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Old September 3rd, 2008, 04:02 PM   #181
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Old September 14th, 2008, 01:45 AM   #182
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Old September 22nd, 2008, 07:01 PM   #183
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MidValley City Receives MSC Malaysia Cybercentre Status
September 22, 2008 22:14 PM

KUALA LUMPUR, Sept 22 (Bernama) -- MidValley city, an integrated urban development, has received MSC Malaysia Cybercentre status.

Situated in the Klang Valley, MidValley City comprises development featuring a combination of retail, leisure, dining, entertainment and hospitality on 18 million sq ft of total built-up space.

The CEO of MidValley City Development, Antony Patrick Barragry said RM15 million had been invested to enable the Mid Valley City to offer competitive internet data centre rates and high speed broadband access.

"Together with partners Macro Lynx Sdn Bhd, the infrastructure manager and service provider for Mid Valley City and 3Com which is the infrastructure enabler, we will be providing world-class services to businesses," Barragry said during a ceremony to highlight Mid Valley City's MSC Malaysia Cybercentre status here Monday.

Barragry pointed that some 300,000 square feet of office space had been reserved exclusively for MSC Malaysia Status companies.

"To date, we have received expressions of interest from a number of parties," he said.

"The MSC Malaysia Cybercentre Status conferred on Mid Valley City will assist MSC Malaysia Status companies to remain closer to their customers, as many businesses are located in the city centre and adjacent areas in the Klang Valley," Barragry added.

-- BERNAMA
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Old October 13th, 2008, 02:53 AM   #184
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Old October 13th, 2008, 02:54 AM   #185
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Old October 13th, 2008, 02:55 AM   #186
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Old October 13th, 2008, 02:56 AM   #187
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Cybercentre status to boost Mid Valley office revenue
By Jeeva Arulampalam Published: 2008/10/13 BusinessTimes



OFFICE turnover at Mid Valley City in Kuala Lumpur will grow some 80 per cent to RM90 million by next year as The Gardens North and South Office Towers are fully leased out and occupied.

While office revenue for 2008 is expected to be between RM50 million and RM55 million, the incremental growth will be fuelled by Mid Valley City receiving its MSC Malaysia Cybercentre status last month.

Mid Valley City Gardens Sdn Bhd chief executive officer Antony Barragry said the response after the MSC status launch was encouraging, given 300,000 sq ft of office space had been dedicated for MSC-status companies.

"We will use much of the balance of the Gardens North Office Tower for our commitment to the MSC (status). We are in active negotiations with quite a few parties, and are confident that we should lease out in the next six months," he said.

Current occupancy rate at the Gardens South Office Tower is 76 per cent, while 86 per cent has been leased out. Meanwhile, the Gardens North Office Tower has an occupancy rate of 15 per cent and 25 per cent leased out.

The towers also target high-end corporate businesses albeit in the financial, marketing and oil and gas segments, as there has been pent up demand for Class A office space in the area.

Rental for office space will average RM6 to RM7 per sq ft as it will provide the company a sustainable business over the long term.

Barragry said the Mid Valley City development has a strong retail mix from its two malls, combined with three hotels and large office space.

"It gives us a dynamic mix and a sustainable model. For us as a group, most of this is recurring income so it allows us not only to operate but keep abreast with the latest technology," he said.

Mid Valley City is expected to contribute some 41 per cent to its holding company IGB Corp Bhd group projected revenue of RM1.15 billion for financial year ending December 31 2008.

The total revenue of RM470 million estimated to come from Mid Valley City development encompasses the office revenue, some RM280 million from retail and RM90 million from the hotels.

The RM470 million represents between 80 to 90 per cent of its full potential turnover upon completion of the development.

As the Gardens Hotel and Office Towers become fully operational and leased out next year, overall revenue contribution by sector in Mid Valley City will be 55-60 per cent retail (including car parks), 20 per cent offices and 20 per cent hotels.

The Mid Valley City development still has some 0.81 ha of land left to develop. Originally, the land was to be used for the construction of a convention centre but now it will see high-end condominiums.

"We recognise that Mid Valley City is a business hub so we are looking at whether we can bring some commercial element into this development. We have enough space to put two towers," Barragry said.

He said the company was currently negotiating with City Hall to wrap up the deal and should be able to firm up their plans by the coming Chinese New Year.

Barragry added that the company will study the Klang Valley market for the next five to 10 years and decide if this development was suitable before proceeding.
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Old October 18th, 2008, 06:36 AM   #188
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Old October 21st, 2008, 01:05 PM   #189
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Old November 19th, 2008, 02:22 AM   #190
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Mid Valley City gears to meet heavier traffic
By Jeeva Arulampalam Published: 2008/11/17

MID Valley City Gardens Sdn Bhd plans to improve the surrounding infrastructure of its eponymous development to support an increase in traffic flow within the next two years.

Two initiatives in the works are to increase the number of parking bays while reducing the number of cars frequenting Mid Valley City.

Mid Valley City Gardens chief executive officer Antony Barragry said the developer was studying the possibility of expanding its parking space.

"One issue is that our car park size is not enough to satisfy demand, particularly during peak times such as Friday," he said.

According to Barragry, Mid Valley City has 2.5 million to three million visitors a month, while the monthly turnaround for parking bays is 800,000 cars.

"With the newly completed offices and as business builds up in The Gardens, we see this figure increasing in the next one to two years. This will put a load on the infrastructure," he said.

The working population in Mid Valley City is also expected to grow, at least 40 per cent within the next year from roughly 25,000 currently, as office occupancy increases.

The developer is thus looking to reduce car traffic in Mid Valley City.

Barragry said the KTM Komuter station at Mid Valley City has proved invaluable. It was the second most frequent stop after KL Sentral several months after its opening in August 2004.

"We are in discussions now with KTM (Keretapi Tanah Melayu) for another station at Abdullah Hukum and we are hoping to wrap up with City Hall (discussions) on the linkage to the LRT (Light Rail Transit) Abdullah Hukum stop," he said.
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Old December 13th, 2008, 10:38 PM   #191
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Old January 1st, 2009, 07:22 AM   #192
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Old January 2nd, 2009, 01:18 PM   #193
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I like the design a lot. The whole project looks great!
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Old January 26th, 2009, 02:12 PM   #194
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Update:
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Old March 19th, 2009, 10:01 AM   #195
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Old April 1st, 2009, 05:30 PM   #196
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Old April 8th, 2009, 07:50 AM   #197
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Old May 10th, 2009, 07:19 AM   #198
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Old June 6th, 2009, 11:26 AM   #199
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Old June 6th, 2009, 12:07 PM   #200
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