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KUALA LUMPUR: TSI Holdings Sdn Bhd's wholesale centre development GM Klang has seen its latest launch fully taken up since September.
GM Klang is touted to be the largest wholesale centre in Southeast Asia. The project with a gross development value of about RM1.6 billion spans over 14.5 acres of freehold commercial land in Bandar Botanic, Klang.
TSI Holdings managing director Datuk Lim Seng Kok said the 550 units launched in September at prices ranging from RM990 to RM1,500 psf have been fully sold. The units with sizes ranging from 200 sq ft to 1,000 sq ft are among a total of 720 units in Phase 2 of the project housed in a 10-storey building, including five levels of car park space. The remaining units will be kept for lease.
The developer aims to complete Phase 2 by the second half of 2012. TSI had earlier developed Phase 1 which is for lease only. It comprised 330 units with a total gross area of 130,000 sq ft. All the units have been tenanted. "Most of the buyers for Phase 2 are current tenants of Phase 1," Lim added.
He explained that Phase 1 is a temporary structure and designed to last eight to ten years as it will be demolished to pave way for Phase 4, once Phase 2 and 3 are completed. GM Klang is to be developed over four phases in 10 years.
On its upcoming projects, the developer is planning to unveil its Casa Tropika @ Puchong development early next year. The project comprises two leasehold parcels located in Batu 14, Puchong — one residential parcel and another commercial — measuring seven acres in total. Scheduled for soft launch first would be the residential component, a RM160 million condominium project offering 520 units in three blocks. Targeted at young families, the average built-up of a condominium unit is 1,000 sq ft with facilities designed to cater to young and growing children.
These will be tagged at about RM280 psf.
Plans for the commercial site are for 12 units of 3-storey shop office lots, which the developer plans to create an education hub targeted at education-related businesses and services.
"We have not decided whether to sell the shop offices... this project is surrounded by many schools. We see the potential to develop it around an education theme and maybe turn it into a place where students can frequent before and after school," said Lim.
The specialist contractor with businesses in marketing, engineering, construction and property development began its first property development in 2000 in Taman Sg Karang, Kuantan, where it built more than 100 units of 1-storey terraced homes and shop lots.
The company then developed D'Alamanda@Pudu Impian, Queen's Avenue, Vila Shoplex, Vila Tropila and Plaza GM in Kuala Lumpur as well as Bukit Permai Mas in Selangor.
With the passing of its executive chairman Tan Sri Ibrahim Mohamed in June, his wife Puan Sri Hamidah Abdullah has been appointed non-executive chairman. According to Lim, business is as usual with the couple's children also actively involved in the business.
TSI also owns an undeveloped 40-acre land in Kuantan, Pahang and five acres of leasehold land in Kepong, in which it hopes to develop light industrial lots and SoHos. This parcel is located next to its residential project, First Residence @ Kepong Baru which is fully sold. It plans to launch the light industrial component, comprising 15 units of 3-storey lots next year targeted at small-medium enterprises and the SoHos in 2012.
GM Klang is touted to be the largest wholesale centre in Southeast Asia. The project with a gross development value of about RM1.6 billion spans over 14.5 acres of freehold commercial land in Bandar Botanic, Klang.
TSI Holdings managing director Datuk Lim Seng Kok said the 550 units launched in September at prices ranging from RM990 to RM1,500 psf have been fully sold. The units with sizes ranging from 200 sq ft to 1,000 sq ft are among a total of 720 units in Phase 2 of the project housed in a 10-storey building, including five levels of car park space. The remaining units will be kept for lease.
The developer aims to complete Phase 2 by the second half of 2012. TSI had earlier developed Phase 1 which is for lease only. It comprised 330 units with a total gross area of 130,000 sq ft. All the units have been tenanted. "Most of the buyers for Phase 2 are current tenants of Phase 1," Lim added.He explained that Phase 1 is a temporary structure and designed to last eight to ten years as it will be demolished to pave way for Phase 4, once Phase 2 and 3 are completed. GM Klang is to be developed over four phases in 10 years.
On its upcoming projects, the developer is planning to unveil its Casa Tropika @ Puchong development early next year. The project comprises two leasehold parcels located in Batu 14, Puchong — one residential parcel and another commercial — measuring seven acres in total. Scheduled for soft launch first would be the residential component, a RM160 million condominium project offering 520 units in three blocks. Targeted at young families, the average built-up of a condominium unit is 1,000 sq ft with facilities designed to cater to young and growing children.
These will be tagged at about RM280 psf.
Plans for the commercial site are for 12 units of 3-storey shop office lots, which the developer plans to create an education hub targeted at education-related businesses and services.
"We have not decided whether to sell the shop offices... this project is surrounded by many schools. We see the potential to develop it around an education theme and maybe turn it into a place where students can frequent before and after school," said Lim.
The specialist contractor with businesses in marketing, engineering, construction and property development began its first property development in 2000 in Taman Sg Karang, Kuantan, where it built more than 100 units of 1-storey terraced homes and shop lots.
The company then developed D'Alamanda@Pudu Impian, Queen's Avenue, Vila Shoplex, Vila Tropila and Plaza GM in Kuala Lumpur as well as Bukit Permai Mas in Selangor.
With the passing of its executive chairman Tan Sri Ibrahim Mohamed in June, his wife Puan Sri Hamidah Abdullah has been appointed non-executive chairman. According to Lim, business is as usual with the couple's children also actively involved in the business.
TSI also owns an undeveloped 40-acre land in Kuantan, Pahang and five acres of leasehold land in Kepong, in which it hopes to develop light industrial lots and SoHos. This parcel is located next to its residential project, First Residence @ Kepong Baru which is fully sold. It plans to launch the light industrial component, comprising 15 units of 3-storey lots next year targeted at small-medium enterprises and the SoHos in 2012.
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