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Monday, March 30, 2009

Cyberview draws up 5-year plan for Cyberjaya

CYBERVIEW Sdn Bhd is drawing up new plans for Cyberjaya - including products and development - that will cover a five-year period from 2011 to 2015, a top official said.

"We will have a round of discussion with the Economic Planning Unit to identify what are the niche areas that need to be prompted and expanded. One area where I see a lot of potential is creative multimedia," said Redza Rafiq, managing director of the government-linked entity spearheading developments at Cyberjaya.

He believes there will be an influx of investments to Cyberjaya as companies worldwide, especially Ame-rican information and communications technology (ICT) firms, relocate to keep costs low.

Cyberview has embarked on a campaign to promote Cyberjaya in North America, and several firms have indicated their intention to move to the ICT hub, Redza told Business Times in an interview recently.

"We are expanding. It is not a real estate game. We are using property as a tool to create economic opportunities in targeted sectors. We believe there are opportunities in every crisis," he said.

Redza said Cyberview is moving to develop more land and provide more buildings as demand has outstripped supply.

There are currently 500 companies operating in Cyberjaya, 465 of which are homegrown and the rest, multinationals. This is 65 per cent more than three years ago.

Redza said 26 companies have confirmed moving to Cyberjaya since July last year, including Malladi, a biotech firm from India; Rhythm & Hues Studios, which specialises in visual effects and computer animation for feature films; Experian plc, a global information services company; institutional investor services provider RBC Dexia; and a prominent US-based micro processor.

Cyberview is currently busy building eight properties for, among others, Dell, Satyam, Hewlett-Packard, KRU Studios, and the Knowledge Workers Development Institute.

These properties are worth a combined RM585 million, and will add 1.65 million sq ft of new office space in Cyberjaya by end-2010, breaching the anticipated five million sq ft mark.

Redza said it will also create 7,000 new jobs by then, increasing the current workforce of 19,000.

Cyberview, meanwhile, has postponed the launch of its flagship housing project, myHome@Cyberjaya, worth over RM100 million, to the fourth quarter.

It was aiming to launch the project, comprising 1,000 units of serviced apartments and double-storey houses worth from RM88,000 to RM168,000 respectively, in August last year.

The delay is due to unexpected demand from knowledge workers in Cyberjaya, Redza said.

Today, some 25 per cent of Cyberjaya's total land size is developed with proper infrastructure, public amenities, houses, commercial blocks, SME buildings and learning institutions.

"It would be unrealistic to assume that we would be unaffected by job cuts by companies operating from Cyberjaya. But it is realistic to believe the effect on Cyberjaya will be more muted compared to other areas," he told Business Times.

By Business Times (by Sharen Kaur)

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