By February 29, 2012 0 Comments

Projek Perumahan Rakyat 1Malaysia (PR1MA) in Cyberjaya

Emkay Group is planning to invest an additional RM3.8 billion in building more homes and commercial properties in Cyberjaya in the next five years on the back of robust demand for properties.

Its chairman, Tan Sri Mustapha Kamal Abu Bakar, said the group aims to build 3.1 million sq ft of office space development, 3,250 sq ft units of various types of residential units and 856 of commercial units and a light industrial area for automotive support services.

“This shows our commitment and confidence in Cyberjaya’s progress into the future and ever since our involvement here and together with other notable stakeholders, we have managed to position Cyberjaya appropriately in tandem with our government’s aspiration towards the realisation of Malaysia’s first intelligent city,” he told a media conference in Cyberjaya yesterday.

Since its inception in Cyberjaya, the Emkay Group has invested RM1.3 billion between 2006 and 2011 in developing office space, commercial and residential units. The projects provide a total nett floor area of 1.9 million sq ft of office space, 214 commercial units and 452 residential units.

Emkay’s development of residential units will see an increase of seven times or 3,250 units in the next four years as compared to between 2006 and 2011 with only 452 units.

For 2011 alone, out of a total of RM3.04 billion investments in Cyberjaya, 80% or RM2.4 billion was invested in development of residential units.

Mustapha added that the group has made a profit of RM213 million from the RM1.3 billion invested from 2006 until last year.

“This third wave is undoubtedly an important milestone in the development of Cyberjaya as a liveable city,” he said.

He added that Emkay also planned to build affordable homes in Cyberjaya under Projek Perumahan Rakyat 1Malaysia (PR1MA).

“We have written to the government. In fact the state government of Perak actually, in principal, has given their nod for Emkay to do this PR1MA project in the state. I’m not going to announce it, let the Mentri Besar announce it,” he said.

Mustapha said the group also planned to build and own seven buildings within the four-year period.

“To date we have two buildings, another one under construction in Kuala Lumpur and the balance of the buildings will be all over the country,” he said, adding that the average investment for each building is RM200 million.

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Posted in: Cyberjaya

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