{"id":887706,"date":"2026-09-11T04:20:12","date_gmt":"2026-09-11T04:20:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/887706\/"},"modified":"2026-09-11T04:20:12","modified_gmt":"2026-09-11T04:20:12","slug":"foreign-businesses-reshape-kuala-lumpurs-rental-market","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/887706\/","title":{"rendered":"Foreign businesses reshape Kuala Lumpur\u2019s rental market"},"content":{"rendered":"

In prestigious areas of Kuala Lumpur, Malaysia, the influx of foreign companies is boosting demand for commercial premises and affecting the retail landscape. In Solaris Mont Kiara, known as \u201cLittle Korea\u201d because of its large Korean community, restaurants, premium grocery stores, beauty clinics and hair salons owned by Korean entrepreneurs operate, Channel NewsAsia reports<\/a>.<\/p>\n

Korean business in Malaysia<\/p>\n

Before the COVID-19 pandemic, more than 25,000 Koreans lived in Malaysia, including members of the business community, their families and students. After the pandemic, their number fell to about 15,000, but the Korean community is gradually recovering.<\/p>\n

Han Yong Jae, commercial attach\u00e9 at the Embassy of the Republic of Korea in Malaysia, said the popularity of K-pop and Korean dramas among Malaysians helps attract Korean businesses. According to him, companies from Korea also seek to bring, among other things, halal food products and cosmetics to the Malaysian market. They view success in Malaysia as an opportunity for further expansion into other ASEAN markets.<\/p>\n

More current news is available on the UA.News Telegram channel Telegram<\/a>.<\/p>\n

Pressure on local tenants<\/p>\n

Ken Wong, owner of No21 Salon, who has operated in Solaris Mont Kiara for 15 years, spoke about intensified competition for well-located retail premises. According to him, new wealthy foreign companies, including those from China, are willing to pay significantly more in rent than the usual rates. He cited an example in which a new tenant offers 15,000 Malaysian ringgit instead of 10,000.<\/p>\n

William Ng, president of the Small and Medium Enterprises Association of Malaysia, noted that such offers raise property owners\u2019 expectations regarding rent. This affects ground-floor premises most severely, as they are valued for visibility and pedestrian traffic. Some Malaysian tenants are moving to upper-floor premises or leaving locations because of the high costs.<\/p>\n

At the same time, Han Yong Jae suggested that increased competition could encourage businesses to expand beyond the capital, creating opportunities for investment and growth in other Malaysian states.<\/p>\n

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