Building & Investment (Jan - Feb 2016) (Jan - Feb 2016) | Page 27
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Klang Valley
s Subdued scenario, generally, excepting
several “notable” land and property
deals, e.g., The Intermark (RM1.813
billion) and KL Sentral (RM1.57 billion)
and major announcements, i.e., Bukit
Bintang City Centre (former Pudu Jail)
and TRX Lifestyle Quarter.
s Continued slowdown in landed
residential market; with improved
connectivity, new schemes (mostly on
smaller scale) launched further from
city, e.g., Rawang, Kajang and Semenyih,
with prices ranging from RM300 – 400
per sq ft over built-up area. Soft market
conditions, however, may prompt
“new developments with affordable
price range.” Transactions in secondary
market are projected to increase.
s Large incoming supply (13,500 units)
of high-rise residential in next two years
will exert pressure on occupancy rates
whereas rentals will be competitive
(buyers’ market); slower transaction
activities in KL city centre even with
discounts (owners disposing due to
concerns about economic climate).
s Prime rentals for purpose-built office
Kuala Lumpur Office:
No 28, Jalan Perindustrian PBP3,
Taman Perindustrian Pusat Bnadar Puchong,
47100 Puchong, Selangor Darul Ehsan, Malaysia.
Tel : 603-8060 8653 Fax : 603-8060 8654
Johor Bahru Office:
45-2, Jalan Titiwangsa 2,
Taman Tampoi Indah,
81200 Johor Bahru, Johor Darul Takzim, Malaysia.
Tel 607-241 3801 (5 Lines) Fax : 607-241 3811
KL Sentral.
s
s
expected to stay stable although
occupancy rates may dip as the 10.0
million sq ft threshold (of cumulative
office supply) is breached; continued
demand for Grade A buildings but,
overall, this sector is essentially a tenant’s
market.
With additional 7.56 million sq ft (NLA)
retail space to open in 2016/2017,
slowdown in this sector is of concern,
i.e., challenge to let out so much space
against cautious consumer spending and
uncertain economic future.
Hotel segment in 2016 looks promising
by virtue of weakened Ringgit and
s
increased tourist arrivals; average room
rates expected to remain stable but
occupancy to decline with opening
of new international branded hotels/
serviced apartments. Increasing interest,
though, noted in KL as venue for MICE
(Meetings, Incentives, Conventions and
Exhibitions).
Industrial sector will continue to grow
steadily over next few years, supported
by on-going Government infrastructure
development and new investments
(Johor topped the list for nine months
of 2015, followed by Sarawak, Melaka,
Selangor and Penang). Q
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