Hot News On V Square Office Space

Phased-In

Making it vibrant with VSQ


12/05/08
Chris Prasad (from Straits Times)


Many institutional funds are on the lookout for investment opportunities in the real estate arena today, and properties that are attractively priced, well located and promise good yields are at the top of their list.


It is in this context that the upand- coming V Square (VSQ) commercial project in Petaling Jaya, Selangor, is making its presence felt.


Taking shape on 2.58 acres along Jalan Utara, within the city’s vibrant commercial district, the RM207 million endeavour aims to set a benchmark in workplace and entertainment standards.


Comprising two corporate towers, three office blocks and a retail podium with F&B outlets, VSQ has been designed to be PJ’s hotspot for working, dining and leisure.


Aware that private institutions as well as large corporations and even government bodies searching for sizeable commercial space in Selangor’s busiest city, project developer Malton Bhd said it plans to sell four of its five commercial components en-bloc.


These include twin 19-storey corporate towers and another two office blocks of seven storeys.


Malton director for sales and marketing Tracey Lai said each of the two towers will have a nett built-up area of 156,559sq ft and that prices start from RM527psf. The two office blocks with between 3,390sq ft and 3,645sq ft per floor are tagged at RM11.5 million and RM12.3 million, she said.


“Following our soft launch late last year, we are in the midst of closing the deal for the en-bloc sale of two office blocks,” Lai said, but declined to give further details.


The only block that will offer units on an individual stratified basis is a 17-storey office tower featuring 82 business suites. These will come in sizes of 921sq ft to 1,911sq ft, priced from RM435,900.


Lai believes VSQ’s combination of location, investment potential and strong development concept are factors that will drive its success.


In addition to being situated in a prime part of PJ, close to the Armada and PJ Hilton hotels, she said VSQ enjoys access to the Federal Highway and can attract business from the wide Kuala Lumpur-Klang corridor.


“Other existing office premises in the area are currently attracting rents of between RM3.50psf and RM4.50psf … we expect VSQ to command at least RM4psf and generate a rental yield of 8.6 per cent,” she said.


Over and above this, Lai said the project will have many attributes to add to its lure. For one, it will take on a bold, futuristic architectural style to fulfil its “Trends of Tomorrow” tagline and provide not just a stylish place to work in but also a vibrant place to hang out.


In addition to modern facades and efficient layouts for each building, the stratified units at VSQ will feature a pantry, bathroom, three-phase wiring and broadband connectivity.


At their doorstep, office occupants will have access to eateries, entertainment outlets, a common gym as well as pool area. Wi-Fi zones will also be provided.


For security, there will be a checkpoint at the main entrance, CCTV camera surveillance and card access system for the offices. There will also be 1,048 car-parking bays.


“While much of the project’s response has so far come from local buyers and investors, many foreign bodies have also been making inquiries,” Lai said.


Work on VSQ has already begun and completion is scheduled by 2011.