RM700 million GDV in Putrajaya this year

PUTRAJAYA: Putrajaya Holdings Sdn Bhd (PJH), the master developer of the administrative capital here, is launching more projects this year with an estimated total gross development value (GDV) of RM700 million.

PJH CEO Datuk Azlan Abdul Karim said the company was looking at several more projects comprising office blocks with one million square feet of space. "When sales are picking up, we want to embark on more projects. We are confident that the demand is there," he said, but did not provide details on the timing of the launch of the office blocks.

Azlan said there were four ongoing residential projects at 18R1, 18R5, Precinct 8 and Precinct 11 here at this moment.

"We are looking at bringing in more multinational companies as Putrajaya continues to develop and progress," he told reporters at the signing ceremony of a construction agreement between PJH and Ahmad Zaki Resources Bhd Group's construction arm, Ahmad Zaki Sdn Bhd, here on Monday, April 12.

The signing marked the cooperation between the two parties on the waterfront commercial development at Lot 8C1 in Precinct 8, which is independent of the planned RM700 million GDV projects this year, said Azlan.

PJH project management division general manager Hassan Ramadi said Lot 8C1 would further strengthen business activities in Putrajaya, noting that the GDV of the development was estimated at RM126 million.

Azlan said the office buildings, ranging from three to five storeys, had a good mix of 30%-40% of food outlets, some small retail shops and offices in a stratified style, and would be priced at RM500 per sq ft on average.

"We are very optimistic about this project because many people have been asking for it," he said, adding that 50% of the office space had been booked for sale. The project will be officially launched in three weeks' time and scheduled for completion in 2012.