Kuala Lumpur – one of the five cities to watch
Kuala Lumpur has emerged on Knight Frank’s Watch List as part of its Global City 2016 report.
The Watch List lists cities with the potential to become a Global City in the future. Kuala Lumpur is one of the five cities to watch, with infrastructure investment a key to the city’s future growth.
“Future improvements in urban mobility such as the Mass Rapid Transit line in Malaysia is expected to revitalise the economic, business and social activities within the city centre while countering the pace of office decentralisation. There will be renewed interest in the city – to live and work and also as a destination for entertainment and tourism,” says Sarkunan Subramaniam, Managing Director, Knight Frank Malaysia.
“The impending entry of upscale hotel brands such as Four Seasons, Fairmont, Kempinski and Jumeirah in the city will further catapult Malaysia into the global tourism market,” he adds.
According to Knight Frank, the level of infrastructure in a market is a useful indicator as to the level of development while also a guide to the potential for catch-up.
Dubai, Bangkok, Nairobi and Moscow were also on the Watch List.
To stay on top of the latest real estate news, subscribe to Cityscape Magazine