"It is estimated that 5.5 million sq ft of office space will be completed each year until 2021, far exceeding the average annual demand of 2.3 million sq ft per annum over the past three years."
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The real estate firm expects lower activity in leasing and investment of commercial office space as both local and multinational companies delay or put on hold their real estate decisions.
Knight Frank Malaysia managing director Sarkunan Subramaniam: It may be timely to waive property taxes such as quit rent and assessment for the second half of 2020.
This will help reduce losses of property sellers who are facing a demand from buyers to reduce prices in light of the economic downturn and the impact of the current Covid-19 pandemic, said MIEA.
The inspiring light spectacles are achieved by turning on the lights at selected rooms and floors in the hotels after sundown.
Sunway Group said it has been in close contact with the MOH and UMMC to help decant their COVID-19 cases so that government facilities can focus on managing confirmed COVID-19 cases.
MIPFM president Adzman Shah Mohd Ariffin: Most property management businesses are in the SME category and are operating at competitive fees with slim margins, and some are already facing delayed payments from clients.
SCM Property Services Sdn Bhd general manager Paul Richard: We do understand that this is ‘unprecedented’ and that there is a lot of key learning that we can gather from this crisis. Hence, we look forward to a proper statutory law and standard operating procedures to be introduced and implemented in order to manage crisis situations in future.
Jason Oh: The home is the most cosy and personal workspace one can ever ask for especially when you’re living alone
SUB: As the world grapples with COVID-19, how can the many holed up in their rooms or houses ensure productivity, even if just only temporary?
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