Despite the long uncertainty after the 15th general election (GE15) results, the stability achieved with the appointment of Malaysia’s 10th prime minister will have a positive impact on the commercial and industrial property markets in 2023, according to comments released on Nov 30 by Irhamy Ahmad MRICS, Chartered Valuation Surveyor and CEO and founder of Irhamy Valuers International.
“Malaysia’s economy is expected to grow moderately between 4% and 5% in 2023. According to the Finance Ministry, that compares to the anticipated 6.5% to 7% growth in 2022.”
“In 2023, Malaysia will benefit from corporate efforts to diversify its global supply chains. After the disruption of the pandemic, companies want redundant and diversified supply chains. That often means locating facilities in ASEAN, especially in Malaysia.”