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Monday, January 7, 2008

Titijaya fast becoming innovative developer

An artist's impression of the HP Mall to be developed in Klang by Titijaya Group

It will launch several new projects such as Subang Soho and Sentral Walk this year

The Titijaya Group is fast making a name for itself as an innovative property developer, shedding its previous image as merely a builder of traditional shop offices.

This year will see the group launching several new projects in Selangor that will include the Subang Soho in SS19, Subang Jaya, and Sentral Walk in Klang Sentral after the coming Chinese New Year.

It also has a 500-acre development in Sungai Kapar Indah and nearly 300 acres in Kapar Bestari, a joint venture project with Worldwide Holdings Bhd.

Group director Charmaine Lim Puay Fung is upbeat that its new line-ups would do as well as its previous developments.

The Sentral Walk will have a concept similar to The Street@ Curve in Damansara. There will be 80 units of three and four-storey hybrid/shop offices with dual frontage and a landscaped courtyard in the middle.

The ground and first floor will be retail lots while the office unit will be on the third floor. Prices are from RM988,000.

With 90% of the 220 units of three-storey Phase 1 shop offices sold, it is obvious that there is a strong demand for retail units in the RM12mil Klang Sentral transportation hub.

The Phase 1 units were priced from RM788,000 to over RM1mil. There will also be a proposed hypermarket on a six-acre land.

Meanwhile, the1.6-acre, freehold 19-storey Subang Soho with RM90mil gross development value will cater to young, single professionals who yearn to have their own “working pad” that is within easy reach of many amenities.

Again, Titijaya has researched people's lifestyle and feels that the time is right to launch 448 Soho units despite the rising number of apartments in the nearby Subang Parade stretch.

Subang Soho's special features include a sky club, rooftop garden, broadband connectivity, 16ft-high double-volume concept and fully furnished units that include air-conditioners.

Unit sizes are from 560 to 1,084 sq ft and priced around RM350 per sq ft (priced from RM198,800). There will be two wings.

In Sungai Kapar Indah, Titijaya will soon be selling 80 units of houses completed by Guthrie previously.

These include two-storey link houses priced from RM178,000 for the 20ft x 65ft type and from RM186,000 for the 20ft x 70ft type.

Realising a demand for single-storey terrace houses in the area, the company is going to launch some 20ft x 65ft, single-storey terrace houses priced from RM160,000.

Other projects in its stable include:

Harbour Point This retail and office development on 3.4 acres of leasehold land in the town centre in Port Klang was launched recently. About 60% of the 21 units of three-storey shop offices and priced from RM799,000 have been sold.

This project is in a good location as it is between the main thoroughfare of Pesiaran Raja Muda Musa and Jalan Depoh.

There will also be a neighbourhood mall called HP Mall. The anchor tenant will be Giant that will be taking up 30,000 sq ft of space.

The retail lots from 250 to 800 sq ft will be priced from RM143,000. There will be 80 covered parking bays as well as an open car park.

Titijaya is keeping 30 of the 100 retail lots. About 90% of the saleable lots have been sold.

Titijaya has done its research well as it knows there is a strong demand for modern retail lots with very few sub sales from existing retail units in the area. Most of the buyers are also up-graders.

Tiara Square in UEP Industrial Park in USJ12. All 94 units of two-storey shop offices have been sold and completed. Certificate of Fitness for Occupation (CF) is being handed over to purchasers. The value has appreciated by 20%.

It is also building the RM20mil Chinese Cultural Centre that would be handed over to the Selangor Government to operate.

It will be a one-stop centre for all things Chinese such as Chinese cuisine, Chinese medical treatment, and Chinese products.

First Subang This 1.5-acre freehold mixed development in the SS15 commercial centre in Subang Jaya, Selangor, comprises two office towers on top a three-level retail podium.

About 80% of the first tower called the Southern Tower (11 floors) has been sold since its launch a year ago. Those who bought the 500 to 1,270 sq ft units are mainly up-graders.

The second tower called Northern Tower (10 floors) is not opened for sale yet. Both towers are under construction.

E-Tiara (next to Carrefour/Subang Parade) is fully sold and completed. With demand continuing to exceed supply for such quality apartments in the area, rentals are expected to remain firm.

A studio unit priced around RM150,000 is said to fetch RM1,200 rental a month. It is about 70% occupied.

The Tiaraville apartment next to E-Tiara is also sold and would be handed over in May.

By The Star (by S.C.Cheah)

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