The district of Klang is bound to be the centre of the sector
The industrial real estate industry in Malaysia is in a better position for earnings growth, particularly for real estate investment trusts (REITs), according to The Star. Thus far, industrial properties have been in demand despite forecasts expecting a slow period in 2023.
Transaction performance remained good and has the potential to improve due to the total net foreign direct investment flow of 2022 reflecting itself better than that of 2021, added the New Straits Times.
The residential and industrial sub-sectors have also shown positive signals towards growth despite the overall property market not being completely recovered yet. Nevertheless, the property market is forecasted to recover as soon as major infrastructure developments begin.
As of the third quarter of 2022, property consultancy Knight Frank reported the total industrial property inventory in Klang Valley came to 46,762 units, mostly within the District of Petaling and the District of Klang with 30.8 percent share and 18.7 percent share respectively. As for what is planned for the future, 1,560 units are in the process of being developed with 1,702 more units being planned out.
Around 48.9 percent of the planned supply would be centred in the District of Klang due to it being closest to the country’s largest port and the world’s 12th busiest port, Port Klang. This makes it more accessible and puts the land at a more competitive price.
The Property Report editors wrote this article. For more information, email: [email protected].
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