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Persoft Properties to upgrade Menara Luxor

PETALING JAYA: Persoft Properties Sdn Bhd will further upgrade its Menara Luxor office building along Persiaran Tropicana, Petaling Jaya, Selangor following the government's approval for it to be developed into an MSC (Multimedia Super Corridor) Cyber Centre. 

The wholly-owned subsidiary of Persoft Corp Sdn Bhd will spend RM4.5 million on refurbishing Menara Luxor, said group director Shaiful Annuar Ahmad Shaffie.  

The company had spent RM6 million on the building earlier to ensure that it met MSC Cyber Centre status requirements. "Right now our building has already met 90% of the requirements. We will be spending another RM4.5 million to meet the remaining 10%," Shaiful said at a press briefing on Nov 13.  

Within the next six months, Persoft Properties will get Menara Luxor ISO certified to meet the necessary standards, he said, adding that the company will also rename the building Menara Persoft after refurbishment.

The building revamp is an initiative undertaken by the company to enhance the value of the building and the refurbishment is estimated to take up to 20 months to complete.  

Persoft Properties concluded the purchase of Menara Luxor for RM36 million on September 2008. According to group finance manager Lee Mee Foong, the building is currently valued at RM42 million. Former owner Luxor Management Sdn Bhd still occupies 15% of the space and will move out in 2011 upon the completion of their new office building.  

Persoft intends to lease out space at Menara Persoft to ICT companies at RM3.50 psf, which Shaiful said was a competitive rate compared with similarly-certified buildings which are charging RM4.50 to RM6 psf in rental. The company also hopes to boost rental yields from the current 6% to 8%.  

The 19-storey Menara Luxor has been in use since 1997 offering 133,575 sq ft of office space spread over 11
stories.


Menara Luxor will be renamed Menara Persoft upon completion of its refurbishment
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