EMKAY GROUP expects half of its recently launched shop-office development, Radius Business Park, in Cyberjaya to be taken up by the end of the year, says the property developr’s chief operating officer Mazrita Mazlan.
“Its location alone will prove to be an effective selling point in enticing investors. With a pre-launch take up rate of 25% over the last one month, we expect sales to be promising after this launch,” she said.
Radius Business Park is being constructed on a 5.98 acre site located within the MKN Techzone mixed development area which already houses offices for the Public Service Department and the Malaysian Administrative Modernisation and Management Planning Unit (Mampu).
The project, with a gross development value of RM160mil, will consist of 120 strata units in eight blocks of shop-office buildings. The development will have a net floor area of 262,382sq ft with sizes of units ranging from 1,241sq ft to 8,204sq ft.
The business park is expected to be completed by mid-2017.
MKN Embassy Development Sdn Bhd general manager Mohd Roslan Ali noted that the development will feature five enbloc four-storey corner units which have dedicated private lifts and are expected to be attractive to organisations such as banks, government service providers, showrooms and even budget hotel operators.
MKN Embassy Development is a subsidiary of Emkay Group that is undertaking the construction of the project.
Mazrita said there has been a good mix of interest from buyers and investors for the project.
Prices of the units will range from RM1mil to RM11mil per unit, or about RM630psf.
Every ground floor unit will enjoy dual frontage with lush landscaped boulevards, which will provide unit owners with a garden environment.
The project will come with 604 sub-basement parking bays and 161 ground-level parking lots.
To-date, the Emkay Group has developed more than RM2bil worth of projects in Cyberjaya, including 1.9mil sq ft of office space and almost 1,000 residential units.
“We have a landbank of about 200acres in Cyberjaya alone and we have only utilised 30% so far. In the pipeline, we have some RM3.8bil worth of projects that will be developed in Cyberjaya over the next three years,” Mazrita said.
The development of Cyberjaya will be supported by the projected increase in population in the area of more than 100,000 by 2016.
The launch was also attended by Emkay chairman Tan Sri Mustapha Kamal in conjunction with the group’s Aidilfitri celebration.