Close shop related thread

[The_King]

 

[The_King]

[chamfer]

 

[chamfer]

 

[chamfer]

 

[socrates469bc]

On 3/2/2022 at 9:11 PM, The_King said:

 

On 3/20/2022 at 11:44 PM, chamfer said:

 

 

hk return to motherland for less than 30 yrs and economic reform only 43 yrs old.

 

tiongland comes to this.

 

song bo, Comrade Deng??????

 

wahahahahahaha

 

[chamfer]

 

[socrates469bc]

limpeh never seen shanghai nanjing east so quiet, not even on my morning jog.

 

wahahahahahahaha

 

 

 

[chamfer]

 

[socrates469bc]

9 minutes ago, chamfer said:

 

 

limpeh can never understand why dbs vickers can give buy rating for retail reits.

 

https://www.dbs.com.sg/treasures/aics/templatedata/article/equity/data/en/DBSV/012014/SUN_SP.xml

 

Suntec REIT

---

Quick View

Target Price*S$ 1.9

Recomendation**BUY

Market Cap*S$ 4422m

Bloomberg CodeSUN_SP_EQUITY

Publication Date2022-01-27

*At the time of publicatio

[The_King]

Beneath the glitter of Malaysia’s IT city Cyberjaya, a slow decline appears to be taking place, perhaps most clearly seen in its real estate segment which has been struggling to stay afloat in the aftermath of the Covid-19 pandemic.

While it once aspired to become the country’s Silicon Valley, throughout the city, a number of luxury condominium complexes are now falling into disrepair – abandoned, neglected and bleeding tenants.

The Place, located less than 220m away from Limkokwing University of Creative Technology (LUCT), is one of them.

Once the top choice for students from both within and outside of the country, its exclusivity meant that monthly rental for its residential units could run into the thousands.

Its commercial units meanwhile were known for services rarely found at other condominium developments including a gym, clothing boutiques, bars and cafes.

Today, fewer than 10 units are still in operation including two convenience stores, a stationery shop and a restaurant newly opened this year.

Elsewhere, The Domain@NeoCyber, a serviced apartment complex completed in 2009, now stands mostly empty.

Such condominiums were initially targeted at knowledge workers – professionals such as engineers, doctors, bankers, accountants, lawyers and scientists – in line with Cyberjaya’s role as a key part of the Multimedia Super Corridor, an ambitious project launched by former prime minister Dr Mahathir Mohamad.

But even before the onset of the Covid-19 pandemic, Cyberjaya was far from the bustling, smart city metropolis envisioned at its establishment in 1997.

Many buildings with their futuristic designs lacked the buzz needed for a thriving real estate market, but a host of university campuses provided a lifeline for home owners who could rent out their units to international students for a reasonable rate.

That lifeline was taken away when the pandemic struck.

Now, real estate analysts say the city has all but failed to achieve its goals.

Neglect is evident at The Place, where facilities such as the swimming pool have fallen into disuse.

Adzman Shah Mohd Ariffin said Cyberjaya was meant to be an organic city where knowledge workers would work and live, and where businesses like overseas bank branches, database services and customer service centres would thrive.

“Cyberjaya’s growth should have been organic,” he told MalaysiaNow.

“But it strayed from its goal and instead became a student town.”

Adzman said the presence of so many students had caused working professionals to look elsewhere for accommodation.

The city itself meanwhile morphed into an investment centre for residences to be rented out to college and university students.

While students rented in large numbers, their tenancies were short-term and did not contribute towards increasing the value of property.

Nevertheless, buyers began targeting students, and when business in the education sector began to decline due to Covid-19, the impact on the residential units was massive.

“Residential units were dumped,” Adzman said.

“In NeoCyber, most of the units have been sold but there are no tenants. When there are no tenants and the owners themselves do not live there, there is no money for maintenance.

“This is why many of these places become dirty, damaged and abandoned.”

Just about three years ago, The Place and The Domain were seen as dream homes for those who could afford the rent.

But a property agent who spoke to MalaysiaNow said rental at The Place had dipped as low as RM1,200 a month, with many owners lowering this to RM900 or even RM800 since the onset of the pandemic.

Foreign students, who made up half of the tenants there, had to cancel their agreements and return to their home countries.

A large number of students also stopped studying at LUCT, which a source attributed to the university no longer offering several undergraduate degree programmes.

Just three years ago, one would be lucky to find vacant units at The Place.

