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Naza TTDI to launch RM1.4b worth of projects in 2H

SM Faliq SM NasimuddinKUALA LUMPUR (July 18): Naza TTDI Sdn Bhd plans to launch projects worth RM1.4 billion in the second half of 2016, as it expects the appetite of property hunters for good value property investments to rise, following Bank Negara Malaysia’s surprise interest rate cut.

BNM had lowered the benchmark Overnight Policy Rate (OPR) last week, from 3.25% to 3.0%.

“Malaysia’s property market is still resilient. TTDI Segaris’ highly successful launch is a testament of the market’s healthy appetite for properties in well-established neighbourhoods,” said Naza TTDI deputy executive chairman and group managing director SM Faliq SM Nasimuddin (pictured).

“The Naza TTDI brand which is synonymous with Taman Tun Dr Ismail, continues to provide customers with high confidence, where value and quality are concerned,” he said in a statement.

The company added that TTDI Alam Impian in Shah Alam is set to experience a new level of urbanity, with its first high rise residences joining the neighbourhood soon. The official launch of TTDI Olivina is slated for August 2016.

Naza TTDI said it understands that the market’s preference for differentiated property developments is at an all-time high, due to the lack lustre market conditions.

“The relatively weak market sentiments have pushed property buyers and investors to be more selective in their purchases. Properties with good rental yield and wide accessibility are in high demand. We see this as a healthy progression for the Malaysian property market, for both property purchasers and the developers,” said SM Faliq.

Naza TTDI said it is in the process of developing another 4.3 acres of land in KL Metropolis at Jalan Duta, with a gross development value of RM1.2 billion, comprising two commercial towers and one high-end serviced residential block.

“We have secured one en bloc buyer for one of the commercial towers, worth RM300 million, and we are in the process of securing the other one before year end,” added SM Faliq.

Meanwhile, the 616 units of serviced residences centrally located at Jalan Duta, will be launched in November this year. These luxury residences are flanked by affluent neighbourhoods such as Damansara Heights, Bangsar, Mont’Kiara and Sri Hartamas. — theedgemarkets.com

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