EMKAY Group targets to own seven office buildings in the next five years, said chairman Tan Sri Mustapha Kamal Abu Bakar.
Mustapha said one of the company's future projects will be located within Kuala Lumpur's central business district, details of which will be released when everything is finalised.
His son Ahmad Khalif, who is Emkay Group's chief executive officer, said its new thrust is to own and manage assets and this will be enhanced by building relationship with stakeholders (tenants).
"What we are doing is taking offices out of the hustle and bustle of the city centre and locating them in a place where people can live, work and play.
Mustapha and Ahmad Khalif spoke at the celebration of the former's 30 years of involvement in the Malaysian property development sector, here, yesterday.
Mustapha symbolically pressed the button at the site of the group's third office development project called Mercu Mustapha Kamal in here.
Due for completion in November 2016, Mercu will be the third office building project that Emkay will fully own and manage after Wisma Mustapha Kamal in Cyberjaya and Menara Mustapha Kamal in Damansara Perdana. All these high-end commercial properties are Grade A office towers.
Mercu will be a crown jewel in the group's collection as it will be one of Klang Valley's top-end office buildings pre-certified with a Green Building Index Gold rating and MSC Cybercentre-compliant upon completion.
The total gross development value for Mercu is estimated at RM374 million.
To date, Emkay has developed more than RM15 billion of properties in Selangor, Perak and Kedah.
Mustapha said the group's new strategy of owning assets is to accumulate sustainable income from rental and management.
He is confident that his investments in such properties will generate seven per cent in net returns, on top of the buildings' future capital appreciation.
Mustapha is bullish about Mercu as the project is located at the tail-end of Petaling Jaya and is surrounded by mature residential and commercial developments in a part of the Klang Valley where the population is considered wealthy.