YTL Land & Development Bhd expects 50 per cent occupancy by year-end for its newly-completed Centrio development in the highly popular Pantai Hillpark address.
“We handed over the keys on July 7 and we expect to achieve 50 per cent occupancy by year-end and 100 per cent by the first half of next year,” its customer relations manager, Karen Tan, told a media briefing after a tour of the Centrio in Kuala Lumpur yesterday.
Centrio is a low-rise mixed commercial development located at Pantai Hillpark in Bukit Kerinchi.It was launched in December 2006 and completed early this year.
The development comprises 306 units of small office/home office (SOHO), boutique offices, boutique garden offices and retail stores on 1.52 ha in Bukit Kerinchi.
With a gross development value of RM100 million, Centrio is developed by Syarikat Kemajuan Perumahan Negara Sdn Bhd, a wholly-owned subsidiary of YTL Land.
Tan said the value of the property has almost doubled since its debut in 2006. “The launch price for Centrio was RM280 per sq ft and RM350 per sq ft for the SOHO suites and boutique offices respectively, and in just over three years, they are currently valued at RM600 per sq ft,” she said.
The rental rates for the SOHO suites and offices are between RM3 and RM3.50 per sq ft, she said.