Kuala Lumpur is Asia's fastest-growing city for coworking space.

 

Kuala Lumpur's versatile workspace center supply increased by 36% in 2018, making it the fastest-growing main city in the APAC area, outpacing Gurugram, Chennai, Brisbane, Hong Kong, Sydney, and Singapore. studio qatar

Despite some of the most expensive markets for office space in the Asia-Pacific region dropping, research by Instant Offices reveals why Kuala Lumpur remains a competitive center of operation for domestic and foreign markets.

 

Hybrid office space supply increased by 31% in Kuala Lumpur last year, while pure co-working space and serviced offices saw 10% and 7% growth, respectively. The demand is solid, with an average desk rate of RM 886 across the region.

The city's demand for space continues to grow, as more companies opt for flexible workspace and corporates over conventional offices. This low-cost, low-risk method of sampling the local market is also being used by international companies.

 

There are 112 Flexible Workspace Centers.

 

In Kuala Lumpur, you can rent a flexible office space.

 

Two creative workspaces for AMEX and IT firm Datacom were delivered in Kuala Lumpur last year, as stated in the Asia-Pacific Flexible Workspace Survey. Over 1,100 workers were served by the controlled office approach, which included 90,000 square feet of versatile office space.

 

The government of Kuala Lumpur also intends to use technology in areas such as protection, the climate, electricity, waste management, and others. Outside of China, the area is the first to use Alibaba's City Brain technology, an AI platform that monitors traffic control and accidents using cameras in the city.

 

Flexible workspace is in high demand in Malaysia's major cities, thanks to the country's creative and collaborative business community.

 

Other important business areas in Kuala Lumpur include:

 

Damansara Heights is a wealthy, well-developed neighborhood that is one of the city's most sought-after addresses.

Bangsar South is a fully integrated residential and commercial hub with excellent transportation and infrastructure.

Mont Kiara is an affluent Kuala Lumpur neighborhood with plenty of green space and easy access to major highways.

Pedaling Jaya is a major Malaysian city with a bustling commercial area that includes shopping malls, hotels, and tourist attractions.

Subang Jaya is a busy, fast-paced city located near the Kuala Lumpur city center and home to many higher learning institutions.

Despite a drop in global commercial real estate investment in 2019, demand remains high.

Following a rocky 2018, global real estate consultancy JLL reported this week that investment in global commercial real estate cooled in the first half of 2019, with year-over-year volumes falling by 9% to $341 billion.

All three regions behaved differently, with activity dropping in EMEA and the Americas, while Asia Pacific set a new first-half high of $86 billion.

Investor confidence is being impacted by structural changes in the retail sector, as well as ongoing political and economic instability.

Risk-free yields, on the other hand, continue to fall, lowering borrowing costs and widening property spreads at a time when buyers are looking for yield more than ever. Despite the fact that prices have risen in many global markets, fundamentals remain strong, underwriting is disciplined, debt levels are generally low, and investors are still interested in the sector, according to JLL.

According to JLL, funding by private closed-end real estate funds reached an all-time high of $80.3 billion in the first half. Meanwhile, dry powder continues to rise, reaching a new high of $331 billion. Managers are finding it difficult to deploy resources in a world where costs are rising as the current cycle continues.

As investors continue to adapt to the overall global economy, JLL expects investment to decline by approximately 5-10 percent in the second half of 2019, to around $730 billion for the full year.