- Investment activity totaled RM1.286 billion in Q3 2024, led by major transactions such as Tropicana Gardens Mall (RM680 million) and Courtyard Marriott Malacca (RM160 million). KIP REIT was active in diversifying its portfolio, accounting for six industrial deals.
- The office market saw slight declines in occupancy rates (76.4%) due to new supply. However, relocations by Huawei at Exchange 106 (77,000 sq ft) and a financial institution at Menara Dion (150,000 sq ft) highlighted demand for prime spaces. Prime office rents in KL Sentral/Mid Valley held steady at RM7.26 psf.
- The retail sector continued to evolve, with Elmina Lakeside Mall achieving over 90% occupancy and introducing anchor tenants like Jaya Grocer and Harvey Norman. Coach Play in Bangsar debuted as a multi-concept retail and F&B hub, a first in Southeast Asia.
- The high-end residential market saw average prices moderating to RM934 psf (-0.7%), while rental rates rose to RM2.85 psf. Notable launches included Bamboo Hills Residence, a transit-oriented development, and ASA Residence, featuring Japanese-inspired designs.
- GDP grew by 5.3% in Q3 2024, driven by the construction sector (+19.9%), manufacturing (+5.6%), and services (+5.2%). The unemployment rate improved to 3.2%, while inflation remained stable at 1.9%.
- The Business Conditions Index rebounded to 104.9, reflecting increased confidence and strong sales performance across industries.
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