Today, though, its grand lobby is silent and empty, a pale shadow of its former appearance. In the basement, many parking units are vacant and only one security guard stands watch at the far end. The pool meanwhile lies abandoned.

“Some people came, thinking of renting a unit here because it used to be beautiful. But when they saw things like this, they left to look at other places,” said a maintenance worker.

MalaysiaNow is attempting to contact the management for further clarification of the situation.

The residential units – studio apartments and duplex units measuring less than 1,000 sq feet – are now mostly occupied by working singles.

One of them is Ahmed, who has lived at The Place since 2018, when he completed his studies.

“I work from home because of the pandemic, and I attend meetings online nearly every day. But it’s quiet, so I don’t worry.

“The view is nice too, with lots of greenery. It makes me less stressed,” he said.

Adzman, who has more than 30 years of experience in property research and analysis, said he used to make nearly RM2,000 a month renting out just one residential unit at NeoCyber.

“But all that’s just a memory now,” he said. “Now there is too much dumping of unrented units. It’s an oversupply.”

Adding that not enough was being said about the issue, he described Cyberjaya as “problematic”.

“It’s too focused on the external. It looks grand and full of life, but it has problems.

“It’s a pity – for a smart city, it’s not that smart.”

[socrates469bc]

[The_King]

5 minutes ago, socrates469bc said:

Much better then the SG industry park in china

[socrates469bc]

10 minutes ago, The_King said:

Much better then the SG industry park in china

 

the idea of a tech park is good, just the execution goes wrong.

 

this is the most successful hi-tech park in asia so far.

 

 

 

[The_King]

Despite Malaysia’s reputation as a country with a penchant for shopping, several malls in the capital city appear to be at risk of shutting down, with barely any of their commercial units still occupied and a drop in the number of shoppers and visitors.

It is a situation exacerbated by the onset of Covid-19 which left the economic sector reeling from the consecutive lockdowns imposed since early 2020 in a bid to keep the spread of the virus under control.

And it is a situation that threatens to continue even with the country’s transition towards the endemic phase which began earlier this month.

MalaysiaNow’s recent visit to a well-known shopping complex in Ampang, Selangor, found the three-storey building a ghost of its former self.

Nearly 90% of the shoplots were unoccupied while the few that were open were mainly traditional massage parlours.

It was not always like this for the Galaxy Ampang Mall in Taman Dagang. Not too long ago, it was bustling with activity, drawing crowds every day which came for its entertainment centre, cinema and branded boutiques.

Visitors were also spoiled for choice in terms of restaurants and eateries, winning the mall a loyal following of customers.

Once upon a time, it was filled with locals who came to shop and to spend the day with their friends and families.

It was also active on social media, with a community group on Facebook for promotions, announcements, and FAQs.

The last time the group was active appears to be mid-2019.

A salon owner named Casey said she used to be able to make RM40,000 a month tending to customers who came flooding in every day of the week.

Now, though, things are very different.

“I can’t do anything,” she told MalaysiaNow. “The management doesn’t help either. I have been forced to look for somewhere else to invest.

“Renovation, building entrance costs and deposits are all high,” she added. “I also have to make a living.”

Digitalisation

One factor behind the shift in fortunes for malls such as Galaxy Ampang is customers’ move to the world of online shopping.

Even long-time anchors such as cinemas have been affected, with many film buffs now choosing to stay at home and watch movies or TV series on Netflix.

V Ravindran, chairman of the Selangor Shopping Center Entrepreneurs and Dealers Association, said some malls were sinking beneath the weight of their financial problems.

He said many companies and business owners had told their workers to concentrate on offering online services which takes away the need for a physical premise.

Many workers have also been let go in order to save on operating costs.

“The managements can no longer attract customers,” he said. “They haven’t made any improvements and they are still using the same approach even though so much has changed since the onset of Covid-19.”

Speaking to MalaysiaNow, Ravindran said customer behaviour had changed.

“They should consult experts to see how they can attract customers to return to their malls,” he said.

Ravindran’s organisation estimates that more than 30% of businesses at malls in Selangor have closed shop over the past two years.

He said this trend would likely escalate if no action is taken by the mall managements.

One problem is a lack of representation which leaves shop owners and tenants with nowhere to turn for the protection due to them.

Ravindran said many decisions are made by mall owners without taking into account how they might affect businesses under their roofs.

Not a soul is in sight at mid-morning at the Galaxy Ampang Mall.© Provided by MalaysiaNow Not a soul is in sight at mid-morning at the Galaxy Ampang Mall.
In countries such as the UK, a number of cities are attempting new policies to fill the vacancies left in derelict shopping centres, including renovating such buildings to turn them into office space or accommodation to be rented out to students and young people.

