Savills’ Khong says office rental rate has been flattish over the last decade as more new spaces, in large numbers, are added to the office market annually. It is a “trade-off” forced on them because of the flood of office space and the poor business climate. It costs at least about RM150 per sq ft to RM250 per sq ft to fit out a standard empty office space. The employee from the Grade A building consolidation says technology has helped the company to reduce workers and office space needs. For now, office space may have “taken a hit” but the office will still be required in many sectors.

Source: The Star September 05, 2020 03:22 UTC