Newly launched Grade A projects in Kuala Lumpur recorded significant take-up from major international tenants, as occupiers gravitated to high-quality spaces with green accreditation, the report said.
Vestland intends to fund the proposed office acquisition via internally generated funds, while the proposed warehouse acquisition will be funded through a mix of internally generated funds and bank borrowings.
Among Southeast Asian cities, Manila had the second highest average office fit out cost at S$129 psf, followed by Bangkok at S$144 psf.
In the KL fringe market, there was also slight improvement in vacancy rate, decreasing from 7.
DONE DEAL: Shoplot, Denai Alam, Selangor DONE DEAL: Semidee house, Damansara Heights, Kuala Lumpur Previously known as the Circular Road, Jalan Tun Razak is one of the most lively thoroughfares in Kuala Lumpur’s Golden Triangle.
Based on Napic’s Property Market Report 2023 released on Wednesday, the occupancy rate of shopping complex retail space in 2023 rose to 77.
JLL Malaysia logistics and industrial team member Derek Yap said warehouse absorption in Greater Kuala Lumpur remained robust last year, as demonstrated by the strong pre-commitment level from occupiers.
Currently, the demand for green workspaces in KL is estimated to be approximately between 40% and 45% while supply only stands at 35%.
“The Selangor Land and Mines Office (PTGS) is refusing to release the titles unless we pay a 12% penalty.
Major office occupiers in Kuala Lumpur City comprise oil & gas (O&G), finance and banking, and flexible space operators; whereas KLF encompasses flexible space operators, information technology (IT) and commerce, BPOs and shared services, as well as insurance and financial institutes.
The only property app you need. More than 200,000
sale/rent listings and daily property news.
