Outlook 2023 Malaysia

KUALA LUMPUR NEW SUPPLY

NEW SUPPLY (MSF)

7

 Following a large amount of new supply in 2021, approximately 1.2 msf is expected to enter the Greater KL market by end-2022.  3 projects, Sunway V2 Tower (362,400 sq ft), Pavilion Damansara Corporate Tower 10 (582,000 sq ft) and Merdeka 118 (1,700,000 sq ft), are currently under construction and expected to complete by 2023. They have a combined pre-commitment level of 40%.  Beyond 2024, supply is more uncertain with several shovel-ready projects yet to begin construction.

FORECAST

6

5

4

3

2

1

0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield