YNH appoints architects for building

PENANG: YNH Property Bhd has appointed Foster & Partners as architects for the group’s RM1.8bil Menara YNH in Kuala Lumpur's Golden Triangle.“We made the appointment because our buyers for the project have indicated that they wanted an internationally-renowned architect for the building.“The rationale is to add value to the project,” group corporate services head Daniel Chan told StarBiz.Britain-based Foster & Partners, appointed last week, has high-profile projects in Germany, South Korea, Hong Kong, France and Malaysia.The company designed the London headquarters of global insurance company Swiss-Re, Hongkong and Shanghai Bank's head office in Hong Kong, Hong Kong International Airport - touted as the world’s largest airport - and London’s third airport, Stansted.It is currently designing Daewoo Electronics' headquarters in South Korea, and Vivaldi Tower in Amsterdam, the Netherlands.Sir Norman Foster, the 1999 Laureate of the Pritzker Architecture Prize, is chairman of Foster & Partners.Chan said the iconic Menara YNH would have a luxurious retail podium equipped with energy-saving features. The 45-storey building will have more than 55,000 sq ft of built-up area per floor, and a total of 1.2 million sq ft of lettable space. Read more

(The Star 1-4-2008)

New Development: PJ's Section 13 (Part II)

Meanwhile, a consultant familiar with the area believes that the project will do well because of its location. Kim Realty principal Vincent Ng also told theSun that the whole Section 13 area has been zoned for commercial use.“Nowadays Jalan Kemajuan is very much considered a main thoroughfare and with its close proximity to the Federal and Sprint highways, it will be suitable for businesses that are looking for an office away from the city centre, which is getting too crowded,” said Ng.Ng also noted that bungalows along Jalan Kemajuan have been transformed into business premises over the past few years. “Businesses here front the main road and enjoy good exposure. Demand for land here is also on the rise and I believe people are willing to pay more than RM200 psf, depending on the size and location of the site,” he added.As land prices become more expensive in the city centre, Ng also feels that businesses are moving away from the city centre to suburban areas. Citing Damansara Heights as an example, he said rental rates for office space there is in the region of RM5.50 psf.“Rental rates in the Section 13 area are easily going between RM3.50 and RM4 psf, such as those in Jaya 33, which is fully occupied, and 3 2 Square’s tower block,” said Ng, adding that PJCC could command a rental rate of about RM4 psf if it were to be a nicely done up modern building.With the appreciating land cost at Section 13, Ng also felt that it would be a waste to offer industrial properties.

(The Sun 25-3-2008)

More Office space for PJ's Section 13

PETALING JAYA: The Brunsfield Group of Companies is targeting multinational companies who are on the lookout for a Petaling Jaya business address to take up space at its upcoming corporate office-cum-showroom building that will be coming up along Section 13’s Jalan Kemajuan.Its executive director of property development Chan Chee Keong told theSun its central location would ensure the success of its project, known as Petaling Jaya Commercial Complex (PJCC).“The commercial site is also near popular eateries like Restaurant Unique Seafood. Nearby existing and upcoming commercial developments point to the potential of this area as well,” said Chan.Having obtained its building plans and development order approvals recently, construction of the eight-storey project with a gross floor area of 378,172 sq ft and a net letable area of 289,997 sq ft on a freehold 3.48-acre site will start in June. Completion is in 36 months and the developer plans to lease the building enbloc.“We have started the pre-leasing exercise and have received a few enquiries.Such a building will be ideal for businesses that also need warehousing or storage facilities to accompany the office. Behind the main block of PJCC, there is space for such facilities,” he added. The Sime Darby Group and Brunsfield jointly own the site. PJCC will house showroom facilitieson the ground and first levels while the remaining upper floors will be for office use. According to Chan, rental rates are between RM4 and RM4.50 psf.

(The Sun 25-3-2008)

Ireka lines up office blocks for launch

KUALA LUMPUR: Aseana Properties Limited has slated two blocks of office towers for launch in downtown Mont’Kiara by year end.The project is pending approval from the local authorities, said Ireka Development Management Sdn Bhd COO Lim Ech Chan. Ireka Development, a wholly-owned subsidiary of Ireka Corporation Bhd, is the development manager for Aseana Properties, a property investment and development company listed on the London Stock Exchange with a market capitalisation of approximately US$250 million (about RM800 million).“The office towers are set to be a new landmark in Mont’Kiara with our hallmark i-ZEN inspired designs,” said Lim. The towers will be 28- and 16-storeys in height.Each floor will have an average floor space of 12,000 sq ft. “We are keen on selling off the entire floors to buyers. We are also looking at interested parties to purchase the offices en-bloc,” he said.The average price for the office towers is at RM850 psf. “We believe the property value will appreciate in time to come,” said Lim, after a signing ceremony with LG Electronics Sdn Bhd at the Tiffani by i-ZEN show gallery in Mont’Kiara yesterday.

(The Sun 19-3-2008)