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Monday, August 18, 2008

Setia Haruman expects high take-up for Cyberjaya project

SETIA Haruman Sdn Bhd is optimistic its RM200 million CBD Perdana 2 project in Cyberjaya will report a high take-up rate, amid current market uncertainties.

The two-year project, comprising signature retail-cum-corporate office suites, is earmarked for launching earliest by September this year.

The company, which the Emkay Group and the UEM Group hold a 75 per cent and 25 per cent stake respectively, is also launching 55 units of semi-detached houses priced more than RM800,000 per unit in December.

MASTER DEVELOPER: Setia Haruman chief operating officer Lao Chok Keang (left) and Balasundram looking at a model of the development projects for Cyberjaya

Setia Haruman corporate finance general manager Balasundram R. said Setia Haruman is confident of achieving positive sales from the two projects as they offer unique designs and features.

CBD Perdana 2 boasts a smart business environment and is suitable for companies wanting to adopt information technology in their businesses.

The suites will add 500,000 sq ft of office space to the current 3.7 million sq ft completed office space in the digital city by 2010, Balasundram said.

As the master developer of the 2,800ha Cyberjaya, Setia Haruman had previously developed over 200 high-end bungalow lots, 42 units of superlink homes fronting the lake and high-end condominiums dubbed "D'Melor".

The 120-unit D'Melor has been fully sold and tenanted, while more than 80 per cent of the bungalow lots have been taken up.

Balasundram said Cyberjaya's population, which stands at 35,000, is projected to grow to 60,000 by 2010, hence the need to build more housing.

"We want to ensure Cyberjaya has good ingredients to grow with the right product mix as international names are coming in," he said.

Balasundram said there has been interest from foreign parties looking to set up data centres in Cyberjaya, which will be the main activities there besides research and development centres.

Balasundram said 20 per cent of Cyberjaya has been developed year-to-date. 70 per cent of land in Cyberjaya is available for sale, while 10 per cent has been reserved for new projects.

By New Straits Times (by Sharen Kaur)

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