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BUSINESS • 16/01/2025 03:31 PM

Steady Growth In The Property Sector This Year - Rahim & Co

KUALA LUMPUR, Jan 16 (Bernama) -- The local property market is poised for steady growth in 2025, driven by sustained momentum in owner-occupier residential developments and the rise of emerging industries such as data centres and renewable energy.

Rahim & Co executive chairman Tan Sri Abdul Rahim Abdul Rahman said the convergence of digitalisation, sustainability, environmental, social, and governance (ESG) awareness, and rising demand for integrated urban living will shape Malaysia's property market.

“With continued government support, such as through incentives for affordable housing, investor-friendly policies, as well as green building and tech-driven initiatives, the property market is expected to continue regenerating steadily,” he said at the preview of the company’s Property Market Review 2024/2025 report today.

While challenges persist, the outlook remains positive for developers who can adapt to the market’s evolving needs.

Its research director Sulaiman Akhmady Mohd Saheh said strategic infrastructure investments, including the East Coast Rail Link, Pan Borneo Highway and Rapid Transit System, will create new investment opportunities.

“The refined Malaysia My Second Home (MM2H) programme and the upcoming Johor-Singapore Special Economic Zone (JS-SEZ) are also expected to generate significant interest.

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“In the commercial sector, despite supply pressure, ‘flight-to-green’ and ‘flight-to-quality’ trends will redefine the office and retail markets, creating a new narrative within the segment,” he said, adding that the tone for 2025 is likely to be influenced by factors such as fuel subsidy and electricity tariff adjustments and global uncertainties.

“Nevertheless, demand for well-established areas is expected to remain resilient. Demand for affordable housing will continue, supported by government initiatives.

“The retail sector is poised for gradual revitalisation, with new malls and stores thriving. The occupancy rate of shopping centres is expected to improve as operators embrace innovation and mall instructiveness to increase visitors’ experience,” he said.

In the office market, the shift towards remote and hybrid work models is transforming office space demand.

“Companies are prioritising flexibility, with offices evolving into collaborative hubs rather than traditional workspaces.

“ESG considerations, along with amenity-rich locations and easy transport access, are key drivers of future demand,” he added.

-- BERNAMA

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