Hong Kong is poised to see its largest annual increase in mall space in two decades, with Colliers reporting an addition of 4 million square feet in 2024 across new development areas and non-core districts. This expansion aims to diversify shopping experiences and allow retailers to expand their reach. To bolster the retail sector, the government is raising the duty-free shopping quota for Chinese tourists. The quota will increase from 5,000 yuan to 15,000 yuan per trip for tourists entering via six designated land border control points. These measures are expected to generate HK$8.8 billion to HK$17.6 billion in additional shopping expenditure for the city.

Malaysia, home to 33 million people had over 1000 malls by the end of 2023, with 40% of them being located around the greater Kuala Lumpur area. While many of the Southeast Asian nation’s prime malls enjoy high foot traffic and near-full occupancies, many tenants of less popular malls are finding it difficult to compete amid an explosion in retail space. Even though, Malaysia’s retail space reached 180 million sqft in 2023, national occupancy rates for retail space were lower than before the pandemic, at 77.4 percent last year. Even malls in prime locations have failed to gain the expected traction. The TRX Mall which boasts 1.35 million square ft of leasable space and a 10-acre rooftop park, opened in November with 95 percent occupancy, underscoring effective mall management strategies and emphasizing strategic tenant selection, driving financial performance and enhancing customer satisfaction in the retail sector. It always goes back to the old adage that an organization is only as good as it’s people.

The Dubai Mall is set to expand with a planned 1.5-billion dirham investment by Emaar Properties. This expansion will introduce 240 new luxury stores, along with additional dining options. By enhancing its luxury offerings and increasing its retail space, Emaar aims to meet the rising demand for premium shopping experiences and strengthen Dubai's reputation as a top destination for luxury retail. Hence, it’s imperative for you to elevate efforts on positioning your mall as a global shopping hub to attract upscale international brands and affluent global consumers.

Join us at the 14th Annual Shopping Malls Summit and discover a world of opportunities as you connect with esteemed industry experts. This premier event will facilitate invaluable networking between local and international professionals who possess extensive knowledge in the dynamic realm of malls. Gain exclusive insights from companies that have successfully navigated the evolving landscape, equipping yourself with the tools needed to thrive in this ever-changing industry. Don't miss out on this exceptional opportunity to forge meaningful connections and gain a competitive edge.