PETALING JAYA: Capitaland Malaysia Trust (CLMT), whose properties include Gurney Plaza, The Mines and 3 Damansara shopping malls, is seeing a stable recovery in the retail segment. The tenant sales per sq ft in CLMT’s malls have exceeded the 2019 average by 5.3%, which TA Research described as “encouraging”. This is despite the fact that shopper traffic in CLMT’s malls was 19% below the 2019 average. According to TA Research, CLMT is actively seeking yield-accretive investment opportunities in existing and new asset classes in pursuit of inorganic growth. The biggest gainer in occupancy rate was the 3 Damansara mall due to the entry of a new supermarket anchor tenant, with an occupancy rate of 74.3% as at September 2022.

Source: The Star October 31, 2022 13:07 UTC