Putrajaya Holdings Sdn Bhd, the master developer of the federal administrative capital of Putrajaya, recently revealed that it is close to selling en bloc a 12-storey office building in Precinct 3.

Chief executive officer Azlan Abdul Karim said two local parties and one foreign firm have offered to buy the entire block of 26 Boulevard, which is estimated to be at least RM200 million worth.  He added that a deal is likely to be concluded by the end of this quarter, or early next quarter.

The building, which uses double blazing glass as a key component, is designed to be energy-efficient as coating of the glass can absorb and then re-radiate the sun's heat.  Measuring 48,000 sqm in gross floor area, it received its certificate of fitness in January 2008, and is already 90 per cent tenanted.

Putrajaya Holdings made its first land sale to a foreign investor last July, when it sold a 0.61ha site in Precinct 3 to Hong Kong-incorporated TRW Group for RM23.2 million.  The company recently sold another piece of land with an estimated area of 1.2ha to a local company, Malaysia Land Properties Sdn Bhd - which counts Hong Kong property tycoon Tan Sri David Chiu as a major shareholder.

Moving forward, Putrajaya Holdings is set to sign another agreement in late February for its third land sale measuring 0.6ha to a local company backed by foreign owners.

Azlan remains optimistic and upbeat on the potential of Putrajaya's properties, noting: "Foreigners, like Chiu, are very bullish on the office space in Putrajaya. These property players believe that when they build the office lots here, people will eventually move from other more expensive cities...to Putrajaya."