Commercial Office

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.

Supply still outpaced demand during the quarter.

Hap Seng is set to become the new owner of the Menara Weld office building.

There was over 4 million sq ft of new Grade A space in the market.

APAC operators also plan to increase rates by 8.3% over the next 12 months.

It was not because of increased demand.

Rents declined 2.3% in the final quarter of the year.

Rents are bound to suffer further downward pressure.

Learn more about two corporate parks in India that used biophilic principles.

JLL outlines three primary reasons driving the trend.

The growth surpassed the 3.8% hike recorded in 2021.

The overall market seems to have bottomed out.