Outlook 2023 Malaysia

KUALA LUMPUR DEMAND & VACANCY

NET ABSORPTION (MSF) AND VACANCY RATE (%)

FORECAST

35.0%

2.5

 Tenant demand is somewhat muted due to changes in corporate workplace strategy. This is expected to continue into 2023.  Net absorption is forecast to reach 2 msf in 2023, with green-certified buildings likely to receive preference.  Vacancy is expected moderately

30.0%

2.0

25.0%

1.5

20.0%

increase to 31% as supply is expected to exceed demand.

15.0%

1.0

10.0%

0.5

5.0%

0.0%

0.0

2020

2021

2022F

2023F

2024F

2025F

2026F

Net Absorption

Vacancy Rate

Source: Cushman & Wakefield