ID :
19377
Sat, 09/13/2008 - 13:23
Auther :
Shortlink :
http://m.oananews.org//node/19377
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THE NOMAD GROUP SET TO ENTER INDONESIAN MARKET
KUALA LUMPUR, Sept 13 (Bernama) -- The Nomad Group Bhd is set to tap Indonesia, which offers the lowest property prices among the Asia Pacific countries, with the acquisition of Indonesia-based PT Concept Kreativ, the owner and operator of "iOffices" serviced offices in Jakarta for about RM3 million.
This 11,000 sq feet office is located within the World Trade Centre
Complex,
one of the most sought after and secured office complexes in Jakarta, said The
Nomad Group's chief executive officer Hew Thin Chay.
"Jakarta is a robust city, and demand for working spaces in strategic areas
is increasing," he said at the signing of the sale and purchase agreement
between the company and PT Concept Kreativ.
Also present was Jonny Karli, the director of PT Concept Kreativ.
Hew said his group would further strengthen its presence in other parts
of South East Asia with the opening of serviced offices in Bangkok and
Manila by year end.
The group is also looking at Cambodia and Laos for future
expansion.
"Once we have stabilised with at least 60-70 percent occupancy rate, we aim
to go to Middle East countries, India and China," he said.
Meanwhile, he said earnings were not expected to be "so good" for the
financial year ending Dec 31, 2008.
But next year, business would be more stabilised and profit will
start coming in, Hew said.
He said serviced offices took about 12 months to "mature" and it worked
under any economic conditions.
"In good times the rates may go up. They will pay more, in bad times the
rates goes down," he said.
Currently, The Nomad Group is the largest serviced office provider in
Malaysia with six serviced offices in the country. It also has another two
properties in Singapore and one in Vietnam.
The company targets the business travelers segment for its offices. They
can
save at least 40 to 50 percent cost by using serviced offices compared to
traditional office, Hew said.
This 11,000 sq feet office is located within the World Trade Centre
Complex,
one of the most sought after and secured office complexes in Jakarta, said The
Nomad Group's chief executive officer Hew Thin Chay.
"Jakarta is a robust city, and demand for working spaces in strategic areas
is increasing," he said at the signing of the sale and purchase agreement
between the company and PT Concept Kreativ.
Also present was Jonny Karli, the director of PT Concept Kreativ.
Hew said his group would further strengthen its presence in other parts
of South East Asia with the opening of serviced offices in Bangkok and
Manila by year end.
The group is also looking at Cambodia and Laos for future
expansion.
"Once we have stabilised with at least 60-70 percent occupancy rate, we aim
to go to Middle East countries, India and China," he said.
Meanwhile, he said earnings were not expected to be "so good" for the
financial year ending Dec 31, 2008.
But next year, business would be more stabilised and profit will
start coming in, Hew said.
He said serviced offices took about 12 months to "mature" and it worked
under any economic conditions.
"In good times the rates may go up. They will pay more, in bad times the
rates goes down," he said.
Currently, The Nomad Group is the largest serviced office provider in
Malaysia with six serviced offices in the country. It also has another two
properties in Singapore and one in Vietnam.
The company targets the business travelers segment for its offices. They
can
save at least 40 to 50 percent cost by using serviced offices compared to
traditional office, Hew said.
