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Saturday, March 26, 2011

Naza TTDI aims to be top 10 property player in 3 years

PROPERTY developer Naza TTDI Sdn Bhd is aiming to be among the top 10 property players in the country in three years' time and the No. 1 developer in five years' time.

Group managing director SM Faliq SM Nasimuddin says the group is up for the challenge and believe the goals are achievable based on a few factors.

“With major high impact projects in hand, more merger and acquisition in the pipeline and the strength of our workforce, the goals are achievable,” he says in an e-mail reply.

SM Faliq SM Nasimuddin ... ‘Our market is well diversified.’

SM Faliq says the group plans to focus on its high impact projects such as the Platinum Park, and targets a turnover of RM1bil this year and RM2bil within the next three years.

“We will continue to improve on our deliverables that includes product innovation, quality and customer service,” he says.

Group turnover in 2010 was RM635mil and to achieve the RM1bil turnover target this year, 18 more property launches will be carried out with gross development value (GDV) of RM1.6bil.

“We are targeting RM100mil net profit this year and RM200mil within the next three years. We have a number of exciting launches this year that begin with the launch of TTDI Adina, a mix development in Section 13, Shah Alam,” he says.

The new launches will also comprise both residential and commercial developments such as TTDI Grove in Kajang, TTDI Alam Impian in Shah Alam, TTDI Dualis in Puchong as well as a 35-storey tower at Jalan Tun Razak, Kuala Lumpur.

“Our market is well diversified. We cater to various market segments with our high-end boutique, township and commercial developments,” he says.

SM Faliq says Naza TTDI has also established an associate construction company Naza TTDI Construction to complement the former's business and offer complete construction services, specialising in the fields of building, civil engineering and infrastructure works.

“Our diversification into construction will be another avenue for growth and within these three years, we hope to build an entity that will be well respected for its own portfolio and achievements,” he says.

He adds that the group is looking at expanding its land bank (now reaching over 400 acres) locally and regionally.

“We are also looking at going into our neighbouring countries with high impact, high visibility projects that hopefully will provide us with the necessary profile to propel us into the global property market,' he says, adding that among the countries the group is eyeing are Singapore, Vietnam, Indonesia and China.

On the outlook of property market this year, SM Faliq says Naza TTDI is confident that the local property market is sustainable and will continue to be so as buying activities are backed by economic fundamentals and genuine purchasers.

“But having said so, certain fundamentals like the attractive interest rates have to remain encouraging for the purchasers,” he says.

He adds that the Government's Economic Transformation Programme (ETP) has shown concrete and quantifiable results in a relatively short time, and the group is excited about the ETP.

“It is a long-term programme for Malaysia to become a high-income, high-value economy and execution is crucial. We welcome the initiative for Greater KL to be a National Key Economic Area as this will boost demand for properties,” he says.

SM Faliq says NAZA TTDI also lauds the Government's commitment to increase and improve road connectivity and the public transportation system. “While our projects already enjoy excellent accessibility, any additional connectivity will bring added convenience for residents and tenants, and has the potential to increase property values. There are in fact many Malaysian developers who are capable of developing properties of international standard. In this regard, NAZA TTDI is one of the top privatelyowned companies with the capability and potential to successfully develop mega projects and also niche boutique projects with quality comparable to international standards,” he says.

By The Star

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