ASIA PACIFIC OUTLOOK 2025

KUALA LUMPUR

DEMAND & VACANCY

Net absorption is forecast to reach 0.2 million sq ft in 2025, and is likely to continue its positive trend in the coming years, driven by

29.5%

1.0 1.2 1.4 1.6

FORECAST

economic recovery and government initiatives.

29.0%

28.5%

Vacancy is expected remain stable at 28%, and expected to fall with positive take-up rates in prime office properties. Despite steady growth in net absorption, absorption will be outpaced by increasing net supply, leading to a slight increase in vacancy rates up to 2026.

28.0%

0.0 0.2 0.4 0.6 0.8

27.5%

27.0%

26.5%

26.0%

-0.4 -0.2

25.5%

2022 2023 2024F 2025F 2026F 2027F 2028F 2029F

NET ABSORPTION (MSF) AND VACANCY RATE (%)

Net Absorption

Vacancy Rate

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield