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Daily Essentials & GroceryCinema & LeisureNational ChainsMid-Market FashionDepartment Store Anchors

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Ultra-Luxury PositioningDiscount RetailSmall Format Retail

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Subang Parade is a neighborhood shopping center in Subang Jaya, Selangor, Malaysia, opened in 1988 as the first regional mall in the area. It spans a gross floor area of 1,169,038 square feet with a net lettable area of 521,680 square feet across three levels, offering 1,287 parking bays. As of December 2024, it maintains an occupancy rate of 84.1%, up from 74.7% in 2023, with 86 tenants contributing to gross revenue of RM29.5 million and net property income of RM15.1 million.

Footfall reached 4.9 million visitors in 2024, a 10% increase from the previous year. The tenant mix emphasizes essentials and leisure: department stores and supermarkets occupy 38% of NLA, food and beverage 15%, fashion and footwear 5%, health and beauty 5%, leisure and entertainment 5%, electronics 5%, homewares 5%, education and services 4%, and specialty stores 18%. Top tenants include Parkson (27% NLA, 24% rental income), GSC Cinemas, Best Denki, Game On Sports Hub, and Village Grocer.

Recent additions like Oriental Parade, Fly Project, and Swet Fitness enhance vibrancy. Positioned in a catchment of 1.834 million within a 20-minute drive, it targets upper-middle-income young families and professionals in a diverse, urban-suburban community. Ongoing asset enhancement initiatives, including facade upgrades and infrastructure modernization, are set for completion in Q2 2026, aiming to boost dwell time and spending.

Leasing advantages include positive rental reversion of 6.5% on 41 new/renewed tenancies covering 11.9% of NLA, turnover rent in 96% of contracts, and a focus on community events for stable traffic. However, challenges persist from market saturation, with competition from larger destinations like Sunway Pyramid drawing regional shoppers, and short-term disruptions from tenant remixing.

Operational quality features sustainability efforts such as LED lighting, EV charging, and recycling programs, but aging elements like occasional escalator malfunctions highlight maintenance needs.

Rent levels typically range RM4 to RM8 per square foot monthly for similar neighborhood malls, influenced by location and category.

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Hours of Operation

Hours

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Monday10:00 AM — 10:00 PM
Tuesday10:00 AM — 10:00 PM
Wednesday10:00 AM — 10:00 PM
Thursday10:00 AM — 10:00 PM
Friday10:00 AM — 10:00 PM
Saturday10:00 AM — 10:00 PM
Sunday10:00 AM — 10:00 PM
Holiday Hours

Hours may vary on public holidays. Check with individual stores for specific holiday schedules.

No. 5, Jalan SS16/1, Subang Jaya, Malaysia

Insights

Demographics and Footfall

Subang Jaya hosts a population of approximately 708,000, characterized by a diverse mix of middle to upper-middle-income households, including young families, professionals, and students from nearby universities. The primary trade area for Subang Parade encompasses 1.834 million residents within a 20-minute drive, supporting consistent local patronage. In 2024, the mall recorded 4.9 million visitors, reflecting a 10% year-over-year growth and resilience post-pandemic. This footfall is driven by neighborhood convenience rather than tourism, with average dwell times benefiting from family-oriented anchors like Village Grocer and GSC Cinemas. However, external factors such as economic pressures on discretionary spending could temper growth, emphasizing the need for targeted promotions to sustain metrics.

Competition and Market Risks

Subang Parade faces significant competition from nearby malls including Sunway Pyramid (a mega-regional center with higher footfall and entertainment draws), Empire Subang, AEON Big, and The Summit USJ, which collectively saturate the Klang Valley retail market with over 700 centers nationwide. This leads to market fragmentation, where larger venues capture 60-70% of regional spending, pressuring smaller neighborhood malls like Subang Parade on premium categories. Risks include tenant churn in fashion and specialty segments due to e-commerce and shifting preferences, alongside broader economic volatility affecting occupancy. Mitigation through ongoing asset enhancements aims to differentiate via community focus, but saturation may cap rent escalations and require vigilant tenant mix adjustments to avoid weak categories like outdated electronics outlets.

Accessibility and Operational Quality

Located off the Federal Highway, Subang Parade offers convenient access 25 minutes from Kuala Lumpur, with proximity to LRT stations in SS15 and USJ areas facilitating public transport. The 1,287 parking bays address peak-hour demand, though Subang Jaya's chronic traffic congestion poses entry delays. Operational strengths include 24-hour security, disability-friendly features, and recent sustainability upgrades like EV bays and energy-efficient ACMV systems, earning the ASEAN Energy Efficient Building Award in 2024. Challenges encompass aging infrastructure, with reports of frequent escalator breakdowns impacting mobility for elderly or disabled visitors, and occasional shop closures from post-MCO recovery. Lease terms feature flexible step-up rents in 46% of agreements, supporting adaptive pricing amid RM4-8 per square foot monthly rates, but potential access issues could influence footfall during renovations completing in 2026.

Building Details

Property Type
Regional
Gross Leasable Area
48,309
Year Built
1988
Parking Spaces
1200
Average Monthly Footfall
583,333
Owner
Hektar REIT
Anchor Tenants
Village Grocer, GSC Cinemas

Detailed Market Analytics

Primary Catchment Area
5 km Radius
Secondary Catchment Area
10 km Radius
Catchment area population
500,000 People
Population growth rate
3.93 %
Median age
29 Years
Household size
3.8 Persons
Education level (tertiary)
25.0 %

Median household income
10,000 RM per month
Unemployment rate
3.5 %
Cost of living index
45 Index (NYC=100)

Retail spending per capita
2,500 RM per year
Spending on apparel
1,200 RM per year
Spending on groceries
3,000 RM per year
Spending on electronics
800 RM per year

Annual foot traffic
7,000,000 Visitors
Dwell time
1.5 Hours
Conversion rate
25.0 %
Sales per square meter
7,500 RM per year

Number of retail stores
200 Stores
Anchor tenant presence
Yes Presence
Competitor density (same category)
High Density
Tenant diversity
Medium Diversity
Unique Concepts
Experiential tenants Concepts

Gross Leasable Area
48,309 sqm
Number of Levels
3 Levels
Average rent per square meter
150 RM per month
Vacancy rate
12.0 %
Lease term flexibility
Medium Flexibility
Available retail space
13,000 sqm

Proximity to main roads
Direct Access
Public transport access
Good Access
Parking spaces
1,200 Spaces
Pedestrian traffic
High Traffic

E-commerce competition
High Competition
Click-and-collect adoption
Medium Adoption
Internet penetration
89.0 %

Retail crime rate
Low Rate
Security measures
CCTV and guards Measures

Promotional events
Ongoing Events
Loyalty program penetration
Medium Penetration
Digital signage presence
Yes Presence

Projected foot traffic growth
4.0 %
New tenant pipeline
Active Pipeline
Mall expansion plans
Renovations Plans
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Subang Jaya

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Subang Jaya

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