Cyberview strengthens position, now fully controls largest landbank within Cyberjaya City Centre

• “This initiative will not only accelerate Cyberjaya’s transformation into a world-class tech and innovation ecosystem but also solidify Malaysia’s position as a key player in the global digital economy.”

KUALA LUMPUR (March 25): Cyberview Sdn Bhd said it has strengthened its position in the Cyberjaya City Centre development with full control of CSB Development Sdn Bhd.

Following the acquisition, Cyberview now controls 67 acres of freehold land — the largest landbank within the Cyberjaya City Centre — which will provide greater potential for long-term planning, strategic land utilisation and value creation, the company said in a statement.

Physical work on the Cyberjaya City Centre project could start as early as next year, with interim developments planned for activation around the MRT Cyberjaya City Centre Station in the meantime, Cyberview said.

“These early initiatives aim to enhance the area’s vibrancy and generate interest among prospective investors and businesses,” said the company mostly controlled by the Ministry of Finance.

CSB Development owns six parcels of land, five of which are in Dengkil and one in Cyberjaya, with a combined market value of RM365.5 million. Last week, Malaysian Resources Corp Bhd (KL:MRCB) announced it is selling its 70% stake in CSB Development to Cyberview for RM219.04 million in cash.

At the same time, MRCB is buying seven parcels of land in Cyberjaya and Dengkil from Cyberview for RM287.75 million.

CSB Development was initially a joint venture between Cyberview and MRCB in 2015 to develop 21.6 hectares of Cyberjaya City Centre’s first phase development, consisting commercial blocks, an integrated lifestyle and retail arena, serviced residential complexes and a convention centre. 

Cyberview said that it aims to establish Cyberjaya City Centre as a hub for businesses, multinational corporations and technology industries.

“This initiative will not only accelerate Cyberjaya’s transformation into a world-class tech and innovation ecosystem but also solidify Malaysia’s position as a key player in the global digital economy,” the company added.

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