JLL: What’s next for Greater Kuala Lumpur offices?
As Malaysia went through intermittent lockdowns due to the ever-worsening COVID-19 pandemic, the real estate market experienced a trend of office occupiers right-sizing their office space and put expansion plans on hold as they reconsider changing work environments and practices.
Different industries have been impacted differently throughout this pandemic, with an unequal impact of work from home (WFH). With more than a year of WFH experience under their belt, occupiers are beginning to realise that WFH is feasible thus giving rise to the question, “Is the office becoming obsolete?”. For some businesses, productivity increases if work can be done remotely, while this may not be the case for others that require physical interactions. With that said, there will always be a need for office space as there are limitations to WFH. The difference would be how these offices are utilised and their new roles in the corporate world.
