MELAKA OVER-BUILDING COMMERCIAL SHOPSFebruary 29, 2012
28th. February 2012
I went back to Melaka yesterday for a short trip. When I was in Melaka, I had the opportunity to drive from Melaka Raya to Klebang.
Land reclamation works have been done from Melaka Raya until Klebang. More reclamation works are also being undertakened.
If you drive from Melaka Raya to Limbongan via the coastal highway, the reclaimed land on both sides of this coastal road, has been boarded up for new development. There will be new shopping malls, commercial shop houses, SOHO, condominiums and others. You name it and you will find them. Investors are pumping money into the development of this land. Was informed that there will be more than 4,000 shop houses etc. within Limbongan area.
While it is good for the Melaka Historical City Council in collection half yearly assessments from owners of these shops and offices, the question remains is whether Melaka can sustain this rapid development without proper planning.
These shops and offices can turn into empty shell if there is no business to go around. They can be left vacant as there are no tenants to rent these premises.
Pockets of unoccupied shops and offices will occur especially those not facing the main road and if this happens and owners will be be in debt if they cannot service their loans.
Overbuilding is a nightmare for property developers and Melakans will not want to see empty commercial centres dotting around Melaka. Do not follow the herd mentality and let us have a continuous but sustainable growth for Melaka.
Article source: http://tourism-melaka.blogspot.com/feeds/posts/default