KUALA LUMPUR: The outlook for Malaysia’s industrial property market is looking favourable as it is expected to see more enquiries, especially from manufacturers, said independent property consultancy firm, Knight Frank Malaysia.
Its Capital Markets executive director Allan Sim said manufacturers would be looking to take advantage of the tax incentives, adding that the industrial real estate market has remained resilient in the face of the COVID-19 pandemic.
“We also foresee more international e-commerce operators considering Malaysia as an important regional distribution hub within their network,“ he said in a statement in conjunction with Knight Frank Malaysia latest research report, Real Estate Highlights - First Half of 2020.
Additionally, the firm said the Malaysian government’s move to provide generous tax incentives for foreign manufacturers under the National Economic Recovery Plan would help to position the country as a strong contender in attracting more overseas manufacturing operations to its shores.
“This is timely given the ongoing major restructuring of global supply chains arising from the aftermath of the pandemic, as well as the ongoing United States-China trade war,” it said.
Meanwhile, on the residential market segment, Knight Frank Malaysia managing director Sarkunan Subramaniam said he expected to see a slow uptick post-Movement Control Order (MCO), backed by the government’s various stimulus, particularly the reintroduction of the Home Ownership Campaign (HOC).
“Moving forward, developers may also reconsider their product positioning and marketing strategies, including leveraging technologies and partnering with e-commerce platforms to improve their sales,” he said. -Bernama