Wisma Mustapha Kamal expected to draw MNCs

THE Emkay Group's latest Grade A office building, Wisma Mustapha Kamal, with a a gross development value (GDV) of RM150 million, is expected to attract multinational corporations (MNCs) and local companies as tenants.

The group expects the building to be the right choice for corporate and MNCs to base their global operations centres.

Emkay Group chief operating officer Mazrita Mazlan said the duration of the lease is between five to 10 years.

"We have just started renting out. Our first tenant is the American International Assurance (AIA) Shared Services."

The launch of the building was graced by the Sultan of Selangor, Sultan Sharafuddin Idris Shah.

Wisma Mustapha Kamal, which consists of two tower blocks of 11 levels each, with a net floor area of 262,748 sq ft, is located at NeoCyber. Completed in January this year, it currently has a 30 per cent occupancy rate.

Meanwhile, Emkay Group chairman Tan Sri Mustapha Kamal Abu Bakar said the third phase of Cyberjaya development has seen RM20 billion investment commitment by 16 major developers, including the group itself.

He said of the RM20 billion, RM3.8 billion will be contributed by Emkay Group, mainly for residential, office and commercial deve-lopment for the next five years (2012-2016).

He said starting this year, the group plans to embark on an additional 3.1 million sq ft of office space, 3,250 units of various types of residential units, 856 commercial units and a light industrial area for automotive support services.

He said out of Cyberjaya's 2,832.8ha land area, 27 per cent has been developed, 48 per cent will be developed in the third phase of Cyberjaya development and 25 per cent for future development.

"Therefore, Cyberjaya has to continue to remain competitive to entice future investors to this intelligent city," he said.

By Business Time Online

Source : http://www.btimes.com.my/Current_News/BTIMES/articles/cyberMK/Article/index_html