Wisma Technip, KLCC

Wisma Technip located on Jalan Tun Razak, is entirely owned by Technip Geoproduction, part of the engineering group, TECHNIP, which is based in Paris. It has a built-up area of 3,664 sf and consists of a net lettable area of 233,021 sf. Its sole tenant is Technip Geoproduction. Located within the Golden Triangle of KL, It is next to Bintang Goldhill and just a stone’s throw away from The Forum, and Menara AA. This makes traveling to work an ease in the Golden Triangle.

Wisma Technip is easily accessible as it is located in the heart of the city. Jalan Tun Razak is included in the Kuala Lumpur Middle Ring Road 1. Being one of the most used roads in Kuala Lumpur, the disadvantage includes traffic congestion during peak hours and school holidays. Although possible, staff of Technip Geoproduction will find it a hassle to travel to other places. Within the vicinity, clinics, hotels and eateries are easily available.

Property Details

• Name: Wisma Technip
• Address: 241, Jalan Tun Razak, 50400 Kuala Lumpur
• Completion Date: 1994
• Type: Office Building
• Tenure: Freehold
• No. of Blocks: 1
• No. of Storey: 12
• Built-up: 3,664 sf
• Launch Price: RM112,500,000
• Subsale Price: RM146,500,000
• Rental: RM5.00 psf

Facilities

• 3 levels of car park
• Mezzanine floor

Analysis

Despite the traffic issue along the Kuching Bypass, development around the city area hasn’t ceased; development would be slowed down at most after the area’s potential is maximized due to increasing demands of office towers. This too, will affect the living cost in the Golden Triangle. However, traditional warungs and kopitiams are available, though scarce. Evaluated at year end in 2009, Wisma Technip is estimated to be valued at RM146.5 mil, an increase of 30% when compared to its launch price about 20 years ago. This gives a strong conclusion on the stability in terms of property value in the Golden Triangle, KLCC.