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Monday, June 23, 2008

CRSC to unveil The Parc

CRSC Property Sdn Bhd plans to launch The Parc high-end office suites in Rampai Business Park in Kuala Lumpur in the next few months.

Located on 3.84 acres in Setapak Jaya, The Parc comprises two blocks of seven storey buildings with 161 strata-titled offices worth an estimated gross development value (GDV) of RM100mil.

The built-up of the office suites is between 1,500 sq ft and 3,000 sq ft and priced from RM300 per sq ft. It is targeted at young professionals including engineers, accountants, lawyers and quantity surveyors.

“A unique feature of the project is that every unit has its own private lift and exclusive access to the office from the basement car park,” senior project director Chia Kim Puin said in an interview with Starbiz.

Datuk Chia Kim Puin

The Parc also boasts of scenic park and lake views.

Chia said The Parc has a wide range of facilities including food and beverage outlets, a gymnasium and spa.

It will also be equipped with wifi and broadband facilities as well as guards and closed circuit televisions on all public areas and lift lobbies.

On CRSC's new projects, Chia said the company would focus on phase four of Rampai Business Park project, which was a joint venture with Kuala Lumpur City Hall.

Comprising 100 terrace factories and 400 medium-cost apartments, it has an estimated GDV of RM100mil.

CRSC was the project manager for phase three of Rampai Business Park, a joint venture between Pancaran Nilai (M) Sdn Bhd and DBKL.

Chia said CRSC would also partner with DBKL for a 90-acre mixed development, Jinjang Tambahan in the north of Kuala Lumpur that has an estimated GDV of RM1.5bil.

The project would keep the company busy over the next eight to 10 years.

Currently, the ratio of the company's projects between mixed development, commercial and industrial projects is 40:30:30.

Of its total landbank of 300 acres, 100 acres are in Kuala Lumpur.

In another joint venture, CRSC is partnering with Aman Resorts International to develop the six-star Belum Island Resort in Perak. Phase One of the 5,000 acre project will cost RM50mil.

The first phase of the development will kick off in the first quarter next year. The entire project will be completed in 20 years over four phases.

Phase One comprises 20 to 30 floating bungalow units on Tasik Temenggor. The proposed room rate for each bungalow will be at US$1,000 a night.

Meanwhile, CRSC plantation unit, Citarasa Murni Sdn Bhd has embarked on the Lancang Agriculture Project to cultivate organic fruits and vegetables.

Khazanah Holdings Bhd's subsidiary Malaysian Agrifood Corp Bhd will market the produce on a contractual basis for both the local and export markets.

“We also see potential in agro-tourism and hope to open our farms to the tourists,

“This venture will contribute about 20% to the group’s revenue in the next 10 years,” he said.

CRSC posted RM50mil in revenue for the financial year ended Dec 31, 2007.

By The Star (by Shannen Wong)

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