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KUALA LUMPUR: Developer UDA Holdings Bhd is selling the shop office blocks at its Sinaran TTDI project in Taman Tun Dr Ismail (TTDI) by tender.
The tender for the six blocks of 5-storey strata shop offices will close on Mar 24. The shop offices are part of the Sinaran TTDI serviced apartment development along Jalan Tun Mohd Fuad 3. The development sits on a 2.3-acre freehold site and is currently at the tail end of construction with completion in June.
According to the executive summary for the tender exercise, interested bidders can either tender for one block or all six blocks of the shop offices. The units, located below the serviced condominiums have reserved prices starting from RM8.1 million to RM8.6 million per block with net floor areas from 9,346 to 9,534 sq ft.
UDA Holdings head of corporate services division Abdul Rashid Atan told The Edge Financial Daily that it is the company's sales strategy to sell the retail units by tender.
“It is our sales strategy taking into consideration the location of the properties. We also want to provide equal opportunities for the public to own one of the last commercial units in the prestigious TTDI,” he said.
The 249 serviced apartment units in a 30-storey tower have been sold. Unit sizes range from 1,128 sq ft for the 2-bedroom units to 5,156 sq ft for 4+1 bedroom units. There are also four 5-bedroom penthouses with built-up areas of over 5,000 sq ft. The residential component has a gross development value of RM160 million with units that were sold for between RM387,000 and RM1.5 million during its launch in July 2006.
Asked to comment on a recent report that Sinaran TTDI along with the fire station and TTDI market having been earmarked for possible land acquisition for the mass rapid transit (MRT) project, Abdul Rashid said: “The Sinaran TTDI footprint is fully developed with vacant possession expected in June 2011. It is therefore unlikely for its land to be acquired.”
He also said UDA has not been approached by the relevant parties about the matter.
According to a report by The Edge earlier this month, over 650 individual plots of land belonging to individual homeowners, government-linked entities and corporations in Kuala Lumpur are likely to be impacted by the proposed MRT project. Other areas that may be affected by land acquisition include well-known residential developments such as the Bangsar Puteri and Menara Bangsar condominiums, commercial developments like the St Regis Hotel and Residences, as well as the Westin Hotel. Almost completed and proposed projects such as Sinaran TTDI, the Kuala Lumpur International Financial District and Warisan Merdeka may also be affected.
The report quoted real estate adviser Zerin Properties as saying that retail icons such as Starhill, Lot 10 and Pavilion in Bukit Bintang as well as historical landmarks such as the National Museum, Victoria Institution, Stadium Negara and even the Bukit Kiara Muslim cemetery may have some part of their land compulsorily acquired.
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