{"id":752,"date":"2023-05-18T04:04:19","date_gmt":"2023-05-18T04:04:19","guid":{"rendered":"https:\/\/demo.cmssuperheroes.com\/themeforest\/fortis\/?p=752"},"modified":"2023-10-12T21:01:34","modified_gmt":"2023-10-12T21:01:34","slug":"commercial-property-demand-expected-to-rise-in-2023","status":"publish","type":"post","link":"https:\/\/www.saltnlightrealty.com\/zh\/commercial-property-demand-expected-to-rise-in-2023\/","title":{"rendered":"Commercial Property Demand Expected to Rise in 2023"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"752\" class=\"elementor elementor-752\">\n\t\t\t\t\t\t\t        <section class=\"elementor-section elementor-top-section elementor-element elementor-element-3f45e1ed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3f45e1ed\" data-element_type=\"section\">\r\n\t\t\r\n\t\t        <div class=\"elementor-container elementor-column-gap-default\" >\r\n\t\t        <div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-456837a9\" data-id=\"456837a9\" data-element_type=\"column\">\r\n        <div class=\"elementor-widget-wrap elementor-element-populated\">\r\n                        \t\t<div class=\"elementor-element elementor-element-54bec41 elementor-widget elementor-widget-image\" data-id=\"54bec41\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 09-08-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"840\" height=\"562\" src=\"https:\/\/www.saltnlightrealty.com\/wp-content\/uploads\/2023\/05\/1671593472689667203522026c69e14826b6bb7815-840x562.webp\" class=\"attachment-large size-large wp-image-2144\" alt=\"\" srcset=\"https:\/\/www.saltnlightrealty.com\/wp-content\/uploads\/2023\/05\/1671593472689667203522026c69e14826b6bb7815-840x562.webp 840w, https:\/\/www.saltnlightrealty.com\/wp-content\/uploads\/2023\/05\/1671593472689667203522026c69e14826b6bb7815-400x267.webp 400w, https:\/\/www.saltnlightrealty.com\/wp-content\/uploads\/2023\/05\/1671593472689667203522026c69e14826b6bb7815-570x380.webp 570w, https:\/\/www.saltnlightrealty.com\/wp-content\/uploads\/2023\/05\/1671593472689667203522026c69e14826b6bb7815-18x12.webp 18w\" sizes=\"(max-width: 840px) 100vw, 840px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-44c5088f elementor-widget elementor-widget-text-editor\" data-id=\"44c5088f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 09-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<div><em><span class=\"s1\">The overall occupancy rate for purpose-built offices and shopping complexes are estimated to be about 71% and 75% respectively<span class=\"Apple-converted-space\">\u00a0<\/span><\/span><\/em>\r\n\r\nTHE\u00a0demand 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.\r\n\r\nCCO &amp; 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.<span class=\"Apple-converted-space\">\u00a0<\/span><\/div>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">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.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">\u201cBarring any unforeseen circumstances, commercial buildings located at strategic locations and are well-maintained should record improvements in 2023,\u201d he told\u00a0<i>The Malaysian Reserve (TMR)\u00a0<\/i>recently.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">Speaking on what happens to the old, vacated buildings when big tenants move out to another new building, Chan said the old and unattractive commercial buildings will suffer considerably.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">He noted that many old purpose-built office buildings have remained vacant after the big tenants vacated these buildings.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">\u201cThis will reduce rental rates too.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">\u201cWhile some old office buildings may be able to survive with low rental rates, many old and poorly managed shopping complexes were forced to totally close down when they are no longer operationally viable,\u201d he said.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">Nevertheless, Chan pointed out that many old buildings are located at prime locations and are suitable for redevelopment, repositioning or repurposing.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">He added that while the current property market situation may not be conducive for redevelopment, owners should consider repositioning the building or changing the building to other purposes such as a whole- sale centre or specialised complex, among others.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">\u201cWe suggest the government provides tax incentives to the building owners that undertake major refurbishment to improve the building conditions or to repurpose the building.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">\u201cThis will encourage owners to undertake refurbishment on the building and enhance the economic value of the building as opposed to leaving them empty,\u201d he said.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">Chan also stressed that the government should conduct a detailed study on the possibility of creating a special development zone for the old commercial area.\u00a0<\/span><\/span><\/p>\r\n<p class=\"p2\"><span class=\"Apple-converted-space\"><span class=\"s1\">He said such special development zones will encourage owners to redevelop or repurpose these old commercial buildings.\r\n\r\n\r\nMeanwhile, Centre for Market Education research fellow Dr Consilz Tan said&#8230;..<\/span><\/span><\/p>\r\n<p class=\"p2\">\r\n<span class=\"Apple-converted-space\"><span class=\"s1\">Read more at<u>\u00a0<a href=\"https:\/\/themalaysianreserve.com\/2022\/12\/20\/commercial-property-demand-expected-to-rise-in-2023\/\">https:\/\/themalaysianreserve.com\/2022\/12\/20\/commercial-property-demand-expected-to-rise-in-2023\/<\/a><\/u><\/span><\/span>\r\n<\/p>\r\n<strong>News from The Malaysian Reverse &#8211;<\/strong>\u00a0<time datetime=\"2022-12-20\"><strong>Tuesday, December 20th, 2022<\/strong><\/time>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t        <\/div>\r\n        <\/div>\r\n        \t\t        <\/div>\r\n        <\/section>\r\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Our goal is not only to certify all of our project leaders and superintendents, but to include this program in the growth and development plan for site residents<\/p>","protected":false},"author":1,"featured_media":2144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[156],"tags":[],"class_list":["post-752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/posts\/752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/comments?post=752"}],"version-history":[{"count":5,"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/posts\/752\/revisions"}],"predecessor-version":[{"id":2148,"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/posts\/752\/revisions\/2148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/media\/2144"}],"wp:attachment":[{"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/media?parent=752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/categories?post=752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saltnlightrealty.com\/zh\/wp-json\/wp\/v2\/tags?post=752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}