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Old May 10th, 2008, 12:42 PM   #21
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Old May 10th, 2008, 12:42 PM   #22
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Old May 24th, 2008, 04:29 AM   #23
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Platinum Park set to sparkle in KLCC area
By theSun (by Tim Leonard)

PLATINUM Park’s Grade A office towers are expected to fill the demand for premium office spaces in the KLCC belt with its attractive pricing as a pull-factor.

This is evident with the recent enbloc purchase of its 50-storey office tower (pix) by the Federal Land Development Authority (Felda).

Felda signed a sale and purchase agreement with Platinum Park’s developer TTDI Development Sdn Bhd for RM640.7 million, or an average of RM930psf.

To be named Menara Felda, the office tower will have a nett lettable area of 689,000 sq ft, a 1,500-capacity banquet hall and a variety of other facilities.

Menara Felda will be the tallest tower among Platinum Park’s seven iconic towers that essentially comprise three office towers, three high-end condo towers and a service- apartment tower.

While, at RM930 psf, TTDI Development’s deal doesn’t exactly match the RM1,120 psf benchmark deal set by Glomac Bhd, which sold its Glomac Tower to Kuwait Finance House late last year for RM577 million, the Felda deal is certainly higher than Mah Sing Bhd’s enbloc sale of East Wing of TTDI DEVELOPMENT The Icon along Jalan Tun Razak for an average of RM899 psf late last year. That sale was valued at RM237 million.

Some investors have approached Felda with an offer of RM1,250psf disclosed by Deputy Prime Minister Datuk Seri Najib Tun Razak after the ground breaking ceremony on Jan 22. “We have been approached with offers for RM1,250 psf and if we sold it today, we would make a profit of RM220 million,” said Najib.

Menara Felda is located in Platinum Park’s 9.1-acre tract.

When contacted, several real estate practitioners commented that the transaction was a fair deal for buyer and seller.

Zerin Properties Sdn Bhd’s CEO Previndran Singhe said: “The pricing was fair, in view of the going rates for KLCC property”. “The pricing will certainly put a premium on the KLCC-based Grade A office space,” added Previndran.

“Platinum Park would redefine the KLCC area as a prestigious address and a world-class real estate development.

“If the product is good, then its going to be a walk in the park for TTDI Development as its offerings would be snapped up by buyers,” said Previndran.

Platinum Park is the secondlargest real estate development in KLCC’s vicinity after the KLCC project with a gross development value (GDV) of RM3.5 billion.

“We are also holding strategic talks with two other parties who are keen on purchasing Platinum Park office towers enbloc,” said TTDI Development group managing director Datuk Johan Ariffin.

Johan said a “necklace” of niche lifestyle retail outlets featuring products and services with international appeal never seen before in KL, would complement the development of Platinum Park.

He said the condominiums will be noted for their space, measuring between 2,200 sq ft and a whopping 13,000 sq ft, all priced from RM2,000 to RM2,500 psf onwards.

The developer claims Platinum Park, to be developed over the next eight years along the intersection of Jalan Stonor, Jalan Binjai and Lorong Kuda, will be of international standards on par with Hyde Park of London, Central Plaza in New York, Rodeo Drive in Los Angeles and Tokyo’s Roppongi.

“Platinum Park will have a gross floor area of 3.5 million sq ft, and will be the most accessible in the KLCC area as there are six roads leading in and out of the development site, and we have also submitted a traffic plan for City Hall’s approval,” said Johan.

DTZ Debenham Tie Lung (M) Sdn Bhd executive director Brian Koh said there have been no new project launches in the KLCC area over the past six months and news of Platinum Park’s launch will excite market sentiment.

“Platinum Park will fill the need for Grade A offices and high-end condo demand in the KLCC area. We expect the project to augment the market demand for KLCC area properties,” said Koh.

“The enbloc sale of Menara Felda also puts the project on a firm ground,” he added.

Henry Butcher Malaysia Sdn Bhd COO Tang Chee Meng said the pricing of Platinum Park condo’s over the RM2,000 psf mark will eventually push up prices in the KLCC area to higher levels.

“Despite the economic slow down in the US, we in Malaysia are attracting lots of foreign funds, especially from Korea and the Middle East,” said Tang.

“And since Platinum Park is a notably huge project, it will set the benchmark for high-end residential prices in KLCC. It is in a favorable position in the prevailing market condition,” he added.

Another consultant, Kenrich Realty’s Alfred Chin said buyers would now have more choice and options in selecting KLCC properties.

