Vertical Business Suite
From RM1,200 /sqft
Bangsar South
from 878 Sq Ft
Various Floor
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Latest office for sale
Market Overview
Resilience of Kuala Lumpur commercial office market was clearly illustrated by the fairly sustained performances in 2017 with a slight increase in occupancy and rental rates remaining mostly stable amid fears of glut and completion of a number of office buildings in 2017 which adds further to existing excess supply. Prime buildings in strategic locations continue to perform well with good occupancy and rental rates.
According to NAPIC’s 2017 Property Market Report, the existing supply of purpose-built office space in Greater Kuala Lumpur as of 2017 stands at approximately 158.34 million sqft with an average occupancy at 80.92%, a slight increase from 79.6% recorded last year. KL City Centre accounts for 46.8% (74.14 mil sqft. from 324 buildings) of the total supply while 13.8% (21.78 mil sqft. from 117 buildings) comes from Outside KL City Centre (OKLCC). The remaining 39.4% are from WP Putrajaya and Selangor.
Kuala Lumpur commercial office market remained healthy in 2017 with better occupancy rate than in 2016 despite completion of new office buildings and a cautious oil and gas industry. Overall occupancy of Kuala Lumpur office market was at 80% (KL City Centre: 82%; OKLCC: 73.2%), improved from 77.9% recorded in 2016 (KL City Centre: 80%; OKLCC: 67%).