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Friday, April 6, 2012

Naza TTDI’s listing agenda

Listing plan: TTDI Sdn Bhd deputy executive chairman cum group managing director SM Faliq SM Nasimuddin posing with the model of the KL Metropolis project which has a gross development value of RM15bil. The company plans to go for listing on Bursa Malaysia in the next three to five years.

It plans to go public in 3 to 5 years to become among the biggest players

SHAH ALAM: Naza TTDI Sdn Bhd is eyeing a listing on the local bourse in the next three to five years to achieve its aim of becoming one of the largest property developers in the country.

Deputy executive chairman cum group managing director SM Faliq SM Nasimuddin said although internally the company was “all set to go”, it would be more prudent to wait for the right time to undertake the listing exercise.

“We want to ensure the company realises the right value from the listing and will wait for the right market conditions and external factors before proceeding,” Faliq told StarBiz.

He said the local market would be quite challenging these few years given the high number of projects coming onstream, especially high-rise residential and commercial projects.

To address the market uncertainties, Faliq said Naza TTDI would be launching projects with good demand including terrace houses, shop lots, and also its “bread and butter” township products.

Naza TTDI, the property arm of the Naza Group, will also be looking to expand outside of the Klang Valley to other fast growing markets such as Penang and Sabah.

The company owns 800 acres of land in Bertam on the mainland of Penang which it plans to start developing around end-2013.

As for Sabah, Faliq said the company was eyeing Kota Kinabalu.

“With the new airport in Kota Kinabalu, there has been a surge in tourist arrivals from various countries including Hong Kong and South Korea who are keen to invest in properties there,” he added. On the sales target for 2012, Faliq said Naza TTDI was confident of making it to the RM1bil league this year. The company recorded sales of RM655mil last year.

On its plate are several high impact projects. Platinum Park in the KLCC vicinity would comprise three Grade A office towers, two luxury service apartment towers and one hotel um luxury service apartment tower. The RM4bil project is due for completion in 2016.

KL Metropolis is a 75.5 acre mixed development comprising residential, commercial, retail, office towers, as well as exhibition and convention, and arts and culture facilities.

The master plan for KL Metropolis, positioned as Kuala Lumpur's International Trade and Exhibition District, was launched last October. The project will have a gross development value of RM15bil.

Naza TTDI's unit, TTDI KL Metropolis signed a privatisation agreement with the Government and Syarikat Tanah dan Harta Sdn Bhd to develop the Matrade Centre on 13 acres in Jalan Duta at a cost of RM628mil.

Naza TTDI will be developing the balance of 62.5 acres in the vicinity into an integrated mixed development.

The tender to build the superstructure for the Matrade Centre, slated to be the country's largest exhibition and convention centre, will be closing soon.

Work on the superstructure is to begin in June and the building is to be handed to the Government by end-2014.

Faliq said Naza TTDI also has two ongoing township developments - TTDI Alam Impian, a 208 acre township development in Section 35, Shah Alam; and TTDI Grove, a 118 acre township in Kajang.

“These are our bread and butter projects that we can depend on during a market downturn,” he added.

By The Star

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