Pudu shopping centre proved that the entry of new malls within the Klang Valley does not necessarily mean the death of older ones.
Notably, the dying mall is now a bustling building with more than 90 percent occupancy rate.
The shopping centre got its new lease of life when Akisama Group subsidiary, Tegasplex Sdn Bhd, took over and managed it in 2012.
According to complex manager Kenneth Yeong, the management looked after the mall in a holistic manner which covered market needs, facilities, product appeal and promotions, among others.
He noted that they started by identifying its weaknesses, strengths, opportunities as well as threats.
“It has a great location near Bukit Bintang so we position ourselves to be one that offers affordable merchandise…We have one of the lowest parking rates among the malls in the vicinity. Striding in this direction, we have grown from 230 shops to 283 in two years,” said Yeong.
To provide a better shopping experience, tenants were reorganised while tenants with poor performance were replaced.
He revealed that rents now followed “zone rates” and rental collection had always been “zero debt.”
Meanwhile, the team had been proactive in the maintenance and inspection of the 25-year-old mall.
Yeong noted that there are various factors that could lead to the deterioration of a mall.
“Bad maintenance, bad tenants and feng shui challenges are some of the reasons. Careful analysis is required to deal with the problem,” he said.
“As for us, we do a lot of troubleshooting and maintain regular interaction with tenants. And above all, cutting red tape is paramount.”
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
