Published on: Tuesday, December 23, 2008 |
Kuala Lumpur: The retail property market is expected to experience slower growth next year in line with the current economic slowdown.
The advisor of the Malaysian Association for Shopping and Highrise Complex Management, Richard Chan said however, the sector would not slip into negative territory.
"Consumer demand is still there. I see no problem until Chinese New Year," he told reporters during an appreciation lunch for the recent FIABCI Malaysia-PPK Malaysia Seminar 2008 here Monday.
He added that the number of shopping complexes is expected to grow next year based on the current projects under development. "Quite a few more are coming up. All are ongoing projects and the take up is not bad. At the moment, the retailers are not in panic.
"But, we need the new Cabinet expected in March, to look at the economy and certain issues like electricity," he said. - Bernama
