TSA Land ready to launch maiden project

KUALA Lumpur’s Melawati area has been a property hot spot for the last decade, with prices soaring and new developments from major developers such as Sime Darby Property Bhd, Sunway Bhd and Nadayu Properties Bhd.

Entering the market is TSA Land Sdn Bhd. Its maiden freehold project, MM Residency, is located in Taman Melawati and has a gross development value of RM483 million.

TSA Land was incorporated in 2009. Its management team is made up of its three directors — managing director Jimmy Yang, legal and finance director Chang Kah Ling and marketing director Lee Choong Choy.

Yang was previously the deputy CEO of Bio Osmo Bhd, which is involved in the processing, manufacturing and sale of drinking water. He also has 10 years of experience in the property development industry, having worked on projects under Y.O.M. Development Sdn Bhd, his family’s company. The projects include Taman Mewah in Kuala Krau, Pahang, and Taman Bukit Bendara in Mentakab, Pahang.

Chang has been a practising lawyer for 22 years. She is now a director and shareholder of The 19 USJ City Mall in USJ 19, Subang Jaya, Selangor.

As for Lee, he was the alternate director to Yang in Bio Osmo. In the earlier part of his career, he was involved in the automobile trading business. Currently, he is also involved in the business of supplying building and construction materials to developers.

Revitalising the land

The parcel on which MM Residency is sited was acquired in 2009. It was previously occupied by K Club, a private clubhouse.

MM Residency sits on 3.593 acres and will comprise three residential blocks on a 6-storey commercial and parking podium. Facilities will include a swimming pool, gymnasium, jogging track, yoga room, badminton courts, multipurpose room and barbecue pit.

Chang says the launch is scheduled for end-July and that MM stands for Mega Melawati.

“We will have a serviced apartment block called Block R1, and two SoHo (small office/home office) blocks called Blocks R2 and R3. In total, there will be 420 residential units and 13 two- and three-storey retail units, with a total space of 60,000 sq ft. We are keeping most of the retail units because we want to control the tenancy and to complement Melawati Mall,” she says.

The mall, which will open next year, is 500m from MM Residency and is a joint-venture project between Sime Darby Property and CapitaLand Mall Asia. Melawati Mall has a net lettable area of 620,000 sq ft, with 250 retail outlets. Its anchor tenants will include Village Grocer and GSC Cinema, while other tenants are Fitness First, senQ, Daiso and MPH Bookstores.

Chang reveals that there are plans to sell Block R1 en bloc to a group of Macau businessmen.

“The Macau businessmen love the greenery and environment in Taman Melawati, and their interest was made known to us before we started the development,” she explains.

The 25-storey Block R1 will offer 81 duplex units, with built-ups of above 2,000 sq ft each. The units are priced from RM2 million.

Meanwhile, the 17-storey Block R3 will be launched in July with 171 SoHo and duplex units for sale. It is currently 80% booked, says Chang. The units will have built-ups of 450 to 1,723 sq ft, with a starting price of RM450,000, or between RM800 and RM950 psf. Each unit will come with a water heater, air conditioner and kitchen cabinets. Half of the interested buyers are Melawati residents and mostly first-time homebuyers, she adds.

The 23-storey Block R2 is scheduled to be launched by the end of the year. It will have 168 units, with built-ups of 450 to 1,723 sq ft.

“We plan to sell fully-furnished units in Block R2, with furniture and electrical appliances such as washing machines and dryers. We see a need for this in Melawati,” says Chang.

She believes the project will attract buyers due to its close proximity to the city and to green open spaces such as the Klang Gates Quartz Ridge and Bukit Tabur. It is accessible via the Kuala Lumpur Middle Ring Road 2, Duta-Ulu Kelang Expressway, Ampang-Kuala Lumpur Elevated Highway and Kuala Lumpur-
Karak Expressway.

A new clubhouse

Located next to the MM Residency development is a 3.5-acre parcel that TSA Land also bought in 2009. About one acre will be used to build a new clubhouse, with a total space of 60,000 sq ft. MM Residency’s residents will be given membership in the club.

“We have purchased the licence for K Club and it is now a subsidiary of TSA Land,” Chang explains. “The decision to build a new clubhouse is in line with our vision of giving back to Taman Melawati residents … we are going to build a modern one. We haven’t named it yet.”

The clubhouse will offer several facilities, such as a swimming pool, restaurants, game room, tennis court and synthetic ice skating rink, and will charge a membership fee and a monthly subscription fee. Membership will also be opened to Taman Melawati residents.

Chang reveals that besides providing such facilities to MM Residency’s residents, the company is also looking to revitalise amenities in the neighbourhood for the benefit of all those living in Taman Melawati.

“We are working closely with the authorities to turn the adjoining forest into an eco-park. There are some abandoned camping areas and chalets, and we are thinking of reviving them … we plan to have a flying fox ride, jogging and bicycle tracks as well as a campsite. These will help our property stand out,” she says.

TSA Land is in talks with overseas adventure companies to start their operations there.

On the remaining undeveloped area, TSA Land has yet to decide on what to build.

This article first appeared in City & Country, a pullout of The Edge Malaysia Weekly, on July 11, 2016. Subscribe here for your personal copy.