Golden Triangle offer from BCorp

THE landscape for office ownership in Kuala Lumpur is set to change as Berjaya Corp Bhd (3395) is offering strata title units in the Golden Triangle for retail investors to buy.

It is rare for developers to offer strata title units in the Klang Valley. Usually, the office building is sold en bloc, or the units in bulk, to institutional investors.

BCorp recently launched the much-awaited Ritz Corporate Suites - a Grade A officer tower fronting Renaissance Hotel - at the corner of Jalan Ampang and Jalan Sultan Ismail.

The twin towers Ritz project with green features is worth more than RM1 billion. The second tower is the 48-storey Ritz Carlton Residences, targeted for launch next year.

Mah Siew Wan, senior general manager for the properties and marketing division, said BCorp was confident that the 46-storey Ritz Corporate Suites would be sold out in three years.
Since its launch at the end of last month, some 10 per cent of the 207 units have been sold.

"We are confident that take-up will improve as this is a rare opportunity for investors to own strata title office lots in the Golden Triangle area.

"We are giving retail investors more investment choices instead of buying land and high-rise residential properties," Mah said in an interview with Business Times.

Mah said the Ritz Corporate Suites development is unique.

Each unit has an eco-friendly building management system to monitor and minimise utility usage. The level of carbon dioxide on each floor is also monitored.

The office tower units come in various sizes.

The smallest unit is 755 sq ft and worth more than RM1 million. There are units ranging from 755 sq ft to 2,831 sq ft, 2,379 sq ft to 4,069 sq ft, and 5,210 sq ft to 7,890 sq ft, priced between RM1,000 and RM1,350 per sq ft.


-- By Sharen Kaur