BY GERYL OGILVY
Abang Johari signing a plaque at the launch of the Hikmah Exchange project.
KUCHING: The over RM300mil Hikmah Exchange, to become the first smart building in Sarawak when completed in 2020, will be listed under a real estate investment trust (REIT) to create investment opportunities.
Sarawak Chief Minister Datuk Amar Abang Johari Tun Openg said similar models would be considered for future property projects across the state starting with the Darul Hana development in Petra Jaya here.
He added that the 22-storey Hikmah Exchange, which will be divided into three components – offices, convention centre and commercial outlets, has already secured anchor tenants.
He was also in discussion with Prime Minister Datuk Seri Najib Tun Razak on the prospect of moving all Federal government agencies to the building.
“The Hikmah Exchange would become a landmark to symbolise the Islamic and Malay communities in the state, as well as a platform to strengthen the local economy and increase value of Malay-owned land in the city,” he said at the launch of the project on Friday.
Abang Johari explained there was a need for the government to come out with measures to help the Malays preserve their land, mostly in the urban areas.
He said while the state government had been issuing native customary rights (NCR) land titles to other natives, the Malay land rights should not be overlooked.
“I want to be fair to all races. We do not want land belonging to the Malays to simply disappear,” he continued.
The Hikmah Exchange project, located at the Malay-dominant Satok area at Jalan Haji Taha, is owned by Sarawak Bumiputera Property Foundation and developed by Permodalan Satok Bhd.
Abang Johari said the new economic centre would be wholly-owned by the Malays and that investors should not transfer their assets to others in the future.
He added that the foundation is obligated to play its role to defend the interests of Muslims in the state and that Hikmah Exchange is part of the state government’s effort to defend the property rights of the Malays.
Last year, Najib and former chief minister Tan Sri Adenan Satem jointly performed the earth-breaking ceremony of the project.
“It will become the first commercial building that is fully digitalised in the state. It will be a smart building equipped with fast Internet connectivity and e-switch system,” Abang Johari said.
The Hikmah Exchange, built on a 1.48ha site, would have two 13-storey office blocks, banquet hall, meeting rooms, gallery and multi-storey carpark with over 1,000 parking bays.
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