumpur and Selangor while a quarter of it are located up north and the rest are scattered in other parts of the country.
Malaysia Shopping Malls Association (PPK) president HC Chan said the shopping complex industry in the Klang Valley was now facing an oversupply. “Lately, there have been signs that some of the malls are failing and running on deficit. This is not good for developers and owners, retailers and consumers,” Chan said.
Is that so?
Then why do they continue to build more? Is it because they are developers, that they must build malls or other expensive properties in every single piece of available land?
How about developing recreational places and affordable housing for the poor?
I know many business owners think that renting inside the mall is good for their business. Of course, there are good crowd and many facilities. But the overhead cost for running business inside the mall is sky high. When mall owners and developers, as well as retailers, face higher business risk and lower profit margin, high costs would be transferred to consumers in terms of prices. Otherwise, they themselves have to close shop.
Well, not the building owners actually.
They just advertise and look for new tenants to do business there.
I hope the authorities and developers would study this matter seriously and make the best decision on which matters most – malls or affordable housing. By the way, I wonder how you all spend your time during the weekend – at shopping malls or somewhere else?
Be truthful please!
I’m conducting a research here. 😀