JPPH To Unveil KL Office Rent Index Tomorrow

KUALA LUMPUR (July 18): The Valuation and Property Services Department (JPPH) of the Ministry of Finance will introduce its 'Purpose-Built Office Rent Index Wilayah Persekutuan Kuala Lumpur' (PBO-RI WPKL) covering the first to fourth quarters of 2011 tomorrow.

The index, produced by the National Property Information Centre (NAPIC), a unit under JPPH, aims to provide an overview of office rental index for Kuala Lumpur and can be used as a benchmark for the country's financial stability.

"The data were also created to attract multinational companies to set up regional headquarters here and will increase the inflow of foreign direct investments," said NAPIC Director Dr Zailan Mohd Isa at the pre-launch of the index here today.

She said the index, produced with the advice, assistance and supervision of statisticians and researchers from Universiti Malaya and Universiti Teknologi MARA, looked at 6,831 tenants in 167 office buildings in the Kuala Lumpur Federal Territory, including in the KLCC-Golden Triangle, Central Business District, city centre, as well as certain suburban areas.

Zailan said the PBO-RI, the first of its kind in Southeast Asia, will be launched by Deputy Finance Minister Datuk Dr Awang Adek Hussein. — Bernama