Posted on | February 14, 2012
By THE STAR
PETALING JAYA: After having been vacant for more than a decade since its completion in 1999, Marinara, now known as Menara 238 Kuala Lumpur, will kick off its advertising and marketing blitz starting next month amid a challenging office space rental market.
Prokhas Sdn Bhd would begin a series of media advertising campaigns to promote the building, said a source. Prokhas is a private limited company wholly-owned by Minister of Finance Inc.
There may be a possibility that telecommunications company Celcom may rent three floors in the building and negotiations are underway. Menara Celcom is located next door and Celcom and Perkeso staff have been using Menara 238′s 880 parking bays for about six months now.
Menara Celcom is next to Menara 238 while Menara Perkeso is diagonally across the road junction.
Menara 238 was formerly known as Marinara.
On the first floor, a management office has been set up with a sign which read “Menara 238 is now under the proprietorship of Danaharta Sdn Bhd, and currently managed by Prokhas Sdn Bhd.”
Workers and security guards said the management office was set up around the middle of last year.
Buntings have been placed on the ground floor, advertising that 500,000 sq ft of office space are up for rent despite the ongoing legal tussle between politician Marina Yusof and national asset management Danaharta Hartanah Sdn Bhd, with both parties claiming ownership of the building.
In October, Marina took out an advertisement to sell or rent the building located at the junction of Jalan Tun Razak and Jalan Raja Muda Abdul Aziz.
Prokhas, in a email, said since Feb 2011, the registered name was Menara 238. Sources said “the owner of the building is Danaharta Hartanah Sdn Bhd, a subsidiary of Pengurusan Danaharta and Prokhas is the building manager. We have put the building on lease and when it is more than 50% tenanted, it will be easier to sell because the buyers will want a tenanted building.”
Marina Yusof also claimed ownership in an email to StarBiz.
It was reported that in 1980, Marina spent RM10mil to purchase a piece of land to construct the tower. It originally cost RM300mil to build and foundation works started in 1995. It was completed four years later. But the Asian financial crisis of 1997/98 netted many victims and the building was transferred to national asset management company Danaharta, which was established after the 1997-98 financial crisis.
Several years ago, the property, which sits on 2.06 acres (0.82 ha) was renovated and its 60 apartments and penthouses from 27th floor up to the 37th floor were converted into office space.
It is centrally located about 1km between Petronas Twin Towers and Kampung Baru. Menara 238 has a gross floor area of 960,000 sq ft and a net lettable area of 460,000sq ft.
- Malaysia Real Estate News
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