Supply of office space, or rather the over-abundance of it, is making market observers in the property sector cautious as a new line of mixed-use mammoth developments hit the market.
Think tanks who have crunched the data are already sending out warning signs, despite assurances by the government that the situation is under control.
Among the projects are the KL Metropolis by developer Naza TTDI Sdn Bhd who will add several million square feet of office, retail and residential space although occupancy rate for prime offices in Kuala Lumpur linger around 60-87 per cent.
Excluding the large-scale projects in the pipeline, a total of 6.69mn sq ft of new office space will be completed in Kuala Lumpur by 2015.
