Malaysia
Overview
Malaysia is a multi ethnic, multi religious federation of thirteen states and three federal territories.The country’s capital city is Kuala Lumpur. Malaysia has developed a leading position in the production and refining of palm oil. Malaysia is a strong industrial country due to its large production leading in electronics, pharmaceuticals and medical technologies.
Facts and figures
| Population | 32,365,999 |
| Population density (people per sq. km of land area) | 99 |
| GDP per capita in US$ | 11,414.84 |
| Main industries | Electronics Rubber and palm oil processing Pharmaceuticals Medical technology Smelting Logging Timber processing Petroleum production Petroleum refining |
| Total office stock in sq m / sq f | 54,170,000 sq f |
| Total retail stock in sq m / sq f | 64,300,000 sq f |
| Total industrial stock in sq m / sq f | n/a |
Economy
Malaysia’s development has been guided by the government. Its economy is steadily opening and advancing fast towards technology and innovation. The economy is pushed towards higher value-added industries and services, away from the country’s reliance upon natural resources and targets an increased well being for its people.
Growth
Malaysia is a middle income country that consistently shows a robust growth. Malaysia’s GDP grew 4.4% in the third quarter of 2019, after recording a growth of 4.9% in the second quarter. The services, manufacturing and agriculture sectors were the main drivers of growth in the third quarter of 2019. On the expenditure side, private final consumption expenditure, net exports and government final consumption expenditure expanded, while Gross fixed capital formation declined.
Unique aspects
Malaysia is also a leader for tourism in Southeast Asia in terms of numbers of foreign tourists arrival. With its diverse landscapes, modern and traditional cities, wide range of activities, famous UNESCO world heritage sites, Malaysia also displays witty ways to recycle its cultural heritage. Malaysia has the second highest connectivity in Southeast Asia next to Singapore. This helps the rapid development of online businesses in the country as shown by the trends of e-commerce in Malaysia.
Key cities
Kuala Lumpur
Kuala Lumpur is the capital city of Malaysia. From gleaming skyscrapers, charming locals to colonial architecture, Kuala Lumpur is widely recognized for its numerous landmarks. The city is divided into numerous districts; its main hub is called the Golden Triangle which comprises: Bukit Bintang, KLCC and Chinatown.
George Town
George Town is the second largest city in Malaysia and is the capital city of the state of Penang. George Town is a UNESCO World Heritage City that is filled with cultural and historical attractions.
Johor Bahru
Johor Bahru is Malaysia’s third largest city with a population of more than 1,800,000 people. Johor Bahru is the capital city of the state of Johor. The city is a highly developed metropolis and is within walking distance of Singapore.
Office overview in Malaysia
Selected business districts for rent or lease for office space
Kuala Lumpur City Centre
One of the most iconic cities in Malaysia, Kuala Lumpur City Centre due to the fact that the world’s tallest twin towers, Petronas Twin Towers, is situated here. But KLCC is not only a destination for tourist attractions but rather an important business district attracting expats from all over the world.
George Town
George Town CBD is the central business district as the city contains the highest concentration of financial and banking services within George Town. Due to the numerous Malaysia and international banks that operate in the city, George Town serves as the commercial centre for Northern Malaysia.
Ibrahim International Business District
The Ibrahim International Business District is located within the Southern Johor Economic Region covering approximately 250 acres of land with an estimated gross development value of a minimum of RM20 billion. IIBD is like the golden triangle of Johor Bahru which is propelled to become a world-class business district. Popular office properties in Malaysia
Selected districts for rent or lease for retail space
Kuala Lumpur
Kuala Lumpur’s shopping scene is a pretty extensive one. From high end fashion to indie fashion finds, Kuala Lumpur provides the most variety with upmarket malls such as Pavilion KL, Suria KLCC and many more unique international and local finds.
Bukit Bintang
Along Bukit Bintang, the city has gone into overdrive when it comes to retail offerings. The city has more than nine major malls within a 4km distance from each other. Bukit Bintang is also known as Kuala Lumpur’s independent shopping scene that is concentrated around the inner city.
Petaling Jaya
About 25 minutes away from the city centre, Petaling Jaya is famous for shopping. Having more than 12 major malls within its landscape, this city is a pretty impressive shopping scene for an area that is less than the size of Kuala Lumpur. The fifth largest mall in the world, 1 Utama, is situated in this city.
Industrial overview in Malaysia
Selected districts for rent or lease for industrial space
Kuala Lumpur
Kuala Lumpur is a centre for finance, insurance, real estate, media and the arts of Malaysia. Other important economic activities in the city are education and health services. The city has advantages from the high concentration of educational institutions, numerous public and private medical specialist centres and hospitals.
Penang
The industrial segment in Penang is supported mainly by the manufacturing and semiconductor industries. According to the Malaysia Investment Development Authority, Penang recorded RM13.3 billion in approved manufacturing investment inflows in the first nine months of 2019.