This development of Grade ‘A’ offices suites offers an unprecedented opportunity to tap into the lucrative commercial opportunities offered by the continued growth of Kuala Lumpur.
Asian economies have yet again burst into life and set along a path of economic growth. This year the economies of South East Asia are set to enjoy an average growth rate of over 5%, a full 9% above the contracting economies of the West.
The Malaysian economy grew 5.1% during 2008, following a growth of 6.3% during 2007. With private consumption growing year on year fuelled by low inflation and declining interest rates; and FDI increasing (69% in 2007), Malaysia is a leading light within Asian expansion.
Investments in Malaysian city hubs offer some of the best opportunities in the country thanks to rapid urban expansion and a government commitment to encouraging property investment. Recent government legislation has included the abolition of rent control and Capital Gains Tax and the easing of foreign ownership laws.
With the market rapidly improving, there is a limited window of opportunity to acquire quality, high yielding commercial property at 20% below market value.
Located in the commercial and leisure hub of Jalan Tun Razak, the Southgate Office Development, lies on one of the major arteries of Kuala Lumpur City Centre (KLCC) – just 5 minutes from the capital’s centre, on the boarder of the Golden Triangle.
The commercial property market in and around KLCC continues to be robust with rising occupancy levels and appreciating rents. Due to severe under supply prime office rentals surged between 15-20% in the first quarter of 2008, a situation which looks unlikely to change before 2012. Furthermore, the average occupancy levels of prime office space in the Golden Triangle reached 96% during 2008 and with rising rents, there has never been a better time to invest in this thriving Asian hub.
Southgate is a distinctive, modern multi use commercial development with a design inspired by the European themed Xintiandi development in Shanghai.
Due to complete in Q3 2011, Southgate will house a combination of creative work spaces, restaurants, cafes and bars, retail outlets and freehold office units.
Designed in 5 blocks, the development will feature a main 8 storey high Corporate Building facing Jalan Tun Razak and the 7 storey high Apex Block, facing Jalan Dua. Three further blocks named Vox, Vivo and Verve will be encapsulated within the main Corporate Building and enjoy interconnectivity through the unique atrium space. These will be made up of 226 units of office suites and 64 retail units.
- High-speed wireless broadband
- Active and passive security system
- 1056 parking bays for customers and tenants