COMMENTARY ON BUDGET 2024 Kuala Lumpur, 13th October 2023Budget 2024 as expected, focused on ways to ease the financial challenges of the Rakyat and to stimulate economic growth to achieve a GDP growth of 4% - 5% next year. Proposals for improvements and developments were presented in broad brush strokes lacking details as to how, when and where, but we were encouraged by their general positive...
THE Malaysian hotel industry, which was one of the hardest hit sectors during the pandemic, looks set to finally begin its much-needed path to recovery. Malaysian Association of Hotels (MAH) president Datuk N Subramaniam says the resumption of economic activities, relaxation of Covid-related restrictions and recent reopening of international borders will pave the way for the local hotel sector’s recovery.
More than 3,000 new hotel rooms and hotel suites are set to open in Kuala Lumpur this year, according to the latest Kuala Lumpur Hotel Market Outlook & Prospects 2022 report by CBRE|WTW’s global joint venture partner, CBRE Asia Pacific. Among them are the 232-room Park Hyatt Kuala Lumpur at PNB 118, the 544-room Conrad Kuala Lumpur (the former MAS headquarters on Jalan Sultan Ismail), the 535-room Parkroyal Collection Kuala Lumpur (and Pan Pacific Serviced Suites Kuala Lumpur), the 160-room Kempinski Hotel Kuala Lumpur, the 252-room Amari Kuala Lumpur, and the 690-room Fairmont Kuala Lumpur.
Kuala Lumpur’s (KL) strong economic growth and the government’s robust plan to reopen its borders to international travel and revitalise its tourism industry, coupled with improving fundamentals and notable infrastructure developments in the pipeline, make KL’s hotel market a prime candidate for investment in 2022 and beyond.
Resorts in Langkawi, Kedah, and other popular Malaysian islands will benefit greatly from a tourism recovery this year, says CBRE|WTW chairman Foo Gee Jen. According to him, business travel and leisure expenditures on resorts in Langkawi, among other getaway islands, will see a gradual increase in occupants as many have grown to worry less about the statistics of the Covid-19 numbers, which initially created a mental block.
Coupled with Malaysia’s resilient domestic tourism market and the country’s growing popularity as a halal tourism destination, Kuala Lumpur is poised to reap the benefits of the country’s reopening to international travel, said CBRE in a statement introducing the recently released insights of the Kuala Lumpur Hotel Market Outlook & Prospects by CBRE Asia Pacific — a global joint venture partner of CBRE|WTW.
Perunding hartanah, CBRE Asia Pacific menjangkakan pemulihan pelancongan Malaysia pada tahun ini akan didorong sebahagian besarnya oleh kedatangan semula pelancong Singapura berikutan pembukaan sempadan antara kedua -dua negara.
Coupled with Malaysia’s resilient domestic tourism market and the country’s growing popularity as a halal tourism destination, Kuala Lumpur is poised to reap the benefits of the country’s reopening to international travel, said CBRE in a statement introducing the recently released insights of the Kuala Lumpur Hotel Market Outlook & Prospects by CBRE Asia Pacific — a global joint venture partner of CBRE|WTW.
CBRE|WTW on Thursday (March 31) announced a change in the names of its business entities and the appointment of new leadership. According to a press statement, the three business lines of CBRE|WTW will be renamed as CBRE WTW Valuation & Advisory Sdn Bhd (formerly known as C H Williams Talhar & Wong Sdn Bhd), CBRE WTW Real Estate Sdn Bhd (formerly known as WTW Real Estate Sdn Bhd), and CBRE WTW Property Services Sdn Bhd (formerly known as WTW Property Services Sdn Bhd).
WTW Real Estate Sdn Bhd (CBRE|WTW) menawarkan bangunan ibu pejabat Telekom Malaysia Bhd (TM), Menara TM dan menara korporatnya untuk dijual melalui penyataan minat (EOI) dan pelaksanaan tender.
