QUOTE(twincharger07 @ Oct 27 2012, 04:29 PM)
Mid-valley has all the important ingredient to be successful, located at the junction of major roads, good mix of tenants..
I am sure Setia Walk has most of the good ingredient in place to be successful but I am not sure MV is a direct comparison to this "enclose Mega Mall" vs "open Retail" concept...
Mega malls like MidValley, Sunway Pyramid and One Utama have a unique characteristic where they are not only "local shopping mall" but a Mega malls that able to attract crowds from more than 10km away.. Big Cinema, Big Anchor tenants, Big Bowling alley, huge halls and convention center to hold big events, Plenty of car park, and enclose with nice air-conditioning..
Other smaller malls like IOI Mall, Alamanda, Leisure Mall are more of local malls that only attract crowds from surrounding population.. even Setia Mall in Setia Alam likely more localized.
Setia Walk likely will be a local "retail outlets" which attracts crowd from Puchong.. If it aims to be Mega Mall Level, it has to pull out some special trick, really special mix of good tenants..
+1, not forgetting The Curve/IPC which is also another good example of "mega mall".I am sure Setia Walk has most of the good ingredient in place to be successful but I am not sure MV is a direct comparison to this "enclose Mega Mall" vs "open Retail" concept...
Mega malls like MidValley, Sunway Pyramid and One Utama have a unique characteristic where they are not only "local shopping mall" but a Mega malls that able to attract crowds from more than 10km away.. Big Cinema, Big Anchor tenants, Big Bowling alley, huge halls and convention center to hold big events, Plenty of car park, and enclose with nice air-conditioning..
Other smaller malls like IOI Mall, Alamanda, Leisure Mall are more of local malls that only attract crowds from surrounding population.. even Setia Mall in Setia Alam likely more localized.
Setia Walk likely will be a local "retail outlets" which attracts crowd from Puchong.. If it aims to be Mega Mall Level, it has to pull out some special trick, really special mix of good tenants..
SW is definitely a "local mall" for now imo.
Added on October 27, 2012, 11:22 pm
QUOTE(puchongite @ Oct 27 2012, 11:04 PM)
We need to separate the discussion between residential and commercial.
The residential part of SW will have a smoother sail.
The commercial part of SW will have a rougher ride.
It's a matter of fact that Puchong Jaya, Setia Walk and Bandar Puteri area combined have currently a surplus of commercial units. Those who have time can drive around to see how many vacant shop lots are there. Some already vacant for a few years. And that's not the end of the story, you will see IOI factory continues to produce more commercial units.
And those rented out their shop lots, most of them rent them below their targeted return.
If we are not careful, the puchong golden mile commercial units will be a live case study for the creation of bubbles.
+1The residential part of SW will have a smoother sail.
The commercial part of SW will have a rougher ride.
It's a matter of fact that Puchong Jaya, Setia Walk and Bandar Puteri area combined have currently a surplus of commercial units. Those who have time can drive around to see how many vacant shop lots are there. Some already vacant for a few years. And that's not the end of the story, you will see IOI factory continues to produce more commercial units.
And those rented out their shop lots, most of them rent them below their targeted return.
If we are not careful, the puchong golden mile commercial units will be a live case study for the creation of bubbles.
This post has been edited by 1282009: Oct 27 2012, 11:22 PM
Oct 27 2012, 11:21 PM

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