RM8b-RM10b Cyberjaya project on drawing board

Known as Cyberjaya City Centre, the 57ha commercial project will take about 15 years to develop, says Cyberview managing director

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Cyberjaya: Cyberview Sdn Bhd, the landowner of Cyberjaya, is coming up with a new commercial project worth about RM8 billion to RM10 billion to drive new investments at the cybercity. Known as Cyberjaya City Centre, the 57ha project will take about 15 years to develop, said Cyberview managing director Hafidz Hashim. "We are selling the tender documents now for companies to compose the best masterplan and commercial proposal. "We expect this project to take Cyberjaya to a new level," Hafidz said yesterday after a media briefing on the Cyberjaya progress. It is understood that more than 20 developers are keen in the project, including Mah Sing Group, UEM Land Holdings and Naza Group. Cyberview aims to woo more multinational companies (MNCs) and domestic investments there. More than 500 firms are operating in Cyberjaya, and 35 MNCs. In terms of land deals, Cyberjaya has sold three times more landbank this year totalling 259ha (RM1.23 billion) compared with 82ha (RM404.30 million) in 2010, driven by developers seeking to launch residential projects. Hafidz said this brings total investment into Cyberjaya for 2011 to RM3.04 billion, or RM12.35 billion since its inception in 1997. Meanwhile, Cyberjaya expects RM3.73 billion worth of new developments for next year, which are to be achieved through further land sales of enterprise, commercial, institutional and residential space, Hafidz said. "There is more interest now in Cyberjaya. The investing public are more aware that we are very close to the Kuala Lumpur City Centre and the Kuala Lumpur International Airport in Sepang. "The connectivity has opened up attention to other developers," Hafidz said.