Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Friday, August 13, 2010

Cyberjaya to be 30pc complete by year-end

CYBERJAYA'S overall development, encompassing the ambitious MSC Malaysia to leapfrog Malaysia into the information and knowledge age, is expected to be 30 per cent complete by year-end.

Cyberjaya landowner, Cyberview Sdn Bhd, said the township's current level of development has exceeded the target, with investors having injected RM5 billion worth of investments in building construction.

Rashid Mat, general manager for business, corporate communications and planning, said land worth RM390 million was sold last year and RM300 million in 2008, reflecting growing interest by global firms to relocate to Cyberjaya, dubbed the "Intelligent City".

The inflow of notable global multinational corporations (MNCs) into Cyberjaya continue unabated, with Hewlett-Packard (HP), the world's largest technology company headquartered in California, looking to expand its presence in Cyberjaya, Rashid said.

Cyberview has developed 600,000 sq ft of office building on 11.2ha for HP.

It is understood that HP is keen to buy another piece of land to develop a data centre in Cyberjaya. Spanning an area of about 2,800ha, Cyberjaya is home to more than 20 MNCs including Dell, Satyam, HSBC, Motorola, IBM, HP, data centres of Bank Negara Malaysia and Malaysian Communications and Multimedia Commission, universities, commercial zones and residential estates.

In terms of office space, Cyberview said the company is looking to develop 8.04 million sq ft by year-end from the previous five million sq ft target due to growing demand from MNCs and MSC-status companies.

Rashid said many companies are now willing to own a property in Cyberjaya than to rent premises. "We will continue to pursue the plan for foreign companies to set up their operations in Cyberjaya. The demand is not just from MNCs, but also MSC-status companies," he said.

For residential space, Rashid said more developers are starting to develop projects in Cyberjaya and purchase land from Setia Haruman Sdn Bhd, the master developer of Cyberjaya.

"Over 2,900 residential units have been completed, with another 2,300 in the pipeline, including the Garden Residence by Mah Sing Group Bhd and Symphony Hills (by UEM Land Bhd)," he said.

Rashid said Setia Haruman sold RM390 million worth of land in Cyberjaya last year and RM300 million in 2008 which will further alter its landscape into a bustling business enterprise.

By Bernama

No comments: