Klang Valley to see seven new office buildings by the first half of 2023
The buildings are scattered across KL City, KL Fringe, and Selangor.
The cumulative supply of office space in Klang Valley stood at circa 113.9 million sq ft as of 2H2022 following the completions of four buildings offering a total of 1.8 million sq ft of space, according to a report by Knight Frank.
In KL City, there were two completions, both within the same mixed-use development of Pavilion Embassy Kuala Lumpur - Pavilion Embassy Corporate Tower and Pavilion Embassy Corporate Suites, each offering a net lettable area (NLA) of circa 360,000 sq ft. The freehold integrated office and residential development is located along Jalan Ampang.
Here’s more from Knight Frank:
Meanwhile, KL Fringe witnessed the completion of the MET Corporate Towers during the review period. Located within the master plan of KL Metropolis, it is made up of two stratified office towers – a 42-storey Tower A and a 30-storey Tower B which offer NLA of circa 450,000 sq ft and 190,000 sq ft respectively.
Block J of Empire City also known as HCK Tower is the only completion in Selangor. Located off Jalan Damansara, it forms part of a mixed-use development on a masterplan spanning circa 9.3 hectares. The office building, which is connected to a 2.5 million sq ft retail podium, offers circa 460,000 sq ft NLA.
By the first half of 2023, another seven office buildings are scheduled for completion – three in KL City, two in KL Fringe and another two in Selangor. Upcoming completions in KL City are PNB 1194, V2 Corporate Office Tower (Velocity 2) and Merdeka 118 Tower while in KL Fringe, they are Aspire Tower and Pavilion Damansara Heights Corporate Tower (Phase 1).
The impending completions in Selangor are Tower 5 of PJ Sentral Garden City and Office Towers @ Atwater. Collectively, these completions will add circa 5.1 million sq ft of space to Klang Valley’s existing cumulative office stock.