Jaya33 Open to Asset Sales
JAYA33 Sdn Bhd, a niche developer, will consider disposing of some of its office towers at Jaya33 Cybercentre in Petaling Jaya, Selangor, if there are good offers, its chief said.
Jaya33 Cybercentre, which is GBI certified and MSC-compliant, comprises five Grade A offices towers.
According to the firm's marketing director, L.C. Toh, the current market value for the buildings range between RM600 million and RM700 million.
Jaya33 is controlled by the Che family. The main shareholder is Che King Tow, who sits on the board of Malaysia Resources Corp Bhd.
Che was previously the developer for the Bukit Rimau township in Shah Alam but he disposed of his interest to Malton Berhad in 2002.
He also owned Domain Resources Sdn Bhd, a firm that project manages the rehabilitation of low-cost housing for Bank Negara, which he sold to Malton.
Jaya33 Cybercentre, located on a 2.6 hectare site at the junction of Jalan Kemajuan and Jalan Semangat at Section 13, is being developed in two phases. It is currently the only project by Jaya33.
Phase One, completed in March 2007, comprises a 12-storey and two six-storey towers, that sit on a five-level podium, with carpark and retail.
Phase 2 is under-going construction and is expected to be completed by the end of this year. It will feature two 14-storey towers sitting on top of a six-storey podium.
"Anything can always be considered, such as an offer to buy any of the towers," Jaya33 general manager, Tan Kok Leong, said yesterday, at the launch of Phase Two.
The buildings at Phase One are currently fully tenanted.
Jaya33 also plans to lease Tower 4 and 5 under Phase Two, for between RM4.50 and RM5.00 per sq ft.
At Tower 5, Jaya33 is setting up a 57,000 sq ft three-level data centre, with MyTeleHaus.
By Business Times Online