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Wednesday, September 10, 2008

Cyberjaya office occupancy rate high

CYBERJAYA landowner Cyberview Sdn Bhd says that the average occupancy rate for offices in the MSC status area is at 94 per cent.

The demand for office space is so great that Cyberview will start work on SME Technopreneur Centre III a year ahead of schedule.

Cyberview had planned to start work on the third instalment of offices catered to small and medium enterprises in 2010.

Cyberview was set up by the government in 1996, with the Minister of Finance Inc owning 70 per cent and the remaining stakes held by different government agencies, which include the Multimedia Development Corporation (MDeC).

Between September 2007 and August 2008, the supply of office space in Cyberjaya had increased by another 1.05 million sq ft to 4.22 million sq ft.

Another additional 1.64 million sq ft of office space will be ready by the third quarter of 2009, bringing the total space for businesses in Cyberjaya to 5.86 million sq ft.

Cyberview managing director Redza Rafiq said interest in the intelligent city has also not waned, adding that MDeC is in talks with between five and six multinational corporations (MNCs) to set up base in the area. He did not elaborate.

MORE PROJECTS: MDeC is in talks with five to six multinational corporations to set up base in Cyberjaya, says Redza.

There are 474 companies located in Cyberjaya, 30 of which are MNCs.

Meanwhile, the master developer of Cyberjaya, Setia Haruman Sdn Bhd, is also upbeat about its housing projects in Cyberjaya.

Demand is now shifting to out-of-town buyers from just those working and living in Cyberjaya, said Setia Haruman chief operating officer Lao Chok Keang.

The Emkay group owns 75 per cent of Setia Haruman, which was appointed as master developer of Cyberjaya in 1998.

Setia Haruman has developed some 3,000 houses, of which 250 are high-end developments while the rest are medium-cost housing.

To date, some 750 medium-cost houses and about 200 high-end units have been sold. More medium-cost houses are expected to be built in the area to meet demand for homes within the RM200,000 to RM500,000 bracket.

By New Straits Times (by Presenna Nambiar)

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