Office: The market witnessed a slightly decrease in overall vacancy rate in Greater KL this quarter to 30.16% from 30.61% in the previous quarter due to delayed in target completion of the upcoming large supply office buildings. However, entering 2023, the upcoming completion will pushed the overall vacancy rate in KL CBD and fringe to increase in a range of 2 to 3%.
Retail: Political and economic uncertainties, continuous rise in the OPR and looming threat of global recession are the leading reasons of the less promising outlook in retail market entering 2023. This is detrimental to our efforts to build a strong retail sector that serves as one of the pillars of our economy, as well as to growth and recovery.
Industrial: Industrial market in Greater Kuala Lumpur and Malaysia as a whole is seen moderate movement in the fourth quarter (Q4 2022) and there will be more notable slowdown in the first half of 2023.
Learn more by clicking our most recent Kuala Lumpur MarketBeat reports below.