The overall occupancy rate for purpose-built offices and shopping complexes are estimated to be about 71% and 75% respectively. The overall occupancy rate for purpose-built offices and shopping complexes are estimated to be about 71% and 75% respectively THE demand for retail and office space is expected to increase next year, despite hybrid work trends, rising interest rates, and overall economic uncertainty continuing to cloud the future of commercial buildings. CCO & Associates (KL) Sdn Bhd ED Chan Wai Seen said the overall occupancy rate for purpose-built offices and shopping complexes are estimated to be about 71% and 75% respectively. He added that occupancy rates of the commercial buildings were at their worst during the Covid-19 pandemic and many commercial buildings are recovering with the easing of the Covid-19 standard operating procedures and reopening of the economic sectors. “Barring any unforeseen circumstances, commercial buildings located at strategic locations and are well-maintained should record improvements in 2023,” he told The Malaysian Reserve (TMR) recently.

PETALING JAYA: The 14th edition of the Malaysian Institute of Estate Agents (MIEA) National Real Estate Awards recognised 60 top-achieving real estate practitioners and firms during its gala dinner over the weekend.

PETALING JAYA: The industrial property segment is expected to see stronger growth prospects in the year ahead, while the outlook for other segments in the property market such as residential and commercial appear muted amid the challenging economic landscape.