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Land & General Berhad is adapting to an oversupply of office space by converting its underperforming office building in Putrajaya into serviced apartments, investing about RM45 million in the process.
This reflects a broader strategy of adaptive reuse—repurposing assets to match current demand, maximise land value, and generate more sustainable long-term returns.
Ya makes sense lah. Nowadays office space really too banyak, especially in places like Putrajaya where demand not so strong. Convert to serviced apartments actually quite smart move, at least can tap into people looking for short-term stay or even gov-related travel.
Adaptive reuse like this is quite important now, cannot just stick to original plan and hope market recover. Better to pivot early, maximise the asset value and keep cash flow coming. RM45 mil investment not small, but if done right, can pay off in long run