Commercial Office

Real estate is by no means immune to the volatility impacting capital markets. The current macro environment offers no shortage of reasons for...

Find out what challenges await this segment of the market.

The average CBD rents slipped by less than 1% in 2022.

Over two-thirds of the new supply will come from the Gurugram submarkets. 

Rents grew 1.4% in the last quarter of 2022.

This is despite a 1% decline recorded in the fourth quarter of the year.

Only 3.69 million sq ft of projects were completed in 2022.

Investments surged 54% to $7.3b for the whole year.

Meanwhile, the vacancy rate increased to 12.1%.

It’s almost 4 times 2021’s net demand and is 18% higher than the 10-year average.

Occupancy levels also remained healthy.

The office leasing market remains active with occupiers looking for quality space.

Blame it on the persistent supply-demand mismatch.

The buildings are scattered across KL City, KL Fringe, and Selangor.

The net absorption hit 1.15m sq ft during the year.

A significant amount of supply is also in the pipeline.