CYBERJAYA: The Emkay Group has launched the first phase of Star Central, a mixed development with a gross development value (GDV) of RM1.8 billion in Cyberjaya.
The project will be on an 18-acre freehold commercial site to be developed in seven phases over seven to 10 years.
The first phase is known as the corporate park with a GDV of RM420 million. The corporate park offers 17 blocks of 8-storey semi-detached offices with a net floor area (NFA) of between 1,881 sq ft and 2,838 sq ft per floor. Each semi-detached office block allows naming rights for its tenants’ businesses.
The towers are linked at the rear by a car park podium and a rooftop garden terrace. The office space is priced from RM550 per sq ft (psf) to RM650 psf. Each block comes with 32 covered parking bays with an additional two VIP bays at ground level.
According to Peter Teh, CEO of Joyful Star Sdn Bhd, a subsidiary of Emkay Group, response to the office blocks has been encouraging.
“Five have already been signed and five of the units are booked, and we are talking to more agencies to take up the balance,” he said during the launch yesterday.
The corporate park also has two other office buildings each with a net floor area of 4,823 sq ft to 6,008 sq ft per floor. Built-ups for each block are from 18,000 sq ft to 45,000 sq ft. Construction of the first phase will begin next month and is expected to be completed in 2015.
|An artist's impression of Star Central @
Phase 2A and 2B of Star Central @ Cyberjaya will offer a 25-storey SoHo Tower with a GDV of RM159.7 million each while phase 3A will offer a 10-storey shop office building with a GDV of RM80.8 million.
Phase 3B will be a 6-storey hypermarket with a GDV of RM277.7 million while phase 4A and 4B will be a 48-storey serviced apartment tower with a GDV of RM453.9 million and a 41-storey hotel with a GDV of 332.2 million.
Emkay group is expected to invest as much as RM3.7 billion in Cyberjaya over the next five years. This includes projects such as Star Central, Autoville (for automotive services) and MKN Embassy Techzone.
Emkay Group chairman Tan Sri Mustapha Kamal Abu Bakar said the group is planning to develop about 3,000 affordable homes in Cyberjaya as well. This is expected to commence in the second quarter of 2013.
Emkay Group has developed properties with an estimated GDV of RM10 billion comprising 50,000 units of residential and commercial units and five million sq ft of office space.
Its other developments include NeoCyber in Cyberjaya, Neo Damansara in Damansara Perdana and the Belum Rainforest Resort in Pulau Banding, Perak.
This article is appeared in The Edge Financial Daily on 28 September, 2012.
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