Curve is dead mall .... if without Ikea,,, will be closed down long time ago

Current mall tenants are quite good, but unfortunately, the roads are not very accessible as compared to 1u

mall with access in 4 directions will become ong mall... if only one or two access.... normally will be dead

Mall players are hardcore veterans. I remember hearing my friend asked for a place to rent in 1U. They have to pay for alot of things for example, extra fees during festive decorations at the oval, and they also will impose rules that you need to upgrade or renovate the shop u run for business once every few years to make it look nice and neat. In return they will do the same.

But on the other hand I somewhat believe this work to bring visitors better. I mean compare with curve, that the place is so run down. 1U renovated both their wings twice more than the curve. U see the difference.

This one not really their fault. 3 Damansara was popular for a while. It’s more Starling Mall + Jaya One combo that killed them for this particular stretch. No competitive advantage - one has food, the other has pets. You can’t survive as a generic mall nowadays. Need to lean in heavily on some niche.

This post has been edited by Cavatzu: Jul 25 2024, 07:31 AM

Further info...The TGM deal is selling at a "discount"...


"Tropicana said the divestment of TGM is expected to result in an estimated net pro forma loss on disposal of RM267 million, given that the building cost of the mall amounted to RM867.28 million while the land cost was RM2.72 million.

In a note yesterday, TA Securities said the acquisition price of RM680 million is notably below the mall’s net book value of RM944 million, representing a 28% discount."

https://www.freemalaysiatoday.com/category/...ioi-properties/

loss on construction building cost, but "earn" on the land cost lo. that piece of land Market value confirmed more then RM 2.72mil..

Remember they acquire 7 acre lands opposite at RM 224 mil last year.....but of course haven taken into account their finance cost for the building. so most likely still loss but not as severed..

This post has been edited by Rinth: Jul 25 2024, 12:41 PM

the knew their ability ... just can be normal developer to build housing only..... is good to dispose an asset they unable to manage well....

Cannot fight 1u

Any latest progress photo?

As of 29 Sep 2024

Ok

This post has been edited by Tan&tan: Oct 22 2024, 01:52 AM

Haven't finished construction for top floors.....

don't think can VP by end 2025....

https://www.thestar.com.my/business/busines...00-take-up-rate

Structure topping off done.

Reached top & finished construction for top is different....

Tropicana Miyu finished top floor construction a years ago and till now not VP yet...

https://www.facebook.com/share/r/15Ma6GSzz1/
IOI Mall Damansara rebranding started.

This post has been edited by lotep: Nov 30 2024, 01:55 PM

Latest estimation on completion date?