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Tuesday, January 22, 2008

TTDI selling tower to Felda

KUALA LUMPUR: TTDI Development Sdn Bhd (a member of the Naza group) will sell a 50-storey office tower to the Federal Land Development Authority (Felda) for RM640.7mil.

The proposed tower to be called Menara Felda is the tallest of seven iconic towers in TTDI Development’s RM3.5bil Platinum Park, a world-class high-end integrated residential and commercial development in the prestigious Kuala Lumpur City Centre (KLCC).

Deputy Prime Minister Datuk Seri Najib Tun Razak, who will perform the ground-breaking ceremony at the project site at the corner of Jalan Stonor and Jalan Kuda today, will also witness the signing of an agreement between TTDI Development and Felda on Menara Felda.

From left: Datuk Johan Ariffin, Naza group chairman and CEO Tan Sri S.M. Nasimuddin S. M Amin and Hud Abu Bakar, the project's architect and principal of RSP Akitek

Menara Felda will have a nett lettable area of 689,000 sq ft and a floor plate of 15,000 sq ft. It will have, among others, a large banquet hall that can seat 1,500 people at the basement level.

Platinum Park, sited on a 3.68ha freehold land, is surrounded by new high-end condominiums like The Avare, Binjai, Stonor Park and Suria Stonor.

It will be the biggest luxury development to be undertaken by a bumiputra company in the vicinity of the Petronas Twin Towers and Suria KLCC shopping centre.

Platinum Park comprises three high-end condos with a total of 287 units, three Grade A office towers and a five-star serviced apartment tower.

Set within a lush landscaped “haven with a city” concept around a RM20mil, private 1.5-acre park, the project offers residents a chance to live, work and play within an exclusive domain.

A “necklace” of niche lifestyle retail offerings will complement this one-of-its kind development in the capital. The outlets will feature products and services of international appeal never before seen in Kuala Lumpur.

The super condominiums will be priced from about RM2,000 to RM2,500 per sq ft with sizes ranging from 2,200 to 5,500 sq ft and penthouses of 8,000 to 13,000 sq ft. There will be a 30-storey condominium tower with 123 units and two 42-storey condominium towers with a total 164 units. The first condominium block would be launched later this year or early next year.

Platinum Park will be developed in five phases over the next eight years.

TTDI Development group managing director Datuk Johan Ariffin said that besides its prime location, Platinum Park’s other unique selling points were its size and concept.

Apart from KLCC, there were no other developments either within or on the fringes of the KLCC with the size of Platinum Park, he said at the project's media preview yesterday.

“This size (3.68ha) gives us the opportunity to create something iconic. We were able to put together 10 bungalow lots over the past four to five years and create a seamlessly integrated development of seven towers.

”Current condominium developments in the KLCC area all comprise either one or two blocks. Ours is the only one that has an integrated concept.

”What Hyde Park is to London park-front apartments and Central Park is to New York condominiums, so it shall be with our Platinum Park properties. The potential is tremendous,” Johan said.

By The Star (by S.C. Cheah)

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