NEW STRAITS TIMES. 9TH FEBRUARY: A strong white-collar technology sector will push up housing demand and prices in Kuala Lumpur, Putrajaya, and Johor in the long run, says Juwai IQI co-founder and group chief executive officer Kashif Ansari.
Kashif feels that the most significant aspect of the expansion of Malaysia’s technology industry is the talent pool.
“For workers, these are very well-paid jobs. Eight of our top ten emerging jobs in the country require digital technology skills. This includes fields like data analytics, data science, the internet of things, digital transformation, and cybersecurity.
“Today, about eight per cent of employment is in the information and communications technology sector, according to the Department of Statistics. There will be at least 500,000 new digital economy jobs in Malaysia by 2025,” he said.
In 2021, the digital economy accounted for about 23 per cent of the country’s gross domestic product (GDP).
According to Kashif, by 2025, one in every four Ringgit generated in Malaysia will be in the digital economy.
Malaysia is a rapidly emerging digital technology and high-tech industrial hub.
According to Gartner, global investment in technology is predicted to rise 5.1 per cent in 2023, and Malaysia will witness a similar increase, Kashif said.
He said technology investment in Malaysia would increase despite inflation because it improves productivity.
“The projected growth in tech investment will have an impact on real estate. We expect new demand to manifest in the manufacturing, logistics, and alternative commercial property sectors as existing users expand and new users enter the market,” he said.