Source: Damansara City website.
GuocoLand Malaysia’s key project, Damansara City, will soon house the Hong Leong Group’s global headquarters. The 33-story, top-tier office building, situated on the southwest side of this notable development, will be a major tenant within Damansara City when fully occupied by the second quarter of next year.
The Hong Leong Group is a prominent Malaysian conglomerate with interests in banking, financial services, manufacturing, distribution, property development, investment, hospitality, leisure, and principal investment. The Group oversees listed companies and numerous subsidiaries and associates across North and Southeast Asia, Western Europe, the UK, North America, and Oceania.
Damansara City is a multi-use development featuring two Grade-A office towers, two luxury residential towers known as DC Residency, a food and beverage-focused lifestyle mall, and a five-star hotel.
GuocoLand anticipates Damansara City will initially host 10,000 daily workers within its integrated development and an average of 6,000 visitors once fully operational by mid-2016. The projected development of surrounding areas is expected to boost foot traffic, further increasing demand and value for Damansara City’s residential and commercial units.
Office Tower A’s 530,000 square feet of usable space will be handed over to various Hong Leong Group companies over the coming months. “This announcement cements Damansara City’s position as the core of a new prominent business district within the Greater Kuala Lumpur and Damansara Heights communities. It highlights our unique blend of features, appealing to both investors and corporations.
These include our location within the exclusive Damansara Heights enclave, minutes from Bangsar, KL city center, KL Sentral transportation hub, and other established townships; the seamless integration of our corporate, residential, and hospitality facilities; the on-site presence of a sophisticated lifestyle mall; and accessibility via multiple road systems and the soon-to-be-completed MRT line,” said Tan Lee Koon, Managing Director of GuocoLand.
Damansara City, with a gross development value of RM2.5 billion, is a significant project within Malaysia’s Economic Transformation Programme. It’s recognized as a key element and driving force behind one of the fastest-growing business districts in Greater Kuala Lumpur, attracting strong and increasing interest from buyers and tenants across Southeast Asia.
The office spaces at Damansara City are raising the bar, not only within Damansara Heights and Greater Kuala Lumpur but also in the regional property market. Robust regional demand for both commercial and residential spaces is driven by Damansara City’s strategic location in Damansara Heights. Its office towers boast MSC-status readiness and comply with Green Building Index (GBI) Certification, Leadership in Energy & Environmental Design (LEED) Gold rating, and CONQUAS Quality Assessment for building construction.
The Hong Leong Group is the first of many prestigious brands relocating their headquarters to Damansara City. DC Mall, the soon-to-open lifestyle and dining destination within Damansara City, is also experiencing strong demand. It has already secured preliminary agreements for half its leasable space with well-known local and international brands.