Sunway Malls Projects 5% Growth in 2025
Confidence in Malaysia’s Tourism Sector and GDP Growth
Sunway Malls has projected 5% growth in 2025, driven by Malaysia’s growing tourism sector and in line with GDP growth projection. CEO HC Chan noted that Sunway Malls recorded a 5% increase in 2024 and remains optimistic about maintaining this trajectory despite global economic and geopolitical challenges.
Tourism Growth
According to Tourism Malaysia, the country aims to attract 31.3 million international tourists in 2025, generating RM125.5 billion in tourism receipts. For Visit Malaysia Year 2026, the targets are set even higher, with expectations of 35.6 million international visitors and RM147.1 billion in tourism receipts. Chan acknowledged the competitive landscape in the industry, stating, "There are over 700 malls in Malaysia, making the industry highly competitive. But we are glad to note that tourist numbers are steadily increasing at a good rate. We look forward to Visit Malaysia Year 2026, which will further boost the sector."
Integrated Developments and Experiential Shopping
Sunway Malls is expanding its footprint with three new malls over the next two years to bring its total to 12 shopping malls in Malaysia. The upcoming mall locations are Sunway Square, Sunway City Kuala Lumpur, Bandar Sunway; Sunway Pier, Port Klang, Selangor; and Sunway Ipoh Mall, Sunway City Ipoh. "So in the next couple of years, we’re going to have 12 shopping malls in Malaysia. And we’ll be one of the largest mall owners and operators of shopping malls in the country," he said.
The company has evolved beyond traditional retail, focusing on experiential shopping rather than just functional purchases. "Consumers no longer visit malls just to buy things – they come to enjoy the experience." "That’s why the F&B sector now accounts for over 30% of our offerings. When combined with leisure, entertainment, and other lifestyle elements, it makes up almost 50%. That is what differentiates us from the rest."
Conclusion
Sunway Malls is confident in its ability to maintain a 5% growth rate in 2025, driven by the growth of Malaysia’s tourism sector and GDP growth. The company’s focus on experiential shopping, integrated developments, and expansion into new markets will continue to drive its success.
FAQs
- What is Sunway Malls’ projection for growth in 2025?
Sunway Malls projects 5% growth in 2025. - What is driving the growth in 2025?
Malaysia’s growing tourism sector and in line with GDP growth projection. - How many shopping malls does Sunway Malls plan to have in the next couple of years?
Sunway Malls plans to have 12 shopping malls in Malaysia in the next couple of years.