Cistri led a multi-disciplinary team that included Kokaistudios and Husband Retail Consulting to provide a comprehensive review of an existing mall located within famous retail precinct in Central Kuala Lumpur (KL). The mall was originally KL’s pioneering luxury lifestyle retail destination. It currently consists of 363,000 sq.ft of leasable area. The mall has seven levels of retail, including a basement level, each featuring a different experience marked with some of the world’s finest luxury fashion, watch and jewellery brands as well as some destination restaurants.
Cistri’s analysis showed that the retail market and environment in which the mall operates will become increasingly competitive over the next 5 years. This will place considerable pressure on the performance of the mall and provide challenges in retaining some of the key tenants and in achieving any rental growth.
There is, therefore, a need a for the mall to be pro-active. Based on this analysis, the project team developed the optimal retail strategy for this asset going forward and the recommendations involved making the following changes to it – market positioning and branding, retail layout and design, tenant mix, mall management and marketing, and connectivity to the adjacent land uses on site.
Cistri’s role included market research, financial analysis of layout options, evaluation of the asset’s performance, site planning and project management.