More retail stock added to Iskandar Malaysia

Kuala Lumpur

ISKANDAR Malaysia's retail stock is expected to see a significant increase over the next two to three years as megamalls form a part of the masterplan of major township developments in the southern economic zone.

Iskandar's retail stock has doubled from six million plus sq ft in 2006 when average mall occupancy was 68 per cent to 12.34 million sq ft in 2014 and 77 per cent occupancy, according to Savills Malaysia which describes the zone's retail scene as "still small with a modest income segment, and a hefty dependence on the state population and Singaporean shoppers".