Building & Investment (Nov- Dec 2018) November - December 2018

OUTLOOK ƐƐŚŽǁŶŝŶTable 1͕ƚŚĞĞƐƟŵĂƚĞĚŶƵŵďĞƌŽĨƉĂƌŬŝŶŐƐƉĂĐĞƐƚŚĂƚĂƌĞƉŽƚĞŶƟĂůůǇůĞŌĞŵƉƚǇŝŶDĂůĂǇƐŝĂʹĂƐĂ ƌĞƐƵůƚŽĨƵŶŝƚƐƵŶƐŽůĚŝŶϮϬϭϳʹŝƐϮϲ͕ϳϲϲǁŝƚŚĂƚŽƚĂůďƵŝůƚƵƉĂƌĞĂŽĨϵ͕ϯϲϴ͕ϭϬϬƐƋŌ͘ǇĐŽŵƉĂƌŝŶŐǁŝƚŚƚŚĞƚŽƚĂů ƵŶŝƚůĂƵŶĐŚĞĚŽĨŚŝŐŚͲƌŝƐĞĚĞǀĞůŽƉŵĞŶƚƐŝŶϮϬϭϳ;ϰϮ͕ϲϭϱƵŶŝƚƐͿ͕ďŽƚŚƌĞƐŝĚĞŶƟĂůĂŶĚĐŽŵŵĞƌĐŝĂů͕ŝƚŝƐĨŽƵŶĚƚŚĂƚ ϮϯйŽĨƚŚĞŵĂŶĚĂƚŽƌǇƉƌŽǀŝĚĞĚƉĂƌŬŝŶŐƐƉĂĐĞƐĂƌĞƵŶĚĞƌͲƵƐĞĚ͘tŝƚŚĂďƵŝůƚƵƉĂƌĞĂŽĨϯϱϬƐƋŌƉĞƌƉĂƌŬŝŶŐƐƉĂĐĞ ;ŝŶĐůƵĚŝŶŐĂĐĐĞƐƐůĂŶĞƐͿ͕ŝĨŽŶĞĂĐƌĞŽĨƐƋƵĂƌĞŇĂƚůĂŶĚĐĂŶĐŽŵĨŽƌƚĂďůǇŚŽůĚĂďŽƵƚϭϮϬƉĂƌŬŝŶŐƐƉĂĐĞƐ͖ƚŚĞŶ͕ĂďŽƵƚ ϮϮϯĂĐƌĞƐŽĨůĂŶĚĂƌĞǁĂƐƚĞĚĨŽƌƉĂƌŬŝŶŐ͘ Location Overhang Unit / Available Space Low-cost Flat Malaysia Total Empty Total Built Purpose-built Parking Space Up Area (sq ft) Office (sq ft) Flat Condo / Apartment Service Apartment 706 704 9,496 6,364 38,103 26,842 9,394,700 Penang 399 - 2,217 209 2,070 5,046 1,766,100 Selangor 50 278 1,714 1,105 9,563 4,880 1,708,000 Johor 119 250 1,476 3,893 2,098 7,218 2,526,300 - - 837 1,211 19,186 2,923 1,023,050 KL (Note: MPR for low-cost flat, flat, and service apartment is assumed to be 1:1; MRP for condo/apartment is assumed to be 1:2; MPR for purpose-built office is assumed to be 1 space per every 500 sq ft) Table 1: Estimates of empty parking spaces in residential high-rise development, 