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Friday, September 4, 2009

Glomac eyes more land in Cyberjaya

Developer Glomac Bhd might buy more land in Cyberjaya, Selangor following the success of its RM180 million flagship Glomac Cyberjaya project.

The first phase of Glomac Cyberjaya, comprising 39 units of three-storey and three-and-a-half storey shop offices worth RM64 million or more than RM1.45 million each were launched in late July.

Group executive vice-chairman Datuk Richard Fong said 75 per cent of the units were sold within a week.

"We were caught by surprise. We did not expect sales to move so fast. It shows the market is improving and there is demand for shopoffices in Cyberjaya. We will buy more land in Cyberjaya if demand for the properties pick up," Fong said.
Glomac had acquired 3.3ha of freehold land to develop Glomac Cyberjaya from land owner, Cyberview Sdn Bhd, for RM21.24 million in January.

"We still have 24 units of three-and-a-half story shopoffices worth RM40 million to sell. We are launching the units this month and expect sales to move as quickly," he told Business Times.

The final phase for Glomac Cyberjaya will include a data centre and a 15-storey office tower, worth a combined RM75 million.

Fong said the two buildings will be launched in early 2010 and Glomac is looking for serious en bloc buyers.

"We have been approached by some parties but there is nothing on the table yet," Fong said.

Glomac Cyberjaya is strategically placed in Cyberjaya and its immediate corporate neighbours are bigwigs like HSBC, DHL and Ericsson.

By Business Times (by Sharen Kaur)

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