2025年下半年房地产亮点：马来西亚工业、数据中心、办公、零售、酒店及住宅市场综合分析

2nd Half 2025: A comprehensive analysis of Malaysia’s industrial, data centre,office, retail, hospitality and residential markets MALAYSIANECONOMIC OVERVIEW withSwitzerland,Norway,Iceland and Liechtenstein,followed by the Malaysia–Korea Free Trade Agreement(MKFTA) in October 2025. Malaysia is also upgradingexisting agreements, including the Malaysia–New ZealandFree Trade Agreement (MNZFTA) and has resumed freetrade negotiations with the European Union, which hadbeen on hold since 2012. Collectively, these agreementsare intended to diversify Malaysia’s export markets andstrengthen bilateral trade and investment ties. GENERAL ECONOMIC INDICATORS 3Q2025(P)5.2%(y-o-y: ↓)2Q2025(p):4.4%3Q2024(p):5.4%2025(f):4.0% ~ 4.8%Gross DomesticProduct (GDP) 3Q20253.0%(y-o-y: ↓)2Q2025:3.0%3Q2024:3.2%2025(f):3.0% ~ 3.1%UnemploymentRate 3Q20251.3%(y-o-y: ↓)2Q2025:1.3%3Q2024:1.9%2025(f):1.0% ~ 2.0%HeadlineInflation Bank Negara Malaysia maintains the Overnight PolicyRateat 2.75%.While the effects of US higher tariffscontinueto weigh on global growth,ongoing tradenegotiationshave,to some extent,reduced globaluncertainty and supported continued expansion in theworldeconomy.Malaysia’s economic performance inthe third quarter of 2025 recorded better-than-expectedgrowth,underpinned by sustained domestic demand,resilientE&E exports and a recovery in commodityproduction. Looking ahead, resilient domestic demand isexpected to continue supporting economic growth into2026. In addition, the expansion of investment activityis anticipated to be driven by catalytic initiatives undernational master plans, the 13th Malaysia Plan (RMK13)and measures introduced in Budget 2026. TOTAL EXTERNAL TRADE RM 410.4 billion(y-o-y: 6.7%) ↑2Q2025: RM 381.7 billion(y-o-y: 3.3%) ↑3Q2024: RM 384.2 billion3Q2025(p): 3Q2025(p): RM 359.7 billion(y-o-y: 0.4%) ↑2Q2025: RM 367.3 billion(y-o-y: 9.0%) ↑3Q2024: RM 358.2 billion Malaysia’s socio-economic roadmap for 2026–2030, the13th Malaysia Plan, was launched in July 2025 under thetheme“Melakar Semula Pembangunan”or“ReshapingDevelopment.” Anchored on two core pillars, the first,“Raise the Ceiling,” seeks to position Malaysia as a leadingeconomyin the Asian region by enhancing economiccomplexitythrough artificial intelligence(AI),digitaltechnologies,high-valuemanufacturing,thegreeneconomy and global services. The second pillar, “Raisethe Floor,” focuses on improving the quality of life andincome opportunities for Malaysians through healthcare,education, housing and enhanced social protection. The13th Malaysia Plan targets moderate GDP growth of 4.5%to5.5%and requires an investment of approximatelyRM 611 billion to ensure its success. TOP 5 SOURCESOF FOREIGNINVESTMENT,9M2025 TOTAL APPROVEDPRIVATE INVESTMENTS KEY TRADINGPARTNERS,9M2025 CONTENTS Domestic Investment9M2025RM 134.4 billion(y-o-y: -10.2%) ↓ ChinaExports:RM 136.3 billionImports:RM 249.4 billion SingaporeRM 52.7 billion Market HighlightsIndustrial MarketData Centre MarketOffice MarketRetail MarketHospitality MarketResidential Market SingaporeExports:RM 187.0 billionImports:RM 114.9 billion 9M2024RM 149.7 billion2024(r)RM 213.1 billion ChinaRM 35.8 billion United StatesExports:RM 166.4 billionImports:RM 104.5 billion United StatesRM 11.3 billion Budget 2026, themed “The Rakyat’s Budget,” focuses onfiscal discipline while maintaining an expansionary stanceto sustain economic growth, in alignment with the 13thMalaysia Plan. With a total allocation of RM 470 billion,thebudget targets a fiscal deficit of 3.5%.Significantfunding has been directed toward high-growth, high-value(HGHV) and strategic sectors, including semiconductors,AI, green energy and the broader digital economy. Thebudget also introduces a carbon tax for the iron, steel andenergy sectors, extension of stamp duty exemptions andexpansion of targeted subsidies and social aid to promoteinclusive and sustainable economic progress. Foreign Investment9M2025RM 150.8 billion(y-o-y: 47.5%) ↑ TaiwanExports:RM 62.0 billionImports:RM 110.8 billion British Virgin Islands (BVI)RM 6.6 billion JapanExports:RM 57.2 billionImports:RM 48.6 billion JapanRM 4.8 billion 9M2024RM 102.2 billion2024(r)RM 171.3 billion Sources: Budget 2025 / Bank Negara Malaysia / Department of Statistic Malaysia (DOSM) /Malaysian Investment Development Authority (MIDA) The concluded 47th ASEAN Summit has reinforced Malaysia’s trade and investment landscape. The upgraded ASEAN Tradein Goods Agreement (ATIGA) and the ASEAN–China Free Trade Area 3.0 (ACFTA 3.0) strengthen economic cooperation ingoods, digital services and green technologies, enhancing Malaysia’s standing as a regional centre for manufacturing andsustainable industries. In addition, the concluded negotiations on the Digital Economy Framework Agreement, the world’sfirst region-wide digital economy agreement, together with accelerated progress on the ASEAN Power Grid, is expected todrive growth in digital trade, cross-border services and renewable e