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KL continues to add skyscrapers even as doubts grow over demand

September 07, 2024

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The Straits Times

Construction driven by desire to project national strength, investors chasing profits

KL continues to add skyscrapers even as doubts grow over demand

A quarter-century after the Petronas Twin Towers became the world's tallest buildings and reshaped Kuala Lumpur's skyline, Malaysia's capital is continuing to add new skyscrapers despite growing doubts over the level of demand for property.

Kuala Lumpur already has more super-tall buildings than all but seven cities, and recently it has added another the 678.9m-tall Merdeka 118, which will fully open to the public later in 2024. A long spire helped it edge out Shanghai Tower to become the second-tallest building in the world after Dubai's Burj Khalifa.

In a city where many offices and homes sit empty, there are growing questions about the proliferation of skyscrapers in the Malaysian capital. But such construction is likely to continue, driven by a preference by many investors to chase returns in real estate, and developers and political leaders seeking to project national strength through building tall.

"If the money rules, this is what happens," said architect Mustapha Kamal Zulkarnain, who focuses on resilient cities. "We're building as if nobody's checking on the demand." Malaysia's Prime Minister Anwar Ibrahim has taken notice. In a speech in August, he called for more focus on affordable housing, shops and small restaurants.

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