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Kuala Lumpur MarketBeat Reports

Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: Overall, the office market remains resilient due to its ability to bounce back from economic challenges and adapt to changing market dynamics. Kuala Lumpur office vacancy rates have steadily declined throughout 2023, especially within the prime locations of KL Fringe, showcasing strong demand for quality space. Tenants are prioritizing high-quality, green-certified buildings with modern amenities and good connectivity to align with the company’s ESG policy and commitment to prioritizing employee well-being.

Retail: Despite an inflationary sting, Malaysian consumers have been on a shopping spree in 2023, defying expectations and propelling the nation's economic engine forward. This year-end spending surge brings overall consumer growth to 3.7%, fueled by the festive spirit, rising wages, and a robust job market. 

Industrial: Malaysia’s IPI increased by 2.7% y-o-y in October, showcasing the best performance since May 2023 compared to the decline in the previous month of 0.5%. The growth is mainly supported by Manufacturing sector, with 0.9% (September 2023: 0.4%) fueled by stronger domestic-oriented production of 6.7% (September 2023: 5.8%), despite the continuous decline in export-oriented industries of -1.5%, which has been ongoing since early 2023 due to supply chain disruptions, rising production costs, and global economic slowdowns.

Learn more by clicking our most recent Kuala Lumpur MarketBeat reports below.


Office Buildings CBD
Office MarketBeat

It is notable that the average asking rents as of Q4 2023 are increasing in all submarkets to RM6.22 per square foot per month, representing 4.3% y-o-y growth amid the increase in demand for office space.


Warehouse Internal Rack
Industrial MarketBeat

The logistics sector witnessed growing demand for comprehensive total logistics services as companies increasingly outsource logistics management to reliable service providers that offer value-added services such as warehousing, transportation management, packaging, and labeling.


Shopping Retail
Retail MarketBeat

While the path for the retail market to full recovery remains long, Malaysian malls are taking a tentative step forward. The Q4 vacancy rate slightly declined to 18.77% from 18.83% (Q3 2023), hinting at a potential revival in the retail landscape.


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