Analysts largely agree that leaving a building unoccupied incurs high maintenance costs.

MalaysiaNow is attempting to reach the management of Galaxy Ampang Mall for a response.

Hanging on

Another mall in Petaling Jaya, Selangor, meanwhile, is still clinging to life despite the pandemic storm of the past two years.

Centrepoint Bandar Utama was once the hangout spot for locals who would flock to the complex at all times of the day.

While its coffee houses, cafes and restaurants once drew crowds, now, visitors are few and far in between.

MalaysiaNow’s visit to the mall found a handful of shops still open but devoid of customers.

Jasmindeer Kaur, a housewife who had come to buy kitchen utensils, said the Centrepoint held many memories for her and her children.

On weekends, she and her family would come to go shopping and to enjoy a meal together. Her children, meanwhile, would meet up with their friends there after school.

But now, all that’s left are memories.

While customers still come to Centrepoint Bandar Utama, things are a far cry from the crowds that used to visit.

Jasmindeer said her children no longer think to mention the mall when they talk about where to go for a walk.

“I’m glad there are still places like the supermarket here,” she said. “That makes it easy for me to pick up the odds and ends that I need without having to drive out.

“In any case, I still come here because there are a lot of sentimental memories for me and my late husband. This was where we would spend our time together as a family.”

[The_King]

with the 2 yr WFH. i dont think shopping center will be like last time unless it so much cheaper . e com will win

[socrates469bc]

12 minutes ago, The_King said:

Despite Malaysia’s reputation as a country with a penchant for shopping, several malls in the capital city appear to be at risk of shutting down, with barely any of their commercial units still occupied and a drop in the number of shoppers and visitors.

It is a situation exacerbated by the onset of Covid-19 which left the economic sector reeling from the consecutive lockdowns imposed since early 2020 in a bid to keep the spread of the virus under control.

And it is a situation that threatens to continue even with the country’s transition towards the endemic phase which began earlier this month.

MalaysiaNow’s recent visit to a well-known shopping complex in Ampang, Selangor, found the three-storey building a ghost of its former self.

Nearly 90% of the shoplots were unoccupied while the few that were open were mainly traditional massage parlours.

It was not always like this for the Galaxy Ampang Mall in Taman Dagang. Not too long ago, it was bustling with activity, drawing crowds every day which came for its entertainment centre, cinema and branded boutiques.

Visitors were also spoiled for choice in terms of restaurants and eateries, winning the mall a loyal following of customers.

Once upon a time, it was filled with locals who came to shop and to spend the day with their friends and families.

It was also active on social media, with a community group on Facebook for promotions, announcements, and FAQs.

The last time the group was active appears to be mid-2019.

A salon owner named Casey said she used to be able to make RM40,000 a month tending to customers who came flooding in every day of the week.

Now, though, things are very different.

“I can’t do anything,” she told MalaysiaNow. “The management doesn’t help either. I have been forced to look for somewhere else to invest.

“Renovation, building entrance costs and deposits are all high,” she added. “I also have to make a living.”

Digitalisation

One factor behind the shift in fortunes for malls such as Galaxy Ampang is customers’ move to the world of online shopping.

Even long-time anchors such as cinemas have been affected, with many film buffs now choosing to stay at home and watch movies or TV series on Netflix.

V Ravindran, chairman of the Selangor Shopping Center Entrepreneurs and Dealers Association, said some malls were sinking beneath the weight of their financial problems.

He said many companies and business owners had told their workers to concentrate on offering online services which takes away the need for a physical premise.

Many workers have also been let go in order to save on operating costs.

“The managements can no longer attract customers,” he said. “They haven’t made any improvements and they are still using the same approach even though so much has changed since the onset of Covid-19.”

Speaking to MalaysiaNow, Ravindran said customer behaviour had changed.

“They should consult experts to see how they can attract customers to return to their malls,” he said.

Ravindran’s organisation estimates that more than 30% of businesses at malls in Selangor have closed shop over the past two years.

He said this trend would likely escalate if no action is taken by the mall managements.

One problem is a lack of representation which leaves shop owners and tenants with nowhere to turn for the protection due to them.

Ravindran said many decisions are made by mall owners without taking into account how they might affect businesses under their roofs.

