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Tuesday, July 28, 2009

Naza TTDI looks for land to undertake niche projects

NAZA TTDI Sdn Bhd says the 202.34ha it has in the Klang Valley has a total of about RM8 billion in gross development value (GDV) and is looking to increase its landbank to undertake more niche projects.

Naza TTDI also expects its latest upmarket project launched in Ampang on Saturday to rake in RM360 million in GDV.

The project joins other niche developments by Naza TTDI such as the RM4 billion Platinum Park at the Kuala Lumpur City Centre, Laman Seri in Shah Alam and TTDI Plaza in Taman Tun Dr Ismail.

"Our landbank is small. We have plots of land in Taman Tun Dr Ismail in Kuala Lumpur and Shah Alam, among others. We want to buy more in the Klang Valley," managing director SM Faliq SM Nasimuddin said at the launch of The Valley TTDI, Ampang.

The Valley TTDI, which boasts units priced from RM2.67 million to RM5 million onwards each, has been warmly received. Half of the total 134 units of link villas and bungalows have been sold.

Faliq expects the sales rate to hit at least 80 per cent by year-end.

There are 66 units of seven-room link villas priced at RM2.67 million onwards and another 56 units of eight-room bungalows costing RM2.97 million onwards.

If the eight-room bungalows are not premium enough, there are 12 units of "exclusive" bungalows that cost over RM5 million each. Nine units had been snapped up, company officials said.

The "exclusive" bungalows sit on 7,000 sq ft each and have 10 rooms with internal lifts and a swimming pool, bringing the total built-up area to 8,412 sq ft.

The Valley TTDI itself is located on a 14.36ha site. It will also have a broadband-enabled central community centre and park amenities such as a jogging track, waterfront decks, meditation garden and spring water spa.

"The Valley TTDI was designed to personify living harmony with nature. Another unique selling point is its relative short distance to the Kuala Lumpur city centre," Faliq said.

The Valley TTDI is targeted for completion in July 2010.

By Business Times (by Zuraimi Abdullah)

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