Two types of mall shaping Cambodia retail sector

• 7 February 2019
• Local News
• 2278 Views

As the retail sector’s influence on Cambodia’s property development grows, industry players are now focusing on two types of malls that best serve the country’s consumers.

Cambodia leading retail firm, Chip Mong Retail (CMR) recently unveiled its ambition to capture retail market share by segmenting the market into community malls and urban malls.

“To compete effectively with the malls in Cambodia, Chip Mong has to segment the market into community malls and urban malls,” said Mr Michael Vong, Shopping Mall Director for CMR during the company’s recent press conference. (Read more)

While citing location as the greatest advantage for malls, Mr Vong explained that community malls are facilities that serve the community and the people who live in the vicinity.

“The tenants that we pick will be the ones who can best serve the community with their brand and services,” he said.

Meanwhile according to a report by international real estate agency CBRE Cambodia, the retail sector is to see an increase of stock from community malls.

“It is forecast that a rise in community mall supply entering the market over the coming year, including projects such as Midtown Mall, Downtown 93, Noro Mall, WB Arena and The Park, will drive-up community mall total supply by approximately 228%,” the report said.

Mr Vong also explained that urban malls are located in the city and appeal to a larger, more diverse group of people.

“The malls that are fall into these two categories are those like 271 Mega Mall. This mall appears to the urban masses and offers a wider variety of products and services,” Mr Vong emphasised.

“Dining and entertainment concepts that drives business in retail will be very apparent and strong for urban malls,” he added.