Everybody so gangho with pav2 which still havent laid a brick yet.

Buy on rumours
Sell on fact...

Damen will be the good gauge on how Pavi 2 mall in BJ

In our kinda competitive retail biz, size of mall matters alot. Needless to say, Pavilion Bukit Jalil, often known as Pavilion 2, will be a very big one and with many thousand carpark bays (can't disclose the amount).

Pavilion Bukit Jalil will be a very different mall compared to the rest of malls that is operated by them currently and in the market today.

The frequent upgrade in design of the mall tells you that the developer/owner group is constantly wanting the best of trends and design for the mall. In case readers didn't know, the mall has its own retail architect - designed by Westfield-hired Leonard Design based in the UK.

Several renderings of The Park 2 showed that a portion of the development would face the very happening outdoor plaza outside the mall. Now this is gonna be a game changer in terms of vibrancy and how they designed the waterscapes that lined the terraces of F&B cabanas and decks.

Pavilion Bukit Jalil is often compared to Pavilion KL, but in reality, it's a different target market. Here we are facing 99% local population and the mass markets. However, if you study Pavilion KL, only a section/row of the malls are dotted with designer brands. Majority of its tenant mix are appealing to locals as well as foreign tourists. And majority of those tenants are already present in suburban malls like Sunway Pyramid and 1 Utama, which does include the potential of Pavilion Bukit Jalil hosting them in the future.

If look for investment . Avoid any projects in bk jalil.
Dont listen to agents
Except own stay.

Pavi 2 will be just like Damen in usj which run by pavi

This post has been edited by propertybbb: Sep 24 2016, 09:11 PM

Big size mall matter? Pandai Bullshit. Try to push sale and trap more pipu? Many mid/ small size mall doing very well. Even the small/medium mall close to big mega mall... Their biz also unaffected. Some even don't have cinema but still doing very well.

U think pavilion kl doing well? I tell you now many big size mall trying hard to keep their tenants. Even hot and famous big size mall facing the jialat same problem now.

Funny fact is many doing well small and medium size malls are sibeh steady. Tenants are sibeh happy to keep renting.

This post has been edited by HELLO HELLO: Sep 24 2016, 09:47 PM

Yes, just take a look at midvalley,
last time during weekend its crowded, but nowadays its less ppl.

There are two sides of a coin when talking about retail industry today. There are no clear conclusion as the facts may vary according to circumstances during this challenging times.

First of all, I'm talking in the perspective of a mall operator not a retail shop owner. A mall that generates income growth continuously, example like those in the REITs does not necessarily mean that an individual retail shop tenant they have are doing well.

Yes size is necessary to bring anchor tenants. And at this times, yes, it is not necessary that big malls will mean better (refer to this week's Focus M), but generally this is the rule of thumb for retail consultants advising developers. This is the worst case scenario. Anchor tenants pay the lowest rentals but they are required to bring the traffic footfall, at least this is my opinion.

I worked with some of the biggest names in retail consulting as I was working in a developer. Retail consultants adviced us not to build malls that are too small like less than 300,000 sq ft as we will be neither big or small, and if small, we will not be able to achieve sufficient footfall for tenants and we will not be able to bring anchors (small also means lesser carparks).

Only a very small % of small to mid-sized malls are doing well, at least financially. Bangsar Shopping Centre used to be one of the top performer for neighbourhood mall. Mind you, the shops in Solaris Dutamas are not part of Publika Mall management and in Publika, anchors like BIG contribute almost majority of their income while the rest are not doing really well. Alot of neighbourhood malls like Cheras Leisure Mall and Main Place Mall are heavily dependent on certain F&B tenants and key tenants like their supermarket and they do not necessarily reflect growth in mall operator's' income because some of these tenants rental rates are low to begin with especially supermarket.

In recent times, out of a dozen malls that opened over the last many years, most of them neighbourhood malls, most of them don't do well. One mall that might stand out is probably the best of all of them is IOI City Mall, which is a big mall, not a neighbourhood mall.

Pavilion KL has a net lettable area of 1,335,119 sq ft with a gross floor area of 2,202,557 sq ft, and hence its a mid-sized mall that we have. There is no word that I was saying it was doing well, although on the mall operator level, there is a relatively so-so income growth (read Pav REIT) due to renewals and higher rentals for some tenants. On the individual retail tenant perspective, not all tenants are doing well, and yes there are tenants that have sales crunch during this times.

Some of our big malls do practise accrued rentals... so some tenants have been owing their rental payments for months. Many malls today also do track their tenant's sales performance. But the bottomline is some of our more established, big malls are still able to RAISE rental income especially towards F&B tenants signifying income growth.

For the size that Pavilion BJ has, I think it has great potential and it has a great chance of succeed if you look at their brief. It has large cineplex, a large entertainment feature and large foodcourts and these will drive the traffic of its catchment market Mad.


(The most recent mall leasing event that I attended is EkoCheras Mall. It might look quite promising but I have comments which is another day's topic.)

This post has been edited by accetera: Sep 24 2016, 11:16 PM

Currently, Sunway Pyramid, One Utama, Midvalley, KLCC, Pavilion are those top 5 mall in Malaysia with highest PSF on NLA as valued by DTZ Nawawi Malaysia.

From Geographical location analysis, Each and every 5 malls above are strategically located in matured and developed townshipsssss.

To me, it's still too early to comments on the successfulness of PV2 due to surrounding area, so far, has no similar competitor to benchmark.

Eventually, since this mall is located between IOI Puchong and THe Mines.

So, it may gain some advantages if both of these malls are not doing well.

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Thanks you for your detailed explanation. Very well professional elaborated. Thanks for enlighten us.

Once involve own benefits, money, no one can be neutral despite how hard they try to act as profesional or neutral

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15k fully refund cheque deposit , for mid-Oct unit selection， Nov s&p.

no package info , no show unit yet.

as now less then 100 cheques received.

pasarbealla has been pending for opening for almost 9 months in damen and still NOT open yet.. even weekend crowd does not looks good at all except for LG floor..

and their F88 mall also not doing well as well..

May I know current selling price psf?

TQ

Also interested to kNow.

Another premium and giant project, damn premium looking and luxury. Only 709 units and 10 Units a floor, wow, such low density for luxury condo! 850 psf to buy a 950sqf unit is luxurious. ONE carpark for 2+1 room, damn luxury, if need another carpark can rent from the mall, everyday just walk back home and pay few hundred extra, besides the cheap Maintenance fee, great! Another great famous developer well taking care of buyers.

For sure the mall will succeed. But how's the condo?

This post has been edited by terrykow: Sep 25 2016, 04:11 PM