The buoyancy of industrial real estate in the District of Klang, in Selangor, Malaysia overall is all too evident now due to recent statistics. Not just prospering in one district, but from the recent data released by the National Property Information Centre (NAPIC), the State of Selangor really has the lion share of the industrial property.
The two following snapshots of the key figures will make startling comparisons in terms of supplies of the industrial properties.
Figure 1: Supply of Existing Industrial Properties in Kuala Lumpur, Selangor, and Overall Malaysia as at Q3 2021 (NAPIC)
The first chart, (Figure 1) shows the supply of the existing industrial properties of Kuala Lumpur, Selangor and the whole of Malaysia. This shows Selangor has garnered almost 35 per cent (41,265 units) of the existing supply compared with the overall countrywide figure (118,821 units). Putting Kuala Lumpur and Selangor (Klang Valley) versus the whole country, making it 40 percent.
Figure 2: Supply of Completed Industrial Properties in Malaysia as at Q3 2021 (NAPIC)
Figure 2 shows the supply of the completed industrial properties as at Q3 2021, confirming the position further. Despite the pandemic, it shows that Selangor captured almost 80 per cent of the newly completed units compared to the whole country.
Selangor and Kuala Lumpur, fondly called the Klang Valley, have always been the forefront of development since time immemorial. Further-a-field, if one combines the Gross Domestic Product (GDP) of the two, the Klang Valley is undoubtedly unassailable at RM173,173 compared to the national average of RM43,475 (source: the Statistics Dept, Malaysia 2021). But for now, Selangor basks as it again proves that she is the industrial powerhouse of the country.
This article was written by Irhamy Ahmad, Founder and Managing Director of Irhamy Valuers International.
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