Logistics rent growth slows across the Asia-Pacific; Malaysia defies trend
The completion of premium industrial properties and demand from the e-commerce and manufacturing sectors power Greater KL’s performance
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[KUALA LUMPUR] Malaysia’s Greater Kuala Lumpur (KL) posted a solid 5 per cent year-on-year growth in rents for logistics spaces in 2024, outpacing the regional slowdown, though it still trailed Melbourne and Brisbane, which led the Asia-Pacific market with even stronger gains.
The strong showing in Malaysia’s capital city and its surrounding areas over the period was led by the completion of premium industrial properties and strong demand from the e-commerce and manufacturing sectors, said a new report by Knight Frank on the performance of Asia-Pacific logistics in the second half of last year.
Greater KL’s growth also underscores a broader shift, with companies diversifying manufacturing bases across South-east Asia and India, ahead of potential US tariff hikes under a second Trump administration, the report said.
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