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Wednesday, February 29, 2012

Emkay's development of Cyberjaya enters phase 3

EMKAY Group of companies will develop the third phase of Cyberjaya for the next five years with a gross development value (GDV) of RM3.8 billion.

Emkay group chairman Tan Sri Mustapha Kamal Abu Bakar said it plans to embark on an additional 3.1 million sq ft of office space, 3,250 units of various types of residen-tial units, 856 commercial units and a light industrial area for automo-tive support services starting this year.

"A lot of people say there isn't much things to do here at night. Well, we plan to come up with something soon and no, it won't be in the form of nightclubs," Mustapha said at a briefing on its projects at Wisma Mustapha Kamal here yesterday.

He believes that Emkay's investment in Cyberjaya will increase by three-fold with the third phase of the development.

The group's involvement in Cyberjaya began eight years ago and from 2006 onwards, the company has started focusing on three types of development - residential, commercial units and office space.

Under the third phase of the Cyberjaya development, the group will venture into developing green buildings and light industry development.

The master developer of Cyberjaya, Setia Haruman Sdn Bhd is 75 per cent-owned by the Emkay Group.

On another matter, Mustapha said the group plans to own seven buildings nationwide in the near future.

Two of the seven buildings, Menara Mustapha Kamal in Damansara Perdana and Wisma Mustapha Kamal in Cyberjaya, have been completed.

The third building, Mercu Mustapha Kamal located in Damansara Perdana, will be completed late 2014.

Mustapha said the other buildings would be built over the next six to seven years. "The average GDV of each building is RM200 million."

He did not reveal the location of the other buildings.

By Business Times

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