The current rent picture
Shah Alam factory and warehouse space is letting between RM1.09 and RM2.47 per square foot per month, with smaller units at the top of that range and the very large boxes at the bottom. Damansara Heights office space runs RM5.20 to RM9.00 per square foot, with the spread driven almost entirely by whether the space is fitted.
Why the office headline rate misleads
A RM9.00 psf fitted office and a RM6.00 psf bare office are not three ringgit apart. The bare space needs a fit-out, which you fund, and it needs reinstating at lease end, which you also fund. Over a three-year term those two costs frequently close the entire gap. Landlords offering fitted space at a premium are lending you the fit-out and charging interest through the rent.
Why industrial has held
Industrial rents have a floor that office does not: the tenant needs the power supply, the floor loading and the lorry access, and there is a finite amount of stock in the Klang Valley that has all three. Office space is more substitutable, so incentives deepen faster when demand softens.
What to check before you buy either
For industrial: the land-use category on the title, the approved power supply in amps, the floor loading and the clear ceiling height. For office: the strata car park allocation, the service charge trend over five years, and the age of the lifts and chillers, because those are the capex items that arrive without warning.
Exit liquidity
Industrial buyers are usually owner-occupiers with an operational reason to be in a specific district, which makes the buyer pool small but motivated. Office buyers are usually investors comparing your building against every other building, which makes the pool larger but more price-sensitive. Neither is better. They fail differently, and you should know which failure you are underwriting.
