DTZ: Looming oversupply of office space in Kuala Lumpur
In a Property Times report, DTZ noted that there is a large pipeline of new office space that is due to become available in Kuala Lumpur over the coming years. The pipeline includes over 5mn square feet in each of 2015 and 2016, and 2-3mn square feet in each of 2017 and 2018. Net absorption over the last year or so has been about 1.7mn square feet. The vacancy rate is around 17% and has already been increasing over the last two years or so.
Source : August 2015/DTZ/Kuala Lumpur/OFF