Kuala Lumpur DIGEST, 1Q 2024
The market has normalized, growing at a sustainable pace
Key Highlights:
- GDP grew 4.2% in 1Q 2024, up from 2.9% in 4Q 2023.
- Six major investment deals valued at RM2.48 billion, including KLCC Suria share buy-back at RM1.95 billion.
- Average office occupancy rate increased to 76.4% in 1Q 2024, driven by flight-to-quality and relocations.
- Retail sales expanded by 7.8% in 1Q 2024, driven by festive sales and tourism
- Average transacted price for high-end condominiums increased to RM928 per sq ft, up 2.35% from RM906 per sq ft in the previous quarter
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