Not a soul is in sight at mid-morning at the Galaxy Ampang Mall.© Provided by MalaysiaNow Not a soul is in sight at mid-morning at the Galaxy Ampang Mall.
In countries such as the UK, a number of cities are attempting new policies to fill the vacancies left in derelict shopping centres, including renovating such buildings to turn them into office space or accommodation to be rented out to students and young people.

Analysts largely agree that leaving a building unoccupied incurs high maintenance costs.

MalaysiaNow is attempting to reach the management of Galaxy Ampang Mall for a response.

Hanging on

Another mall in Petaling Jaya, Selangor, meanwhile, is still clinging to life despite the pandemic storm of the past two years.

Centrepoint Bandar Utama was once the hangout spot for locals who would flock to the complex at all times of the day.

While its coffee houses, cafes and restaurants once drew crowds, now, visitors are few and far in between.

MalaysiaNow’s visit to the mall found a handful of shops still open but devoid of customers.

Jasmindeer Kaur, a housewife who had come to buy kitchen utensils, said the Centrepoint held many memories for her and her children.

On weekends, she and her family would come to go shopping and to enjoy a meal together. Her children, meanwhile, would meet up with their friends there after school.

But now, all that’s left are memories.

While customers still come to Centrepoint Bandar Utama, things are a far cry from the crowds that used to visit.

Jasmindeer said her children no longer think to mention the mall when they talk about where to go for a walk.

“I’m glad there are still places like the supermarket here,” she said. “That makes it easy for me to pick up the odds and ends that I need without having to drive out.

“In any case, I still come here because there are a lot of sentimental memories for me and my late husband. This was where we would spend our time together as a family.”

 

9 minutes ago, The_King said:

with the 2 yr WFH. i dont think shopping center will be like last time unless it so much cheaper . e com will win

 

towkay me alrdy saw the writings in 2008 liao.

 

and now this share is only worth sgd0.01

 

wahahahahahahahahhaha

 

[chamfer]

 

[socrates469bc]

8 hours ago, chamfer said:

 

 

no need go all the way to guangzhou.

 

just across the causeway alrdy got not one but at least 3 luxury condo projects on the way to be abandoned within 3km radius liao.

 

wahahahahahahahahahah

 

 

 

 

 

[The_King]

Carrefour

 

 

 

Hankyu Jaya

 

 

 

Makro

 

 

 

Yaohan




Farar

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ampang park

 

 

 

[The_King]

 

 

 

 

[The_King]

https://www.malaysianow.com/multimedia/2022/05/16/the-ghost-town-of-forest-city/

 

Residential buildings loom on one of the four reclaimed islands of Forest Cit As of 2020, fewer than 500 people lived in Forest City compared to the 700,000 originally targeted. Carnelian Tower 1, which houses the Forest City management office, stands in the middle of the project area. Despite the fanfare that accompanied its launch, the roads leading to the Forest City project are for the most part quiet and deserted. In keeping with the project’s name, many of the buildings feature greenery meant to give the illusion of living amid nature. Workers continue maintaining the shrubs around one of the buildings despite the project’s low occupancy rate. Not far off, a signboard has rusted and fallen over and now lies abandoned on the road. More greenery hangs over a row of shoplots, none of which appears to be occupied. Inside, dead leaves litter the ground, lending a ghostly air to the empty shops. Props are crammed into a shoplot advertised for use as a furniture store.

Still more shops stand devoid of customers with their shutters pulled down. A handful of tourists sit at a pop-up drinks stall. Outside, even the beach appears deserted with only a woman and her child taking pictures at the waterside. Further down the beach, there are signs of activity as jet-ski and banana boat operators wait for tourists. A sign in English and Chinese reminds largely non-existent tourists of prohibited activities. A small group of tourists chat at a playground still shiny-new and without the wear and tear normally associated with the presence of children. There are no children in sight at the water park, either. The Tuas link connecting Johor and Singapore can be seen in the distance, a 20-minute drive from Forest City. Of the four islands initially envisioned, only one is complete. An aerial view of the Forest City residential buildings – minus, it seems, the residents. Nearby stands the Tanjung Pelepas port from which some workers are said to be renting units at Forest City for RM700 to RM1,300 per month.

[Homelander]

This forest city become a pipe dream...getting the creeps 

[XianGe]

Surprised it even got blocks completed. Tiongland close = no one comes forest silly...

[socrates469bc]

limpeh alrdy said forrest city sure become forrest within 5yrs in 2018.

 

but it has a very good 18 hole golf course.

 

wahahahahahahaha