“The more choices, the better they are for investors. And with Platinum’s launch, I believe investors, especially foreigners, will get that — choice,” said Chin.
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Old May 27th, 2008, 07:51 AM   #24
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Old June 2nd, 2008, 09:54 AM   #25
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My photos
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Old June 3rd, 2008, 08:14 AM   #26
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01/06/2008

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Old June 6th, 2008, 07:32 PM   #27
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Old June 6th, 2008, 08:00 PM   #28
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Thanks Nazrey.
Shame for the old trees.
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Old June 7th, 2008, 12:48 AM   #29
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Platinum Park Kuala Lumpur : Official Website[/QUOTE]

I love the design for the tower on the far left. Amazing!
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Old June 17th, 2008, 08:06 AM   #30
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Old July 2nd, 2008, 04:05 PM   #31
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Old July 15th, 2008, 04:50 AM   #32
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Old July 16th, 2008, 10:25 AM   #33
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Old July 20th, 2008, 01:49 AM   #34
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50-storey Menara FELDA
(The Federal Land Development Authority (more commonly referred to as FELDA)


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Old July 29th, 2008, 04:24 AM   #35
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Platinum Park to push TTDI into big league
Monday January 28, 2008
Stories by S.C. CHEAH
TheStar



World-class development will help brighten local property sector.

TTDI Development Sdn Bhd's newly launched Platinum Park, a world-class RM3.5bil high-end integrated residential and commercial development in Kuala Lumpur's Golden Triangle, has catapulted the company into the big league of property development.

The sale of the 50-storey Menara Felda, the tallest of seven iconic towers in Platinum Park, to the Federal Land Development Authority (Felda) for RM640.7mil last week is a major achievement, not only for the company but also for the whole industry that needs this kind of “fireworks” to brighten the “gloom and doom” of a US and possibly global recession.

With the launch of Platinum Park, about 700 metres from the Petronas Twin Towers and Suria KLCC shopping centre, TTDI is poised to regain its former glory not only as an industry leader but also as a major player to be reckoned with.

TTDI group managing director Datuk Johan Ariffin said Platinum Park would be a world-class product and one of the most exciting developments that Malaysia had ever seen.

“It will be a must-see destination for tourists like Roppongi Hills in Tokyo, Xin Tian Ti in Shanghai and Knightsbridge in London. If you are a tourist and you have not visited Platinum Park, then you have not been to Kuala Lumpur.”

“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. This is an investment grade property. The potential is tremendous,” he told StarBiz in an interview.

Designed by RSP Architects, this “haven within a city” development will be the latest project by the renowned architectural firm responsible for a number of other landmark works including the KL Hilton and Le Meridien hotels, Great Eastern Office and GE Mall. It will be the biggest luxury development to be undertaken by a bumiputra company in the vicinity of the KLCC.




An artist’s impression of Menara Felda


It will comprise of three high-end condominiums (287 units) called Platinum Residences; three Grade A office towers and a five-star, 452-unit, 30-storey serviced apartment tower called Platinum Concierge Suites, designed to give the best view of the Petronas Twin Towers, the Melawati Hills and the Royal Selangor Golf Course.

The super condominiums will be priced from about RM2,000 to RM2,500 per sq ft with size of 2,200 to 3,500 sq ft, 4,500 to 5,500 sq ft and penthouses of 8,000 to 13,000 sq ft. Of the three condominium towers, one will be a 30-storey block with 123 units and two, 42-storey tower with a total of 164 units. The first condominium block would be launched later this year or early next year.

While the condominiums are targeted at owner-occupiers, the serviced apartment with size of 450, 675, 900 and 1,500 sq ft will be targeted at discerning investors.

Besides the very prime location, Platinum Park's other unique selling points are its size and concept.

Johan said apart from KLCC, there were no other developments that had the size of Platinum Park in the immediate neighbourhood.

“The 9.1 acres gives us the opportunity to create something different and iconic. We are able to create a seamlessly integrated development of seven towers with top of the line security and ICT.

“We found that every development in the neighbourhood is of one or two blocks and three towers at the most. Ours is the only one that has seven towers.”

Johan said there would be 80,000 sq ft of lifestyle retail space spread over the edge of the park and the towers. There will also be three levels of auto showrooms.

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

The retail units will not be sold but kept for rental income. They will also serve residents in about a dozen new condominiums in the immediate vicinity.

Menara Felda's 50 floors will reflect Felda's 50 years of successful history. It will have a net lettable area of 689,000 sq ft and a floor plate of 15,000 sq ft. It will have, among other things, a large banquet hall that can seat 1,500 people at the basement level, double volume ceiling, pre-function lobby and two basements and a podium for parking.

The three office towers will be of 33, 38 and 50 stories. The indicative prices of the office lots will be around RM1,200 to RM1,500 per sq ft, depending on size and the market. The remaining two office towers called Platinum 1 and 2 business suites might be launched later this year or early 2009.

Platinum Park will be developed in five phases over the next eight years and is expected to contribute significantly to TTDI's bottom line.
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Old July 29th, 2008, 05:29 PM   #36
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Old July 30th, 2008, 06:24 AM   #37
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Old July 30th, 2008, 06:33 AM   #38
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Old July 30th, 2008, 06:47 AM   #39
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Old July 31st, 2008, 04:24 AM   #40
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