Here's a destination Singaporeans can look out for when travel restrictions are finally lifted.
A huge integrated lifestyle destination will be opening in Kuala Lumpur, Malaysia in 2022.
New integrated lifestyle destination
The Exchange TRX is 2.2 million sqft in size — roughly one and a half times bigger than Singapore's largest shopping mall, VivoCity — and will be located in the heart of the Tun Razak Exchange (TRC) financial district.
In the middle of the compound will be a lifestyle district with over 500 stores, according to Harper's Bazaar.
The highlight is a four hectare rooftop park where shoppers can relax and mingle.
Not only is the place a lifestyle destination — the integrated development will consist of multiple blocks of residences, offices and hotels.
According to The Exchange TRX's website, there is also a "Signature Tower" 438m tall and 92 storeys high.
Such a large compound is also expected to utilise a 45,000-strong workforce, The Straits Times reported.
Currently, the mall is under construction, and is expected to be completed by 2022, with the residential blocks completed by 2023.
Some malls seeing increased footfall
ST reported that mall operators are confident that shoppers will return, with two more malls being set to open in Klang Valley in the next two years.
According to an article by The Edge in August, footfall in some Malaysian malls had recovered by 60-70 per cent.
The CEO of Sunway Malls and Theme Parks, H.C. Chan, told ST in their recent article that they are seeing a footfall recovery of 70 per cent and sales in the 85 per cent range.
Malls in JB empty
However, the same cannot be said for malls in Johor Bahru.
These malls that typically rely on patronage from Singaporean tourists have seen human traffic decline to the point where the premises appear as empty as ghost towns.
In light of the economic impact, the head of government for the state of Johor, Hasni Mohammad, has expressed his desire for Malaysia's federal government to speed up the process of a full opening of Malaysia-Singapore borders.
On Sep. 11, Malaysia's Health Minister Adham Baba said that the country will assess the recovery movement control order (MCO) period over the next four months to determine if it would be possible to open borders with Singapore fully.
As of September 2020, Malaysia's MCO period will last until the end of the year, Dec. 31, 2020.
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Top photo from The Exchange TRX / FB