10-28-2020, 10:41 AM
PETALING JAYA: Investors who recently bought completed commercial properties may have to wait up to a year to find tenants, according to property experts
They said the Covid-19 pandemic had made businessmen reluctant to expand to newly developed areas.
A video showing banner advertisements for shop lot rentals plastered onto buildings in Bandar Tropicana Aman went viral last week, and restaurant owners in the area told FMT that most of the lots had been vacant since the site’s completion last year.
Michael Kong, president of the Association of Valuers, Property Managers, Estate Agents & Property Consultants in the Private Sector Malaysia, said new properties on the outskirts of the Klang Valley would have a particularly tough time as supply had increased rapidly while demand had been sapped by the pandemic.
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They said the Covid-19 pandemic had made businessmen reluctant to expand to newly developed areas.
A video showing banner advertisements for shop lot rentals plastered onto buildings in Bandar Tropicana Aman went viral last week, and restaurant owners in the area told FMT that most of the lots had been vacant since the site’s completion last year.
Michael Kong, president of the Association of Valuers, Property Managers, Estate Agents & Property Consultants in the Private Sector Malaysia, said new properties on the outskirts of the Klang Valley would have a particularly tough time as supply had increased rapidly while demand had been sapped by the pandemic.
- More -