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The Mall, Mid Valley Southkey is a prominent shopping destination in Johor Bahru, Johor, Malaysia, opened on April 23, 2019, and managed by IGB Berhad.
Spanning 2.5 million square feet with a net lettable area of approximately 1.53 million square feet across six retail floors, it serves as the largest mall in southern West Malaysia. Strategically located in the Southkey precinct, it benefits from proximity to the Johor-Singapore Causeway, approximately 20-30 minutes drive, attracting cross-border shoppers alongside local residents.
Accessibility is enhanced by direct connections to the Johor Bahru Eastern Dispersal Link Expressway, Tebrau Expressway, and public bus routes from JB Sentral, with 6,500 parking bays available. The tenant mix is diversified, featuring over 300 stores including anchor tenants like SOGO department store, GSC Cinemas, Harvey Norman, Nitori, Village Grocer, and luxury brands such as Chanel, Dior, Rolex, and Michael Kors.
Entertainment options include AURUM Theatre and Mid Valley Exhibition Centre. As of May 2025, occupancy stands at 95%, supported by resilient footfall estimated at high levels due to Singaporean visitors, though exact metrics are not publicly detailed.
Market position is strong in the premium segment, with Johor Bahru's retail sector showing 85-90% occupancy across malls amid Iskandar Malaysia's growth.
Leasing advantages include competitive base rents around RM4-8 per square foot per month, turnover clauses of 5-7% of sales, and fit-out allowances up to RM200 per square foot for qualifying tenants. However, challenges include intense competition from nearby malls like Paradigm and KSL City, vulnerability to border closures or Singapore economic fluctuations, and potential market saturation in luxury retail categories.
Operational quality is high with modern infrastructure, but aging elements may emerge in 5-10 years.
Demographic profile targets middle to upper-income families aged 25-55, with a blend of local Malaysians and affluent Singaporeans seeking value and variety.
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Hours of Operation
Hours
| Monday | 10:00 AM — 10:00 PM |
| Tuesday | 10:00 AM — 10:00 PM |
| Wednesday | 10:00 AM — 10:00 PM |
| Thursday | 10:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 10:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Johor Bahru's population exceeds 1.5 million, with Mid Valley Southkey drawing from the urban middle-upper class demographics, primarily families and young professionals aged 25-55 with household incomes above RM5,000 monthly. The mall's location near the Causeway boosts footfall from Singapore's 5.9 million residents, who contribute 30-40% of weekend traffic seeking cheaper luxury and dining options. Annual footfall is estimated at 10-15 million visitors, resilient post-pandemic but sensitive to cross-border policies and fuel prices. Local growth from Iskandar developments supports steady weekday traffic, though competition dilutes per-mall capture rates to 20-25% of regional shoppers.
Tenant Mix and Occupancy
The diversified tenant mix includes 40% fashion and luxury (e.g., Mango, Chanel), 25% F&B, 15% entertainment (GSC, Aurum), 10% home goods (Harvey Norman, Nitori), and 10% groceries (Village Grocer). This balance caters to one-stop shopping, with 95% occupancy as of May 2025 reflecting strong demand. However, luxury categories show saturation risks, with 10-15% vacancy in non-prime spaces. Strengths lie in anchor stability, but weaknesses include over-reliance on international brands vulnerable to supply chain issues. Overall, the mix enhances dwell time to 2-3 hours, supporting sales productivity of RM500-800 per square foot annually.
Lease Terms and Market Risks
Base rents range from RM4-12 per square foot monthly, lower than Kuala Lumpur's RM18+ due to Johor market dynamics, with turnover rents at 5-7% of gross sales providing upside for high-performers. Lease terms typically span 3-5 years with 5-10% escalations, plus fit-out incentives. Advantages include flexible subletting and marketing support from IGB. Risks encompass competition from 20+ JB malls leading to 5-10% annual churn, access issues during peak Causeway congestion, and economic exposure to Singapore's GDP fluctuations, which can reduce footfall by 20% during downturns. Infrastructure remains modern, but regional saturation may pressure rents downward by 3-5% in 2026.
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Johor Bahru
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Johor Bahru
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