Cyberjaya on higher profile


  • Business
  • Monday, 06 Nov 2006

CYBERJAYA is shaping up well as a world-class intelligent city for international information and communications technology (ICT) enterprises and a lively residential and commercial address in the south of the Klang Valley. 

The higher profile gained by Cyberjaya internationally has prompted more ICT companies, including those from India, to join the more than 360 foreign and local companies in making the Cyberjaya Flagship Zone (CFZ) their business address. 

According to a 2005 AT Kearney report, Malaysia has been ranked third in terms of its competitiveness in promoting ICT businesses in Cyberjaya. The strong global brand position has received positive reviews overseas.  

Located in the heart of the Multimedia Super Corridor (MSC), development of the 17,500-acre self-contained city will take another 10 years since construction took off in 1999.  

A brainchild of former Prime Minister Tun Dr Mahathir Mohamad, the project has been given the thumbs up by the present administration. 

In his 2007 budget speech, Prime Minister Datuk Seri Abdullah Ahmad Badawi said Cyberjaya would continue to be developed into a major national ICT hub. 

“Supporting infrastructure and social amenities will be provided, including affordable homes, health clinics, international schools and recreational activities to enhance the quality of life in Cyberjaya,” Abdullah said.  

While the progress of development has been commendable, the master developer of the 7,100-acre CFZ, Setia Haruman Sdn Bhd is not resting on its laurels. 

The company has lined up more new exciting plans to take Cyberjaya into another stage of progress and to further raise its profile in the international arena.  

The infrastructure access to Cyberjaya will be further enhanced with the proposed dedicated Kuala Lumpur-Putrajaya highway, which is targeted for completion by the end of next year.  

Presently, the road network comprises the North-South Central Link Expressway and State Road B15.  

The CFZ is maturing into a robust ICT hub while the commercial and residential precincts are also coming up well.  

“Being a growing city with much potential, the development of Cyberjaya has moved back to high gear after a slowdown during the last three to four years,” Setia Haruman chief operating officer Lao Chok Keang said.  

So far, 30 buildings offering a total of 2.57 million sq ft of enterprise space have been completed, in which more than 95% are occupied. Over the next five to 10 years, another 22 million sq ft of enterprise space will be developed under phase one. 

Based on the current valuation of about RM500 per sq ft, the completed enterprise office space has a total gross development value of some RM1.3bil. 

On land sale to other sub-developers for development purposes, Lao said 700 acres of enterprise land and 300 acres of mixed use and institutional land had been sold for RM1.08bil.  

The rental income from leased buildings amounts to some RM43mil a year. 

The company has completed 2,400 housing units to-date. Sales of houses have reached RM700mil to-date and in the next two years, Setia Haruman expects housing sales to be around RM900mil.  

“Under the revised layout plan for Cyberjaya, about 80% of the land in phase 2 has been earmarked for residential development. We see the need to build more affordable houses to meet needs of the growing population,” Lao said.  

Phase 2, which will take off next year, will see more residential units being built, especially affordable housing to meet needs of the fast growing population in Cyberjaya.  

Being the master developer of CFZ, which is the nucleus of the Government's national ICT initiatives, Setia Haruman's main focus is to develop the basic infrastructure servicing the land parcels that are for sale to international ICT companies.  

The company also contributes towards achieving the national agenda of attracting foreign direct investments (FDI) by working with the Multimedia Development Corp (MDec) to attract more ICT companies to Cyberjaya.  

“We also encourage sub developers to purchase land and invest in the building of office space to meet the rental demand of MSC-status companies. There are now four sub developers who buy the enterprise land for development and for leasing to the enterprises,” Lao said.  

Under the CFZ master plan, the development has been divided into two phases, with phase one comprising 3,546 acres and phase two 3,461 acres. 

Lao said some 26% of the CFZ would comprise enterprise space for ICT companies, 9% would be commercial property, 8% for mixed development and 57% would involve residential development.  

Upon completion in 10 years, there will be 42.4 million sq ft of enterprise space, 337 acres of commercial development and 42,000 houses worth a total gross development value of more than RM10bil.  

There are 1,731 acres of net saleable land area available for sale under phase one while phase two will have 2,035 acres. 


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