Knight Frank sees rise in KL prime office rental for next 3 years, attractive for MNCs
KUALA LUMPUR: Kuala Lumpur’s prime office rental, which saw an annual decline of 1.7% between the second quarters of 2016 and 2017, is expected to grow 2.5% over the next three years, according to Knight Frank Malaysia.
Kuala Lumpur also offers the best value in terms of skyscraper rents among global cities with rents at US$23 per square foot, which makes the city attractive for multinational companies (MNCs).
“By 2020, more skyscrapers will dot the Kuala Lumpur skyline with the scheduled completions of the iconic PNB Warisan 118 Tower and Exchange 106 in Tun Razak Exchange,” said Knight Frank Malaysia managing director Sarkunan Subramaniam at a media briefing this morning.
He added that the entry of these skyscrapers will raise the benchmark of premium grade office space in Kuala Lumpur.
Source: The Sun Daily