ICT enterprises spurring demand for properties


  • Business
  • Monday, 06 Nov 2006

Lao Chok Keang with the newly completed CBD Perdana project

THE growing stature of Cyberjaya as the melting pot for information and communications technology (ICT) enterprises will serve to attract more foreign direct investments to the country's shores. This will spur greater interest in properties there.  

According to Setia Haruman Sdn Bhd chief operating officer Lao Chok Keang, much interest has been generated in Cyberjaya property recently with strong demand for more office space and residences.  

“Although the pace of development in Cyberjaya slowed down in the last three to four years following the dot.com bubble burst, we can see that the momentum is coming back and things are moving again,” Lao said. 

The active promotion of Cyberjaya to the rest of the world has helped in the growth of support services and outsourcing (SSO) businesses and vendors’ development programme. 

Initiatives by Multimedia Development Corp (MDec), which is tasked with promoting the Multimedia Super Corridor (MSC) to the global business community, are bearing fruit. 

MDec will soon be opening its latest office in Bangalore, India, which is home to many ICT companies.  

“Several major SSO companies in India have shown great interest in locating to Cyberjaya and this will translate into greater demand for commercial properties and spur demand for residential properties as well,” Lao said.  

With the working population expected to double to 30,000 in the next three years, demand for houses and commercial facilities would also increase accordingly. 

Besides the need for enterprise space, offices for the international SSO companies are also in vogue.  

To-date, 1,621 companies have been granted MSC status, of which 355 are located in Cyberjaya.  

Some of the established companies such as Shell, EDS, DHL and HSBC have also expanded their office spaces in Cyberjaya this year. More companies are expected to set up operations there including ACS, Dell Computer, Telenor, TRW, Unisys and Monster Inc.  

Most of the companies in Cyberjaya are focused on multimedia and communications products, solutions, services and research and development.  

The ongoing office developments such as the CBD Perdana signature retail-cum-corporate office suites, targeted to be completed in February next year, are set to meet the expected demand for commercial space in the near term.  

“Being the very first retail-cum-corporate offices within the central business district of Cyberjaya, it boasts a smart business environment for those who appreciate the adoption of information technology in their businesses,” Lao said.  

Located on 4.5 acres, the project comprises four blocks of 32 signature retail and 92 corporate office suites. The retail suites will have built-up from 1,526 sq ft to 1,760 sq ft while the office suites are from 1,743 sq ft to 2,760 sq ft.  

With average price from RM611 per sq ft, the retail suites have price tags of between RM933,096 and RM1.56mil. 

Meanwhile, the corporate office suites will be priced from RM405,960 to RM 979,399.  

Some 90% of the first block of 34 strata shop offices have been sold for total sales of RM16mil. Priced from RM420 per sq ft, the project will yield a total gross development value of RM84mil. 

The other three blocks will be sold en-bloc to corporate purchasers as there have been many interested parties requiring big corporate space. 

With net usable built up of 44,000 sq ft to 71,000 sq ft, the office blocks are expected to be completed in February next year. Another commercial development is Neon Perdana featuring 33 shop houses that have all been sold.  

Setia Haruman assistant general manager (sales and marketing) Liew Yeon Keong said efforts were under way to cooperate with the other sub developers of commercial property to standardise the rentals and tenancy mix of the commercial thoroughfare to create Cyberjaya’s own Bintang Walk. 

“We want to bring in a good mix of famous retail brands, including alfresco dining, to create a more lively ambience for the people,” Liew said. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Across the site