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Factors affecting office rent in Kuala Lumpur (KL)

The oversupply of office space in the Golden Triangle Kuala Lumpur (GTKL) and slow on-going demand has resulted in pressure on rental performance. Studies have shown that there are several strategies to improve rent performance. The purpose of this paper is to obtain a deeper understanding of these...

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Main Authors: Cheah, Jun Hwa, Ng, Siew Imm, Teoh, Kenny Guan Cheng, Lee, Chin
Format: Article
Language:English
Published: Faculty of Economics and Management, Universiti Putra Malaysia 2015
Online Access:http://psasir.upm.edu.my/id/eprint/41754/1/6.%20Factors%20Affecting%20Office%20Rent%20in%20Kuala%20Lumpur%20%28KL%29.pdf
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spelling oai:psasir.upm.edu.my:41754 http://psasir.upm.edu.my/id/eprint/41754/ Factors affecting office rent in Kuala Lumpur (KL) Cheah, Jun Hwa Ng, Siew Imm Teoh, Kenny Guan Cheng Lee, Chin The oversupply of office space in the Golden Triangle Kuala Lumpur (GTKL) and slow on-going demand has resulted in pressure on rental performance. Studies have shown that there are several strategies to improve rent performance. The purpose of this paper is to obtain a deeper understanding of these strategies and their applicability in the context of GTKL. Questionnaires were distributed to 42 office buildings in the GTKL. A total of 212 tenants completed the questionnaire and secondary data on building certifications and the building average rents were extracted from reliable property website sources. The results suggest that office building rental performance can be improved if the building management charges lower rent to longer-stay tenants, attracts more foreign-owned or bigger-sized firm and gets Multimedia Super Corridor (MSC) or Green certifications. The implications for managers and theories in this regard are then discussed. Faculty of Economics and Management, Universiti Putra Malaysia 2015-12 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/41754/1/6.%20Factors%20Affecting%20Office%20Rent%20in%20Kuala%20Lumpur%20%28KL%29.pdf Cheah, Jun Hwa and Ng, Siew Imm and Teoh, Kenny Guan Cheng and Lee, Chin (2015) Factors affecting office rent in Kuala Lumpur (KL). International Journal of Economics and Management, 9 (spec. Dec.). pp. 115-134. ISSN 1823-836X http://econ.upm.edu.my/ijem/vol9noS-DEC/6.%20Factors%20Affecting%20Office%20Rent%20in%20Kuala%20Lumpur%20(KL).pdf
institution UPM IR
collection UPM IR
language English
description The oversupply of office space in the Golden Triangle Kuala Lumpur (GTKL) and slow on-going demand has resulted in pressure on rental performance. Studies have shown that there are several strategies to improve rent performance. The purpose of this paper is to obtain a deeper understanding of these strategies and their applicability in the context of GTKL. Questionnaires were distributed to 42 office buildings in the GTKL. A total of 212 tenants completed the questionnaire and secondary data on building certifications and the building average rents were extracted from reliable property website sources. The results suggest that office building rental performance can be improved if the building management charges lower rent to longer-stay tenants, attracts more foreign-owned or bigger-sized firm and gets Multimedia Super Corridor (MSC) or Green certifications. The implications for managers and theories in this regard are then discussed.
format Article
author Cheah, Jun Hwa
Ng, Siew Imm
Teoh, Kenny Guan Cheng
Lee, Chin
spellingShingle Cheah, Jun Hwa
Ng, Siew Imm
Teoh, Kenny Guan Cheng
Lee, Chin
Factors affecting office rent in Kuala Lumpur (KL)
author_facet Cheah, Jun Hwa
Ng, Siew Imm
Teoh, Kenny Guan Cheng
Lee, Chin
author_sort Cheah, Jun Hwa
title Factors affecting office rent in Kuala Lumpur (KL)
title_short Factors affecting office rent in Kuala Lumpur (KL)
title_full Factors affecting office rent in Kuala Lumpur (KL)
title_fullStr Factors affecting office rent in Kuala Lumpur (KL)
title_full_unstemmed Factors affecting office rent in Kuala Lumpur (KL)
title_sort factors affecting office rent in kuala lumpur (kl)
publisher Faculty of Economics and Management, Universiti Putra Malaysia
publishDate 2015
url http://psasir.upm.edu.my/id/eprint/41754/1/6.%20Factors%20Affecting%20Office%20Rent%20in%20Kuala%20Lumpur%20%28KL%29.pdf
_version_ 1819296392968929280
score 13.4562235

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