InvestKL: Influx of MNCs will ensure office rental market remains competitive

InvestKL: Influx of MNCs will ensure office rental market remains competitive

Azmi: KLCC, Bangsar South and TRX have the potential to attract MNCs. (Photo by Chin Wai Lun/EdgeProp.my)

KUALA LUMPUR (Sept 19): The increasing number of multinational companies (MNCs) in Malaysia will have a multiplier effect on Kuala Lumpur’s market, especially the local office rental segment, said InvestKL acting CEO Muhammad Azmi Zulkifli.

The government investment promotion agency which has attracted 85 MNCs to date since since its inception in 2011, is confident about achieving its target of welcoming 100 companies by 2020.

“They have committed more than RM13 billion in investments in research and development, technology, automation and so on. Most importantly, RM7.6 billion [of the investments] have been realised,” said Azmi.

These MNCs also created some 12,000 jobs and provided spillover effects to the country’s economy. For instance, MNCs contributed to an estimated rental income of RM131 million per annum, or equivalent to about 1.8 million sq ft of office space rental.