2017. THE IMPACT OF CAR PARKING ǀĞŶŝĨƚŚĞƉĂƌŬŝŶŐƐƉĂĐĞƐŝŵƉŽƐĞĚďǇDWZĂƌĞĨƵůůǇƵƟůŝƐĞĚ͕ŝƚ ƚĞŶĚƐƚŽƉƵƚŚƵŐĞƉƌĞƐƐƵƌĞŽŶƵƌďĂŶůĂŶĚƵƐĞ͘Figure 2ƐŝŵƵůĂƚĞƐ ƚŚĞƌĞůĂƟŽŶƐŚŝƉďĞƚǁĞĞŶďƵŝůĚŝŶŐƐƉĂĐĞĂŶĚƉĂƌŬŝŶŐƐƉĂĐĞĨŽƌĂ ƐĞƌŝĞƐŽĨƐĐĞŶĂƌŝŽƐŝŶĂĐŽŵŵĞƌĐŝĂůĚĞǀĞůŽƉŵĞŶƚ͘/ŶĂůůĐĂƐĞƐ͕ƚŚĞ ďƵŝůĚŝŶŐŝƐĂƐƐƵŵĞĚƚŽďĞƚŚƌĞĞƐƚŽƌŝĞƐƚĂůů͘WĂƌŬŝŶŐƌĞƋƵŝƌĞŵĞŶƚ ƌĂŶŐŝŶŐĨƌŽŵϬ͘ϱƐƉĂĐĞƐƉĞƌϭ͕ϬϬϬƐƋŌƚŽϰ͘ϬƐƉĂĐĞƐƉĞƌϭ͕ϬϬϬƐƋŌ ĂƌĞƐŚŽǁŶ͕ďŽƚŚĂƐƐŝŶŐůĞͲůĞǀĞůƐƵƌĨĂĐĞůŽƚƐĂŶĚƚŚƌĞĞͲƐƚŽƌǇƉĂƌŬŝŶŐ ƐƚƌƵĐƚƵƌĞƐ͕ƌĞƐƉĞĐƟǀĞůǇ͘ ƐŽŶĞĐĂŶŽďƐĞƌǀĞ͕ĂƌĞƋƵŝƌĞŵĞŶƚŽĨϮƐƉĂĐĞƐƉĞƌϭ͕ϬϬϬƐƋŌ ;ŽƌŽŶĞƐƉĂĐĞĨŽƌĞǀĞƌǇϱϬϬƐƋŌͿʹĂĐŽŵŵŽŶƉĂƌŬŝŶŐƌĞƋƵŝƌĞŵĞŶƚ ĨŽƌĐŽŵŵĞƌĐŝĂůĚĞǀĞůŽƉŵĞŶƚŝŶDĂůĂǇƐŝĂʹŝŵƉůŝĞƐƚŚĂƚƐƉĂĐĞƐ ĚĞǀŽƚĞĚƚŽƉĂƌŬŝŶŐĂƌĞĂůŵŽƐƚĞƋƵŝǀĂůĞŶƚƚŽ͕ŽƌϳϬйŽĨƚŚĞƵƐĞĂďůĞ ďƵŝůĚŝŶŐƐƉĂĐĞ͘/ĨϰƉĂƌŬŝŶŐƐƉĂĐĞƐĂƌĞƌĞƋƵŝƌĞĚĨŽƌĞǀĞƌǇϭ͕ϬϬϬƐƋ Ō͕ŵŽƌĞƐƉĂĐĞƐĂƌĞĂĐƚƵĂůůǇĐŽŵŵŝƩĞĚƚŽƉĂƌŬŝŶŐƚŚĂŶƚŽƵƐĞĂďůĞ ďƵŝůĚŝŶŐƐƉĂĐĞ͘ dŚŝƐƐŚŽǁƐƚŚĂƚƉĂƌŬŝŶŐƌĞƋƵŝƌĞŵĞŶƚƐƐŚŽƵůĚŶŽƚďĞŵĂŶĚĂƚĞĚ ũƵƐƚďĂƐĞĚŽŶƉƌŽƉĞƌƚǇƚǇƉĞƐ͕ďƵƚƚŽďĞƐƵƉƉůŝĞĚŝŶůŝŶĞǁŝƚŚ ƚŚĞƉĂƌŬŝŶŐĚĞŵĂŶĚƐďǇƚĂŬŝŶŐŝŶƚŽĐŽŶƐŝĚĞƌĂƟŽŶƚŚĞůŽĐĂƟŽŶ͕ ƐƵƌƌŽƵŶĚŝŶŐůĂŶĚƵƐĞ͕ƉŽƉƵůĂƟŽŶĚĞŶƐŝƚǇ͕ĂǀĂŝůĂďŝůŝƚǇŽĨƉƵďůŝĐ Figure 2: Land use balance corresponding with various parking requirements. ƚƌĂŶƐƉŽƌƚĂƟŽŶƐǇƐƚĞŵĂŶĚŶĞŝŐŚďŽƵƌŚŽŽĚƉĂƌŬŝŶŐĨĂĐŝůŝƟĞƐ͕ ďƵŝůĚŝŶŐ͛ƐŽĐĐƵƉĂŶĐǇƌĂƚĞĞƚĐ͘ KĨĐŽƵƌƐĞ͕ƚŚĞƌĞĂƌĞǁĂǇƐŽĨŵĞĞƟŶŐƉĂƌŬŝŶŐƌĞƋƵŝƌĞŵĞŶƚƐǁŝƚŚŽƵƚŝŵƉĂĐƟŶŐƚŚĞďƵŝůƚĞŶǀŝƌŽŶŵĞŶƚ͕ƐƵĐŚ ĂƐƚŚƌŽƵŐŚƵŶĚĞƌŐƌŽƵŶĚĨĂĐŝůŝƟĞƐ͕ďƵƚƚŚŝƐŵĞƚŚŽĚŝƐƉĂƌƟĐƵůĂƌůǇĐŽƐƚůǇĂŶĚ͕ƚŚƵƐ͕ŽŶůǇĨĞĂƐŝďůĞƚŽďĞĂƉƉůŝĞĚĨŽƌ ůĂƌŐĞͲƐĐĂůĞƉƌŽũĞĐƚƐ͘DŽƌĞŽǀĞƌ͕ĚƵĞƚŽƚŚĞĂĚĚŝƟŽŶĂůĞǆƉĞŶƐĞƐŽĐĐƵƌĞĂƌůǇĚƵƌŝŶŐƉƌŽũĞĐƚĚĞǀĞůŽƉŵĞŶƚ͕ƐƵĐŚĂƐ ŝŶĐƌĞĂƐĞĚůĂŶĚĂĐƋƵŝƐŝƟŽŶ͕ƉƌĞƉĂƌĂƟŽŶĐŽƐƚƐ͕ĂŶĚĐŽŶƐƚƌƵĐƟŽŶĐŽƐƚƐ͕ƉĂƌŬŝŶŐĨĂĐŝůŝƚǇĞǆƉĞŶƐĞƐƚĞŶĚƚŽŝŶĐƵƌŚŝŐŚĞƌ ĐŽŶƐƚƌƵĐƟŽŶĮŶĂŶĐŝŶŐĐŽƐƚƐƚŚĂŶĞǆƉĞŶƐĞƐŝŶĐƵƌƌĞĚůĂƚĞƌŝŶƚŚĞĚĞǀĞůŽƉŵĞŶƚƉƌŽĐĞƐƐ͘ /ŶƚĞƌŵƐŽĨĂĞƐƚŚĞƟĐƐ͕ƐƵƌĨĂĐĞƉĂƌŬŝŶŐŝƐďŽƌŝŶŐ͕ƉƌĞĚŝĐƚĂďůĞ͕ĂŶĚĐĂƵƐŝŶŐĚŝƐƌƵƉƟŽŶƚŽƚŚĞƐĞŶƐĞŽĨĚĞƉƚŚ ĂŶĚƉĞƌƐƉĞĐƟǀĞƚŚĂƚŵĂŬĞƐĂŶƵƌďĂŶĂƌĞĂǀŝƐƵĂůůǇĐŽŵƉĞůůŝŶŐ͘tŚĞƌĞǀĞƌƐƵƌĨĂĐĞƉĂƌŬŝŶŐůŽƚƐĂƌĞĐŽŵŵŽŶ͕ƵƌďĂŶ ĂƌĞĂƐďĞĐŽŵĞĐŽŶƐŝĚĞƌĂďůǇĨƌĂŐŵĞŶƚĞĚĂŶĚĚŝƐĐŽŶŶĞĐƚĞĚ͘ǀĞŶŝĨŝƚŝƐĚƌĞƐƐĞĚƵƉŽƌŚŝĚĚĞŶʹǁŚĞŶŝƚŝƐƉůĂĐĞĚ ƵŶĚĞƌŐƌŽƵŶĚ͕ŽƌŝŶĂƐƚƌƵĐƚƵƌĞƚŚĂƚŚĂƐƌĞƚĂŝůƵƐĞƐĂƚƚŚĞƐƚƌĞĞƚůĞǀĞůʹƐƵĐŚŽīͲƐƚƌĞĞƚƉĂƌŬŝŶŐĐĂŶƐƟůůĚĞŐƌĂĚĞƚŚĞ ƋƵĂůŝƚǇŽĨƚŚĞƵƌďĂŶĞŶǀŝƌŽŶŵĞŶƚ͘ tŝƚŚƚŚĞŝŶĐƌĞĂƐŝŶŐDWZ͕ůĂƌŐĞƌůĂŶĚƐŝǌĞŝƐŶĞĞĚĞĚƚŽĨƵůĮůƚŚĞƉĂƌŬŝŶŐƌĞƋƵŝƌĞŵĞŶƚ͕ƚǇƉŝĐĂůůǇĞƋƵĂůƚŽŽƌ ĞǀĞŶĞǆĐĞĞĚƚŚĞůĂŶĚĚĞǀŽƚĞĚƚŽƚŚĞďƵŝůĚŝŶŐƐŝƚƐĞƌǀĞƐ͘'ŝǀĞŶƚŚĂƚĐŽŵƉĂĐƚĂŶĚǁĞůůͲĐŽŶŶĞĐƚĞĚĚĞǀĞůŽƉŵĞŶƚ ƉĂƩĞƌŶƐĂƌĞĐĞŶƚƌĂůƚŽŵĂŶǇŵŽĚĞƌŶƵƌďĂŶƉŽůŝĐǇŐŽĂůƐ;Ğ͘Ő͕͘ůŝǀĞĂďŝůŝƚǇĂŶĚƐƵƐƚĂŝŶĂďŝůŝƚǇͿ͖ŝƚŝƐŽĨŝŵƉŽƌƚĂŶƚĨŽƌ ƉŽůŝĐǇŵĂŬĞƌƐƚŽĂƐƐĞƐƐƚŚĞŝƌƉĂƌŬŝŶŐƉŽůŝĐŝĞƐǁŝƚŚƚŚĞĂďŽǀĞĮŶĚŝŶŐƐŝŶŵŝŶĚ͕ĂŶĚƚŽĐŽŶƐŝĚĞƌǁŚĂƚƚŚŽƐĞƉŽůŝĐŝĞƐ ŵĞĂŶĨŽƌƚŚĞĨƵƚƵƌĞƵƌďĂŶĨŽƌŵ͘ 34 Building & Investment | www.b-i.biz

Building & Investment (Nov- Dec 2018) November - December 2018 | Page 36