There was a 36% increase in the supply of flexible workspace centers in Kuala Lumpur in 2018, making it the fastest-growing major metropolis in the APAC region. Because of this, office space prices in the Asia-Pacific area have fallen, but Instant Offices' research shows that Kuala Lumpur is still an attractive location for businesses in both the domestic and international markets. service
In Kuala Lumpur, the supply of hybrid office space climbed by 31% last year, while the supply of pure co-working space and serviced offices increased by 10% and 7%, respectively. In the region, demand is strong; the average desk rate is RM 886.
Demand for space in the city is only going to increase as more businesses move to coworking spaces and corporate headquarters. International firms also employ this low-cost, low-risk sampling technique for the local market.
There are 112 Workspace Centers that can be configured in various ways.
A flexible office space can be rented in Kuala Lumpur.
According to the Asia-Pacific Flexible Workspace Survey, AMEX and IT firm Datacom both received creative workspaces in Kuala Lumpur last year. In total, over 1,100 people were served by the controlled office concept, which featured 90,000 square feet of flexible office space for all kinds of uses.
On top of that, the city of Kuala Lumpur plans to utilize cutting-edge technology in a variety of other areas. For the first time, Alibaba's City Brain technology is being used outside of China in this sector. City Brain is an AI platform that uses city cameras to monitor traffic control and accidents.
Malaysia's innovative and collaborative business sector makes flexible workspace in the country's major cities highly desirable.
Kuala Lumpur's other major business districts include:
Damansara Heights is one of the city's most affluent and well-developed neighborhoods.
Bangsar South is a mixed-use development with strong transit and infrastructural links.
With plenty of open space and easy access to major roads, the Mont Kiara district in Kuala Lumpur is a popular choice for expatriates.
Shops, hotels, and tourist attractions may be found in plenty in the city of Pedaling Jaya, a major Malaysian hub.
Subang Jaya is a bustling, fast-paced city close to Kuala Lumpur's downtown area, and it's home to a number of prestigious universities and colleges.
Despite a decrease in worldwide commercial real estate investment in 2019, the demand for commercial real estate services remains high.
It was reported this week that after a turbulent 2018, global real estate consultancy JLL saw a 9 percent year-over-year drop in worldwide commercial real estate investment to $341 billion in the first half of 2019.
Even if activity declined in EMEA and the Americas, it rose in Asia Pacific, where it reached $86 billion, a new record for the first half.
In addition to continued political and economic turmoil, structural changes in the retail industry are affecting investor confidence.
A time when purchasers are eager for returns, risk-free yields continue to decrease, decreasing borrowing costs and increasing property spreads. Despite rising prices in many worldwide markets, fundamentals are robust, underwriting is rigorous, and debt levels are generally modest, according to JLL.
In the first half of 2018, private closed-end real estate funds provided $80.3 billion in funding, according to JLL. While this is going on, dry powder has risen to a new record high of $331 billion. Managers are having a hard time allocating resources in a world where costs are increasing at a faster rate than before.
For all of 2019, JLL predicts that investment will be around $730 billion, a decrease of approximately 5-10 percent from the first half of 2019.