Fraser business park to be completed Q2 2010

KUALA LUMPUR: Fraser & Neave Holdings Bhd's phase two of the Fraser Business Park is expected to be completed by the second quarter of next year.

The project has a gross development value (GDV) of RM350 million.

"The second phase will be completed by January next year. With the completion of the educational college scheduled next March, it should be open to public by the second quarter or earlier," the general manager of F&N Properties Sdn Bhd, Ir Cheah Hong Chong said

A multi functional hub, the phase two is designed to be the largest electronic gaming and multimedia centre in the region, he told a press conference here on Tuesday.

Phase one of Fraser Business Park comprising 80 shop/office units, launched in early 2004 with a gross sales value of RM182 million was completely sold out.

The units were handed over in December 2006, six months ahead of schedule, Cheah said.

Phase two include the largest ICT hub developed by Brampton Holdings Sdn Bhd to be completed in January next year, Help University college with hostel complex, serviced apartments, e-Hotel, retail entertainment space, hypermarket, food court and outlets and 1,800 parking lots.

Cheah said the ICT retail lots offered for sales had been snapped up very quickly.

"There are over 800 lots for lease, of which over 500 units are ICT lots. So far, for the over 500 units, over 300 parties have shown interest and have been negotiating with us.

"We expect over 200 ICT operators to sign lease agreements soon as they would be our anchor tenants," he explained.

The 251 serviced apartments have been sold in bulk to a local private company while Brampton Holdings signed a long-term lease with Help University College with an estimated student population of 5,000.

Cheah said the phase three comprising corporate offices to be built later, will complete the Fraser Business Park.

By Bernama