PROPERTY DIVISION

Damansara Assets Sdn Bhd

PROPERTY DIVISION| Damansara Assets Sdn Bhd

Damansara Assets Sdn. Bhd. (DASB), a wholly owned subsidiary of JCorp, specializes in the segments of commercial real estate development and building management – particularly shopping centres and office towers. Through its commercial real estate investment, DASB owns and monitors a portfolio of property development, namely Galleria @ Kotaraya, and Taman Dahlia Business Centre.

As at 31 December 2017, DASB manages 205,000 square metres of leased space worth almost RM2 billion located in strategic locations in Klang Valley and Johor Bahru with an average occupancy rate of 89%. There are 1,528 tenants comprising various types of companies such as corporate bodies, government agencies, financial institutions, professional and private companies as well as small traders. Most of them are Bumiputera companies. 

DASB not only manages its own buildings namely Galleria@Kotaraya and Pusat Perniagaan Taman Dahlia but also managing Al-Salām REIT's  buildings through its subsidiary, Synergy Mall Management Sdn Bhd The buildings consist of KOMTAR JBCC shopping centre and Pasaraya Komuniti @mart Kempas, while office buildings include Menara Komtar and Malaysian College of Hospitality & Management. Synergy Mall Management Sdn Bhd received Best Shopping Centre award from the Ministry of Tourism Malaysia for KOMTAR JBCC in the Stand – Alone Shopping Centre category during the 20th Malaysia Tourism Awards 2016-2017.
 
In year 2017, DASB directly involved in the development planning of B5 Johor Street Market in Tampoi owned by Johor Land Berhad. B5 Johor Street Market is a Centralised Retail Tourism concept inspired by the Queen Victoria Market which is a tourist attraction in Melbourne, Australia. However, the concept is applied in a local context as reminiscence of the Old Johor heritage by making it an iconic location to locals and tourists in Johor Bahru. Hence, the design, surroundings and atmosphere are to reflect Johor's charm.
 
It has five components including Retail Bazaar, Food & Beverage, Box Park, Food Truck and Culture & Arts. This project is the first of its kind in Malaysia and is expected to be completed by the end of 2019. The B5 Johor Street Market project has also been the Johor State Government Budget Touch Point of 2018. Throughout the year 2017, various activities were undertaken by DASB to further strengthen the building management business.
 
In order to strengthen the building management system which emphasises on continuous quality work practices, DASB has successfully received recognition from SIRIM to upgrade the certification from ISO 9001: 2008 to ISO 9001: 2015. SIRIM QAS International Sdn Bhd has conducted Surveillance Audit on 29 and 30 November 2017.