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Thursday, June 4, 2009

Naza TTDI to launch two new projects

SM Faliq SM Nasimuddin posing with a replica project of The Valley TTDI.

SHAH ALAM: Property developer Naza TTDI Sdn Bhd’s current unbilled sales of RM1.5bil will sustain the company for the next three to four years.

Group managing director SM Faliq SM Nasimuddin said that besides the launch of The Valley TTDI, the company would be launching two new projects in Kajang and Shah Alam this year.

The Valley TTDI in Ampang is an upmarket, exclusive residential development targeted at middle and upper end buyers seeking a premium green address in Ampang.

With a gross development value (GDV) of RM393mil, the project comprises double-storey linked villas and bungalows with prices starting from RM2.5mil.

“We managed to sell about 50% of the units during our recent soft launch. I believe if you continue to have a good track record and reputation, buyers will buy as they feel confident with the company and the products offered,” he said, adding that last year the company managed to chalk up sales of RM239mil.

Faliq said most of the buyers were locals and the company showcased the project in Singapore last month and would be going to Beijing later this month to attract more foreign buyers.

The TTDI Kajang will have a GDV of RM339mil while the GDV for TTDI Alam Impian is RM1bil. Both TTDI Kajang and TTDI Alam Impian targeted the middle-income group, he said.

Other ongoing property projects by Naza TTDI include Laman Seri Business Park (GDV of RM131mil), Laman Seri Business Suites (RM51mil) and Jayamas II (RM25mil) in Shah Alam, the 38-storey Platinum Park (RM466mil) and Menara Felda (RM640mil).

“We also have about 480 acres across the Klang Valley for our future developments. Though the size may be small, the locations of our land are quite strategic,” Faliq said.

To woo more buyers, Faliq said the company was teaming up with banks to provide more attractive loan packages such as having schemes like the 5:95 promotion, where buyers need only pay 5% for the downpayment and would only continue to pay the rest once the house was ready.

Naza TTDI, acquired from Danaharta in 2004, is the property arm of the Naza group. Established in 1973, the company’s first major property development was Taman Tun Dr Ismail in Kuala Lumpur.

By The Star (by EDY SARIF)

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