In Malaysia, high-rise apartments and office buildings typically have a lifespan of 50 to 60 years. As these structures age, they increasingly fail to meet modern building codes, energy efficiency standards, and safety regulations. With two-thirds of the country’s existing buildings expected to remain in use until 2050, the demand for refurbishment and modernization has become urgent. However, despite regulatory frameworks in place, bringing older buildings in line with current standards poses significant challenges. Poor maintenance compromises structural stability and reduces property value over time. Therefore, rejuvenating aging properties is essential, creating opportunities for growth and enhancing both residential and commercial assets, ultimately benefiting all stakeholders involved.

Carcosa Seri Negara along with the Sultan Abdul Samad Building, is slated for significant restoration to enhance their cultural and historical value. According to the Economic Outlook 2025 report by the Ministry of Finance (MOF), Khazanah Nasional Bhd has allocated RM600 million for these restoration efforts, aimed at reinforcing Kuala Lumpur’s position as a cultural and creative hub. Meanwhile, the George Town Heritage Habitat Seed Fund, which has set aside RM3 million for the upkeep of Category II heritage buildings, recently completed its sixth refurbishment project on a historic property along Lebuh King. These restoration initiatives highlight the crucial role of refurbishment in preserving the architectural heritage of historic buildings while ensuring their relevance for future generations.

Permodalan Nasional Bhd secured a RM1.26 billion Islamic financing facility from OCBC Bank to refurbish One Exchange Square office tower in London, aiming for net-zero carbon operations by 2026 through energy efficiency, electrification, and on-site energy generation. Meanwhile, AWC Bhd anticipates RM700 million revenue over a 10-year concession to provide building maintenance services for federal government buildings in southern Peninsular Malaysia and Sarawak, including RM555 million from the concession and RM145 million from a new contract for critical asset refurbishment. These investments highlight the focus on sustainable refurbishment and building maintenance for long-term asset value and operational efficiency.

The RE-FAB 2050: Building Refurbishment & Modernization conference by Trueventus aims to bring together key stakeholders in the real estate, construction, and design sectors to explore innovative strategies for revitalizing existing buildings through sustainable refurbishment, adaptive reuse, and modernization initiatives. The conference addresses the growing need to upgrade aging infrastructure, enhance building performance, and align with green building standards to improve energy efficiency, functionality, and aesthetics in both residential and commercial properties.