Malaysia: Kuala Lumpur
Overview
Kuala Lumpur is the capital city of Malaysia that boasts many skyscrapers, colonial architecture, charming locals and a lot of natural attractions. The city is divided into many districts and its main hub is called the Golden Triangle which comprises: Bukit Bintang, KLCC, and Chinatown.
Facts and figures
| Population | 7,996,830 |
| Total office stock in sq m / sq f | 128,800,000 sq f |
| Total retail stock in sq m / sq f | 64,300,000 sq f (2018) |
| Total industrial stock in sq m / sq f | n/a |
Economy
Kuala Lumpur is the economic and commercial center of Malaysia hence why it’s regarded as a global city. The city is also one of the centers of global Islamic finance with a rising number of financial institutions providing Islamic financing. This includes the world’s largest Islamic bank - Al Rajhi Bank and the Kuwait Finance House. Tourism also contributes significantly to Kuala Lumpur’s growing economy. Business tourism is also rising as conferences and conventions have become an important source of income.
Growth
Kuala Lumpur recorded a strong growth of 6.7% in 2017. This is driven by the services sector. Services sector expanded to 7.3% backed by wholesale and retail trade, finance and insurance and business services sub sectors. In 2018, GDP per capita at national level increased to RM 44,682 with Kuala Lumpur being the top GDP per capita surpassing the national level.
Unique aspects
Kuala Lumpur means muddy confluence, because the city is located at the confluence of the Klang River and the Gombak River. Kuala Lumpur was founded in 1857 by chinese tin miners. Kuala Lumpur is more fondly known as KL and its residents are known as KLites. The city is home to the famous world’s tallest twin building, The Petronas Twin Towers. The building was designed by an Argentinian architect, Cesar Pelli.
Office overview in Kuala Lumpur
Kuala Lumpur, Malaysia - office space for rent, lease or sale
According to a report done by Cushman and Wakefield, at the end of 2019 the total office stock in Kuala Lumpur city centre is approximately 54.17m sq. ft., KL Fringe had a total of 44.29m sq. ft. and Decentralized areas in the city recorded a total of 30.34m sq. ft. The fringe area of Kuala Lumpur covers developments such as KL eco city, Southpoint, the Vertical corporate tower in Bangsar South, Aurora Tower, KLCC Lot, Nucleus @ Mutiara, Uptown and Icon City.
Kuala Lumpur offers many options on office buildings for lease, including the following
Retail overview in Kuala Lumpur
Kuala Lumpur, Malaysia - retail space for rent, lease or sale
Kuala Lumpur is the retail and fashion hub of Malaysia and boasts more than 65 shopping centres. This includes the world’s fourth largest mall, 1Utama which covers 5 million square feet. Another shopping mall in Kuala Lumpur that is most recognizable for its Egyptian inspired Sphinx architecture is The Sunway Pyramid Mall.
Prime rents for malls in KL city are said to have hit a high range of RM220 per sq. ft. per month. In the suburbs, 1Utama and The Sunway Pyramid Mall commanded the highest average prime rent of RM 55 per sq. ft. per month.
Kuala Lumpur offers many options on retail buildings for lease, including the following
Industrial overview in Kuala Lumpur
Kuala Lumpur, Malaysia - industrial space for rent, lease or sale
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. Popular industrial properties in Kuala Lumpur, Malaysia