Property
Office owners need to up their game
Joseph Wong | 12 Jul 2019 00:30
Owners of Grade B and Grade C offices will need to up their game if they want to remain competitive in the persistently tough market.

The situation is further exacerbated with more Grade A offices entering the already oversupplied market, offering competitive rates with state-of-theart trimmings.

“With office supply remaining elevated, especially in the Kuala Lumpur city centre, office rental rates are expected to continue to come under pressure in the short- to mid-term, with a total of circa 11.7 million sq ft (more than 70%) of incoming supply expected to come on stream in the near term from 2Q 2019 to 2021.

“Currently, the existing stock of Prime A+ and Grade A office space is estimated at 35.7 million sq ft as of 1Q 2019,” says international property consultancy Knight Frank Malaysia corporate services executive director Teh Young Khean.

Download and read more in the latest issue of Focus Malaysia here:
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