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Wednesday, April 18, 2012

Cyberview expects RM3b investments

CYBERVIEW Sdn Bhd, the landowner and developer of Cyberjaya, expects to attract some RM3 billion worth of investment into the global MSC Malaysia Cybercity hub this year.

Cyberview managing director Hafidz Hashim said it had attracted some RM3.2 billion investments from various sectors last year.

"There is a strong interest from multinational companies (MNCs) and local firms to set up their operations as well as global service centres in Cyberjaya.

"The global service centres, which are being set up by the MNCs, for example, will be able to create thousands of high-end jobs," he told reporters after the signing of a memorandum of understanding (MoU) between Cyberview and Teknopark Istanbul.

It was held on the sidelines of the Defence Services Asia 2012 exhibition here yesterday.

Hafidz said that the company had justdelivered part of IBM's global centre.

"Now we have over 620 companies, local and foreign, operating in Cyberjaya," he said.

On overall development of Cyberjaya, Hafidz said as of end of last year, physical development of the land available to develop has reached 40 per cent, excluding those which are under construction and planning.

""If we include those (under construction and planning) which are expected to be realised within the next two or three years, we will be hitting 70 per cent.

"By 2020, we should reach substantial development at Cyberjaya," he said.

Hafidz said there is a few projects undertaken by private developers in Cyberjaya.

"Based on our existing models, we do invite private developers and investors to take up parcels of land to be developed by themselves and they will then push their niche products to the market.

"We have seen OSK, UM Land, Glomac, SP Setia and Mah Sing Group very aggressively putting up various parcels of development in Cyberjaya.

"Most of them are built in phases over the next two to four years, depending on the size and scale of develpment."

For Cyberview itself, he said it is very much involved in building public infrastructure amenities.

The firm hopes to start the first phase of a residential development, especially for the middle-income group on a 100-acre (40.46 hectare) land, with a gross development value of RM900 million.

By Business Times

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