Schlumberger Financial Hub opens in 1 First Avenue, Bandar Utama

KUALA LUMPUR: Schlumberger Limited, one of the world's leading oilfield services companies, has opened its financial hub and regional headquarters at 1 First Avenue in Bandar Utama, a Grade A green-rated office building.

The opening was officiated by Datuk Sri Idris Jala, minister in the Prime Minister's Office and CEO of the Performance Management and Delivery Unit (Pemandu) on Tuesday Nov 16.

"The Schlumberger Financial Hub is among the Entry Point Projects to attract 100 multinational companies to set up their global or regional headquarters in Greater Kuala Lumpur Klang Valley under the Economic Transformation Programme," Jala said. Schlumberger is a leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide.

The multinational corporation has leased three floors — level 6, 7 and 21 — or a total space of 82,160 sq ft in the 25-storey office tower that also has Multimedia Super Corridor (MSC) status. Levels 6 and 7 (with a combined space of 54,759 sq ft) will house the financial hub, while level 21 will house Schlumberger's Asia Area Headquarters.

From left: Schlumberger chairman of companies for Asia Jamal A Ainul, Jala and Schlumberger Limited EVP & CFO Simon Ayat at the Schlumberger Financial Hub opening. Photo By Suhaimi Yusuf1 First Avenue developed by Bandar Utama City Corporation Sdn Bhd has a total net lettable area (NLA) of about 600,000 sq ft. It has an occupancy rate of about 90%.

Rental rates at 1 First Avenue averages around RM5.50 psf. In comparison, average rents of offices in the neighbouring Mutiara Damansara such as Surian Tower is around RM5 psf, Menara UAC (RM4.50 psf) and Menara KLK (RM4.50 psf).

"Rental rates for 1 First Avenue is higher because it is a green building with MSC status, high ceilings, raised floors, a sky garden, large floor plate of 25,000 sq ft per floor, ample car parks, near amenities and public transportation," said Daniel Goh, head of corporate services for real estate agency CBD Properties Sdn Bhd.
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