Market Rate of Business Space
Rental Rates for Prime Office
| Location | RM | USD |
|---|---|---|
| Alor Setar, Kedah | 19.00 – 27.00 | 4.64 – 6.60 |
| Georgetown, Pulau Pinang | Georgetown 27.00 – 38.00 Outside Georgetown 36.00 – 48.00 | Georgetown 6.60 – 9.28 Outside Georgetown 8.79 – 11.73 |
| Ipoh, Perak | 17.00 – 24.00 | 4.15 – 5.86 |
| Kuala Lumpur* | 65.00 – 118.00* | 15.87 – 28.82* |
| Petaling Jaya, Selangor | 60.00 – 69.00 | 14.66 – 16.85 |
| Seremban, Negeri Sembilan | 20.00 – 32.00 | 4.88 – 7.82 |
| Melaka | 26.00 – 38.00 | 6.35 – 9.28 |
| Johor Bahru, Johor | Building Age> 5 Years 27.00 – 32.00 Building Age< 5 Years 38.00 – 48.00 | Building Age> 5 Years 6.60 – 7.82 Building Age< 5 Years9.28 – 11.72 |
| Kuantan, Pahang | 16.00 – 27.00 | 3.91 – 6.60 |
| Kuala Terengganu, Terengganu | 30.00 – 40.00 | 7.33 – 9.77 |
| Kota Bharu, Kelantan | 12.00 – 28.00 | 2.93 – 6.84 |
| Kota Kinabalu, Sabah | 16.00 – 65.00 | 3.91 – 15.88 |
| Kuching, Sarawak | 22.00 – 38.00 | 5.37 – 9.28 |
Notes: The Rental above are gross asking rentals per sq. m per month inclusive of service charge
*Rental excludes Petronas Twin Towers
Source: CBRE | WTW Research, March 2020.
Cost of Industrial Land and Factory Building
Cost of Industrial Land*
| Location | Selling Price per ft2 | Quit Rent per Annum | Annual Assessment Rate (% of property value) |
| Perlis | RM8.00 – 12.00 US$1.84 – 2.76 | RM296.50 per 100m² US$68.20 per 100m² | 8-10 |
| Kedah (PKNK) | RM10.00 – 20.00 US$2.30-4.60 | RM0.80 – 1.60 per m² US$0.18-0.37 per m² | 10 – 12 |
| Kedah (KHTP) | RM35.00 US$8.05 | RM0.40– 0.80 per ha. US$0.09 – 0.18 per ha. | 8 |
| Penang | Island (based on the Valuation and Property Services Department) Mainland Penang Science Park and Penang Science Park North RM 50.00 (US$11.50) per sf for 60 year leasehold Batu Kawan iIndustrial Park RM 52.00 US$11.96 per sf for 60 year leasehold | Island : RM 1.15 US$0.27 Per sqm Pending Mainland : RM 1.29 (US$0.30) Per sqm | Island 14.75 Mainland 11.25 |
| Perak | RM10.00 – 30.00 US$2.30 – 6.90 | RM 4,500 – 11,000 per ha. US$1,035 – 2,530 per ha. | 16 |
| Selangor | RM65.00– 200.00 US$14.95 – 46.00 | RM2,700.00 – 24,000.00 per ha. US$621 – US$5,520 per ha. | 8 – 13 |
| Negeri Sembilan | RM10.00– 70.00 US$2.30 – 16.10 | RM1,976.84 – 7,700.00 per ha. US$455 – 1,771 per ha. | 8 – 13 |
| Melaka | RM20.00 – 60.00 US$4.60 – 13.80 | RM 60 – 240 per 100m² US$13.80 -55.20 per 100m² | Building 0.35 – 0.55 Vacant Land 0.07 –0.5 |
| Johor | RM25.00– 90.00 US$5.75– 20.70 | Light Industry: RM1,600 per ha. US$368 per ha. Medium Industry: RM2,100 per ha. US$483 per ha. Heavy Industry: RM2,400 per ha. US$552 per ha. | 0.33 – 1.0 |
| Pahang | RM7.00– 21.00 US$1.61-4.83 | RM 15.00 – 21.00 per sq meter US$3.45 – 4.83 per sq meter | 7 |
| Terengganu | RM2.00 – 70.00 US$0.46 – 16.10 | RM8 – 20 per 100m² US$1.84 – 4.60 per 100m² | 5 – 10 |
| Kelantan | RM26.00-27.00 US$5.98-6.21 | RM7,000.00 per ha US$1,610 per ha. | 5 – 12 |
| Sabah* -KKIP -POIC | RM20.50– 28.00 US$4.72-6.44 RM26.00 -RM30.00 US$5.98 –6.90 | RM0.25 p.s.f. US$0.06 p.s.f RM 0.05 p.s.f US$0.01 p.s.f | 9 – 15 |
| Sarawak | RM8.00– 20.00 US$1.84-4.60 | 0.05 per m² (Country Land) 0.07-0.27 per m² (Town and Sub urban Land) | 5.5 – 25.17 |
Cost of Ready-Built Factory*
| Location | Selling Price per ft2 of floor area | Rental per ft2 per month |
| Perlis | RM436.00 US$100 | RM0.75 US$0.17 |
| Kedah (PKNK) | RM100.00 – 150.00 US$23.00 – 34.50 | RM0.50 – 0.70 US$0.12-0.16 |
| Kedah (KHTP) | Not applicable | RM1.00 – 2.00 US$0.23 – 0.46 |
| Penang | Island RM 180.00 – 440.00 US$41.40 – 101.20 Mainland RM 150.00 -350.00 US$34.50– 80.50 | Island RM 1.50 – 3.50 US$0.35– 0.81 Mainland 1.00 -1.70 US$0.23– 0.39 |
| Perak | RM97 – 115 US$22.31 – 26.45 | RM0.50 – 0.70 US$0.12 – 0.16 |
| Selangor | RM100.00– 500.00 US$23.00– 115.00 | RM1.50 – 3.00 US$0.35 – 0.69 |
| Negeri Sembilan | RM74.00 – 350.00 US$17.02 – 80.50 | RM0.90 – 1.50 US$0.21 – 0.35 |
| Melaka | RM100 – 200.00 US$23.00 -46.00 | RM1.00– 2.00 US$0.23 – 0.46 |
| Johor | RM140.00 – 400.00 US$32.20-92.00 | RM1.20 – 3.00 US$0.28 – 0.69 |
| Pahang | RM50.00 – 127.00 US$11.50 – 29.21 | RM0.40 – 0.60 US$0.09 – 0.14 |
| Terengganu | Depends on the market | Depends on the market |
| Kelantan | RM100.00-150.00 US$23.00-34.50 | RM0.75 – 0.85 US$0.17 – 0.20 |
| Sabah* -KKIP | Detached RM1.9 mil -4 mil US$437,000-920,000 Semi Detached RM 1.4mil -1.6 mil US$322,000-368,000 Cluster RM 700,000 – 900,000 US$161,000 – 207,000 | Ready Built factory Phase 5 (coming soon) |
| Sabah* -POIC | (Only for rent) | RM1.25 p.s.f US$0.29 (15,000 p.s.f – 3 units available) |
| Sarawak | RM 49.00 per ft² US$11.27 (based on MINTRED’S current rental and selling price) | RM 0.25 per ft² US$0.06 (based on MINTRED’S current rental and selling price) |
Source: Costs of Doing Business, MIDA
