#Exclusive* Naza TTDI sells office tower for RM60 million

SHAH ALAM: Naza TTDI Sdn Bhd, the property arm of Naza Group of Companies has sold an office tower en bloc at its Laman Seri Business Park in Shah Alam for RM60 million.

Group managing director S M Faliq S M Nasimuddin (pictured) told theedgeproperty.com that the 12-storey office block with a gross floor area of 130,000 sq ft was sold to Al-Wahida Marketing Sdn Bhd last month.

The developer’s last en bloc sale was a 30-storey office building in Platinum Park in the KLCC area in Kuala Lumpur, sold to a government-linked company, the details of which the developer declined to reveal. Tabung Haji is reportedly believed to be the buyer.

Located directly opposite the residential enclave of Laman Seri, the RM131 million Laman Seri Business Park was launched in March 2008. It sits on 8.245 acres of leasehold land in Section 13, Shah Alam, and comprises the office tower, six blocks of 4- to 5-storey shop offices that feature dual frontages and handicapped-friendly layout.

The 46 units of shopoffices face the main and central piazza. These units, which were completed 18 months ahead of schedule were handed over last year-end. The development also offers 1,000 parking bays.

Laman Seri Business Park’s most distinct feature is the centrally located 37,000 sq ft landscaped piazzas with lush greenery and water features. The project was awarded the Cityscape Asia Real Estate Awards 2008 under the Future Commercial Development category.

Naza TTDI is currently undertaking a RM15 billion development project, which comprises the Matrade Centre, residences, offices, a shopping mall and a hotel, on a 65-acre plot of land in Jalan Duta, under a privatisation deal with the government.

Naza TTDI known for its residential township Taman Tun Dr Ismail in Kuala Lumpur is also developing the RM4 billion Platinum Park, a high-end integrated residential and commercial development in the KLCC area in Kuala Lumpur. It is also developing The Valley TTDI Ampang project, which consists of 66 link villas, 56 bungalows and 12 exclusive bungalows on a 35.5-acre leasehold land. It is scheduled for completion in July. About 90% of the project has been taken up.