BBT-One set to be new Klang landmark

By BUSINESS TIMES

PROPERTY developer WCT Land Bhd has opened sales for BBT-One, its first commercial complex in Klang’s Bandar Bukit Tinggi 1 that includes two office towers and a four-star hotel.

The RM145 million project is built on a 2.83ha piece of land and consists of 20 units of four-storey shop-office, a 192-room business hotel and 270,000 sq ft of Grade B office space in twin buildings.

Construction began one-and-a-half years ago and will be completed by the middle of 2008.

“We expect to officially launch BBT-One in June this year,” WCT Land executive director and chief operating officer Lai Yeng Fock told Business Times in an interview.

All 20 units of its shop-office of 26ft by 90ft have been sold out and Lai is confident that the BBT-One office towers will receive a similar response, taking into consideration its location in Bandar Bukit Tinggi.

The development is strategically located along Jalan Langat, next to the existing Tesco hypermarket and within close proximity of the Giant hypermarket and the Aeon Bukit Tinggi Shopping Centre, which is taking shape on a 10.52ha site in Bandar Bukit Tinggi 2 and is expected to be ready by year-end.

Lai said with the retail outlets including restaurants and convenience stores located nearby, companies will be attracted to locate their operations there.

It is targeting port-related services and equipment companies serving the port industry including banks, shipping agents and marine insurance companies to take up space in its new office buildings.

“The BBT-One commercial complex will change the skyline of southern Klang, which currently lacks high-rise office buildings that incorporate the latest technologies, security surveillance systems and modern facade,” said Lai.

WCT Land plans to keep one of the office towers (Tower A with 120,000 sq ft of floor area) and lease it, and sell Tower B with 150,000 sq ft of floor area on a strata basis.

This is in line with the group’s plans to increase its recurring income in the form of land and real estate rentals in the future to ensure long-term earnings stability.

The group is expecting recurring income to make up about 20 per cent of its future revenue.

“However, our plans may change and we may sell both towers if we receive a good offer,” said Lai.

The developer is pricing the office space from RM298 per sq ft onwards, which is within the RM250 to RM350 per sq ft range currently offered by other commercial properties.

For the hotel portion of the development, Lai said it has no plans to sell the hotel.

It is set to enter into an agreement with Allson International Hotels & Resorts, a member of The Sunway Group, for the latter to manage the hotel under the Allson brand.