Its chairman, Mustapha Kamal Abu Bakar, said by then Kuala Lumpur and Cyberjaya would be seamless intelligent cities with high-impact companies providing high-value jobs.
“We’re ready, although a little late, but it’s timely. Ultimately this whole area would become a Multimedia Supercorridor,” he said at a press briefing.
Promising to be a city of the future, Cyberjaya has become a leading edge for multimedia centres in Malaysia, capable of attracting world-class multimedia and ICT companies, as well as, professionals and students.
Mustapha said at present, a new wave of investment by 16 companies was taking place, which would inject about RM20 billion until 2016.
Out of the RM20 billion, Setia Haruman will contribute RM2.5 billion and enjoy a margin of between 20% and 30% from its investment.
Mustapha said the development in Cyberjaya has also gained momentum, with the price of office space having soared by about 30% in the last two years.
Previously, he said the company had to subsidise office rental rates.
“But now it has risen to RM5 per square foot, from RM1 previously. That gives an indication of growth. I am anticipating by 2016, the rental is going to be far better than RM5,” he said.
Besides its high potential, Mustapha said the property market in Cyberjaya would be stable because there were almost 20,000 students living in the area.
“Even if there’s a change in market situation for a period of time, Cyberjaya can still take it,” he said.
Choice of investors
Setia Haruman has been entrusted with the role to plan, design and prepare the primary infrastructure for the Cyberjaya Flagship Zone.
The area covers 2,851 hectares of freehold land consisting of four main zones known as enterprise, commercial, institutional and residential.
Each zone is fully equipped with a host of intelligent network services and interactive broadband services.
The city is also fully equipped with wireless interactive city broadband services, fibre-optic networks and the latest information technology infrastructure and facilities.
Mustapha said Setia Haruman still has about 400 hectares of landbank left to be developed in the future.
“Bear in mind there’s no other developer that has that amount of landbank fully equipped with infrastructure, amenities and facilities.
“My job as a developer is to provide facilities so that it becomes the choice of investors. Time is the essence for the whole thing,” Mustapha said.