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KUALA LUMPUR (April 9): E-commerce businesses are impacting the property market, especially the office and warehouse sectors.
While the influence of e-commerce in Malaysia is still nothing to shout about, the growth of the sector will eventually create a strong demand for offices and warehouses to meet the demands of an online society.
CBRE India’s report “Online Retail: Driving Realty” published in 2014, revealed that the warehouse and office sectors were positively impacted -- especially the logistics, infrastructure and large office spaces.
E-commerce has had a presence in the subcontinent for more than 15 years but only saw significant growth in the past two years.
In Malaysia, retail sales generated by e-commerce is small – less than 5% of total retail sales, according to data from Deloitte Consulting Malaysia.
However, in anticipation of future growth in the sector, some companies such as Century Logistics and Tiong Nam are building multi-storey warehouses of up to one million sq ft, Deloitte revealed.
Property experts all agree that this is a growing segment that will play a significant role on how offices and warehouses will be utilised.
The growth of e-commerce will provide greater opportunities to property investors and landowners once the sector gains greater momentum and traction in Malaysia.
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Read the full story in the April 11 issue of City&Country, the property pullout of The Edge Malaysia business weekly. Subscribe here for your personal copy.
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