Mainstay Development Sdn Bhd today unveiled its flagship development in the premium address of Section U8, Bukit Jelutong. Space U8 is the first development of its kind in Selangor to adopt the SUMO concept - Shop Unit, Mall Office.

Space U8 was officially launched at a ceremony attended by Yang Bhg. Datuk Bandar Shah Alam Tuan Haji Mazalan B. Md. Noor. He also witnessed the signing of an agreement between YM Raja Mohd Azmi Raja Razali, chairman of Mainstay Development Sdn Bhd and YBhg. Datuk Kamaruzaman Che Mat, managing director of Bank Kerjasama Rakyat Malaysia Berhad.

Raja Azmi said, “We are confident that SUMO concept in Space U8 will be a huge success attracting a wide range of investors. We also appreciate the vote of confidence from YBhg. Datuk Kamaruzaman Che Mat and his team at Bank Rakyat, as Space U8 is our first property venture.”

The project, which is scheduled for completion in December 2009, has a gross development value of RM220 million, including an anchor tenant building with a total of 84,000 sq ft spreading over four floors. Mainstay and Bank Rakyat have arranged for up to 80 per cent financing for the retail and office units and other attractive financial packages with special rates and easy approvals.