Mid Valley City gets cybercentre status
Posted on | September 23, 2008
By BUSINESS TIMES
PROPERTY developer IGB Corp Bhd has pumped RM15 million into Mid Valley City, to enable fibre-optic connectivity through-out its mixed-development hub.
Mid Valley City recently received MSC Malaysia Cybercentre status on September 11 under the MSC Malaysia National Roll-Out plan.
The Garden Towers are designated to house the MSC Malaysia-status companies, with rental averaging between RM6 to RM7 per sq ft.
These rental prices are similar to Grade A buildings located in Kuala Lumpur.
“We have reserved some 300,000 sq ft of office space exclusively for these companies,” said Mid Valley City Gardens Sdn Bhd chief executive officer Anthony Barragry during the MSC Malaysia status launch in Kuala Lumpur yesterday.
Barragry said he was confident that this rental would provide the firm with a sustainable yield, adding that they were currently in talks with potential tenants.
The 35-storey North and South Towers have more than one million sq ft of gross lettable area.
“In the last 10 years, there has been a massive growth in technology. For us to remain ahead, we have invested in broadband (services) as there was keen demand for it,” said Barragry.
Mid Valley City has high speed broadband access for firms as well as incubation facilities to help small and medium industries.
Multimedia Development Corp chief executive officer Datuk Badlisham Ghazali said several mutinational companies have shown strong interest in setting up shop at Mid Valley City.
“Many companies are looking at centralised business community portals. Currently, there are 15 cybercities and cybercentres in the country,” he said.
Also present to officiate the launch was Science, Technology and Innovation Deputy Minister Fadhillah Yusof.
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