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Market Rate of Business Space

Market Rate of Business Space

Rental Rates for Prime Office

LocationRMUSD
Alor Setar, Kedah19.00 – 27.004.60 – 6.54
Georgetown, PenangGeorgetown 27.00 – 48.00

Outside Georgetown 36.00 – 48.00
Georgetown 6.54 – 9.20

Outside Georgetown 8.72 – 11.62
Ipoh, Perak16.00 – 24.004.12 – 5.81
Kuala Lumpur*65.00 – 118.00*15.74 – 28.57*
Petaling Jaya, Selangor53.80 – 69.0014.43 – 16.71
Seremban, Negeri Sembilan20.00 – 32.004.84 – 7.75
Melaka26.00 – 38.006.30 – 9.20
Johor Bahru, JohorBuilding Age> 5 Years 27.00 – 32.00

Building Age< 5 Years 38.00 – 48.00
Building Age> 5 Years 6.54 – 7.75

Building Age< 5 Years 9.20 – 11.62
Kuantan, Pahang 16.00 – 33.003.87 – 6.54
Kuala Terengganu, Terengganu30.00 – 40.007.26 – 9.69
Kota Bharu, Kelantan12.00 – 28.002.91 – 6.78
Kota Kinabalu, Sabah16.00 – 60.003.87 – 15.74
Kuching, Sarawak17.00 – 38.005.32 – 9.20

 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 2021.

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$1.93 – 2.91
RM296.50 per 100m²
US$71.81 per 100m²
8-10
Kedah (PKNK) RM5.00 – 20.00
US$1.21-4.84
RM0.80 – 1.60 per m²
US$0.19-0.39 per  m²
10 – 12
Kedah (KHTP) RM45.00
US$10.90
RM2,000– 3,000 per ha.
US$484 – 727 per ha.
8
Kedah (KSTP)RM15.00 – RM30.00
US$3.63 -7.27
N/AN/A
Penang Island (based on the Valuation)

  Mainland Penang Science Park and Penang Science Park North RM 50.00 (US$12.11) per sf for 60 year leasehold

  Batu Kawan industrial Park RM 55.00 US$13.32 per sf for 60 year leasehold  
Island : RM 1.29 US$0.31 Per sqm (minimum RM300 US$72.66 Per Lot)
Pending Mainland : RM 1.08  (US$0.26) Per sqm
MBPP (Island)
12

MBSP (Mainland)
12
Perak RM18.00 – 38.00
US$4.36 – 9.20
RM 0.40 – 0.90 per sqm.
US$0.10 – 0.22 per sqm.
10 – 16
Selangor RM65.00– 200.00
US$15.74 – 48.44
RM2,700.00 – 24,000.00 per ha.
US$654 – US$5,813 per ha.
8 – 13
Negeri Sembilan RM20.00– 70.00
US$4.84 – 16.95
RM1,976.84 – 7,700.00 per ha.
US$478 – 1,864 per ha.
8 – 13
Melaka RM30.00 – 59.00
US$7.27 – 14.29
RM 60 – 240 per 100m²
US$14.53 -58.13 per 100m²
Building 0.35 – 0.55

Vacant Land 0.07 –0.5  
Johor RM25.00– 90.00
US$6.05– 21.80
  Light Industry: RM1,600 per ha.
US$388 per ha.

Medium Industry: RM2,100 per ha.
US$509 per ha.

  Heavy Industry: RM2,400 per ha.
US$581 per ha.  
0.33 – 1.0
Pahang RM7.00– 21.00
US$1.69-5.09
  RM 15.00 – 21.00 per sq meter
US$3.63 – 5.09 per sq meter  
7
Terengganu RM1.95 – 11.50
US$0.47 – 2.79
Depend of land type either
complete with infra or not
(lease only)
RM8 – 20 per 100m²
US$1.94 – 4.84 per 100m²
5 – 10
Kelantan   RM26.00-27.00
US$6.29-6.53  
RM7,000.00 per ha
US$1,695 per ha.
5 – 12
Sabah*
-KKIP  

                 
-POIC          
RM20.50– 28.00
US$4.96-6.78


RM26.00 -RM30.00
US$6.29 –7.26
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$1.93-4.84
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$106
RM0.75
US$0.18
Kedah (PKNK) RM50.00 – 70.00
US$12.11 – 16.95
RM0.50 – 0.70
US$0.12-0.17
Kedah (KHTP) Not applicable RM2.00
US$0.48
Kedah
(KSTP)
Not applicable Not applicable
Penang Island RM 180.00 – 440.00
US$43.59 – 107

Mainland RM 150.00 -350.00
US$36.33– 84.76
Island RM 1.50 – 3.50
US$0.36– 0.85

Mainland  1.00  -2.00
US$0.24– 0.48
Perak RM80 – 180
US$19.38 – 43.59
RM0.60 – 1.70
US$0.14 – 0.41
Selangor RM100.00– 500.00
US$24.21– 121.00
RM1.50 – 3.00
US$0.36 – 0.73
Negeri
Sembilan
RM74.00 – 400.00
US$17.92 – 96.88
RM0.90 – 1.50
US$0.22 – 0.36
Melaka RM100 – 200.00
US$24.21 -48.48
RM1.00– 2.00
US$0.24 – 0.48
Johor RM140.00 – 400.00
US$33.90-96.88
RM1.20 – 3.00
US$0.29 – 0.73
Pahang RM50.00 – 127.00
US$12.11 – 30.76
RM0.40 – 0.60
US$0.10 – 0.15
Terengganu Depends on the market Depends on the market
Kelantan RM100.00-150.00
US$24.21-36.33
RM0.75 – 0.85
US$0.18 – 0.21
Sabah*
-KKIP  

                 
  Detached RM1.9 mil -4 mil
US$460,160-968,758  

Semi Detached RM 1.4mil -1.6 mil
US$330,065-387,503
 
Cluster RM 700,000 – 900,000
US$169,533 – 217,970
  Ready Built factory Phase 5 (coming soon)
Sabah*
-POIC
(Only for rent)RM1.25 p.s.f
US$0.30
(15,000 p.s.f – 3 units available)
Sarawak RM 49.00 per ft²      
US$11.87
(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

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