Tujuan Gemilang's Point92 to be ready by June next year

KUALA LUMPUR: Tujuan Gemilang Sdn Bhd — the developer of PJ Trade Centre (PJTC) in Damansara Perdana, Petaling Jaya — is looking to sell Point92, its latest office building project en-bloc.

Located near PJTC, the leasehold 0.92-acre leasehold project with an indicative gross development value (GDV) of RM95 million is expected to be completed by June 2012.

"We started construction in March last year and have been in talks with several parties including Malaysian public-listed companies and investment funds for the building to be sold en-bloc. We are also open to leasing the building to an anchor tenant and then sell the building with tenancy," Tujuan Gemilang executive director Peter Chan told theedgeproperty.com recently.

The developer also plans to have a Green Building Index (GBI) certification for the building. There will be 12 office floors and seven car park levels. Average floor size is about 14,500 sq ft net per floor. The whole building will have a net built-up of 159,000 sq ft.

Chan said Point92 is located in a location with excellent access. "Many major companies have been relocating to this side of town in recent years to take advantage of the facilities and the pool of skilled workers here, including IBM, KPMG, Nestlé, KL Kepong, and — more recently — Schlemberger and Scomi.

"Another advantage of Point92 is that it is a stand-alone building. Unlike strata-titled office buildings, the owners of Point92 will have total control over the car parks, security, the property management as well as the naming rights and signages. Stand-alone office buildings are relatively rare in the market," he said.

Point92 is easily accessible to the Penchala Link, which connects the DUKE Highway and Maju Expressway, and onwards to the Kuala Lumpur city centre and Kuala Lumpur International Airport.

The developer's first project — the 4-acre odd PJTC — is about 50% occupied since its completion in Dec 2009. Its major tenants are Malaysian conglomerate Taiko, largest footwear company in the world Bata, property developer Emkay and the Petaling Jaya Income Tax branch, as well as Belgian IT company Materialist and Adidas. The building has also attracted advertising companies, IT companies, oil and gas companies and consulting firms. PJTC has a total net lettable area of 800,000 sq ft.