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Old November 26th, 2008, 04:54 PM   #1
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KUALA LUMPUR | Nova Square | 3 Towers | Pro

Nova Square
Developer : TA Properties Sdn Bhd.



Commercial Development @ Bukit Bintang
This proposed mixed development is strategically located on a 3-acre prime location in the Golden Triangle in Kuala Lumpur. Located at the junction of Jalan Bukit Bintang and Jalan Imbi, this development will encompass 3 towers of modern contemporary luxury serviced residences with a lifestyle inspired retail podium.

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Old November 26th, 2008, 04:57 PM   #2
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TA aims to boost hotel division
The Edge Daily | July 28, 2008 By Chong Jin Hun

KUALA LUMPUR: TA Enterprise Bhd’s hotel business is a growth story. The firm, also a financial services and property development firm, plans to build or acquire more hotels to establish a house-branded global hotel chain. The hotels may be retained for recurring income or sold for profits.

At present, TA’s sole hospitality asset is the five-star Radisson Plaza Hotel Sydney in Australia. In the pipeline are two hotels on company-owned freehold prime land in Kuala Lumpur.

One will be built within a 1.23ha site in Jalan Bukit Bintang, and Jalan Imbi, while the other will sit on a 0.92ha tract within the Kuala Lumpur City Centre (KLCC) where the iconic Petronas Twin Towers are located.

TA managing director and chief executive officer Datin Alicia Tiah said: “Our corporate plan is to go into the hospitality business. I won’t exclude the possibility of acquiring hotels but I rather build.”

Both upcoming hotels constitute a part of larger real estate projects by TA. The unit in Jalan Bukit Bintang and Jalan Imbi will occupy one of the three high-rise towers to be built under the firm’s RM1.39 billion “Nova Square” mixed development which includes serviced apartments and condominiums.

Meanwhile, the hotel at the KLCC will occupy one of the two high-rise properties under an estimated RM1.4 billion undertaking. “This project consists of two towers currently proposed at 55 and 40 storeys respectively. We envision a six-star hotel and serviced apartments with retail, and food and beverage components,” Tiah said.

Financing options to expand TA’s hospitality business is already in place. The firm may sell its residential towers en bloc to raise funds to finance the construction of the hotels, or set up a real estate investment trust (REIT) to unlock the value of its properties.

Owning a house-branded global hotel chain offers TA a platform to expand its property development business abroad as well. The company, which intends to double its overseas revenue contribution to 50% of group turnover in as early as three years, will leverage on its hospitality brand to spur its foreign real estate operations.

TA already owns real estate assets in Australia and Canada. The company plans to venture into high growth markets like China and Vietnam, and at the same time, go bargain-hunting for properties in the US following the nation’s subprime loan crisis.

Potential overseas listings for TA’s real estate division is no secret. TA had indicated to Bursa Malaysia that it might consider floating its property unit, possibly, on the Singapore or Hong Kong bourses.

TA’s earnings in FY09’s first quarter ended April 2008 dropped significantly. Net profit was halved to RM28.74 million from RM57.81 million a year earlier while revenue was down 13.1% to RM116.37 million from RM133.85 million.

Outlook for FY09 is, however, deemed optimistic. This will be underpinned by TA’s unbilled property sales of RM234.7 million from its Klang Valley projects — the Damansara Idaman, Idaman Villas, and Idaman Residence which will be recognised in the company’s books during the year.

In FY08, stockbroking and financial services made up 47.6% of TA’s revenue of RM546.27 million.
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Old November 26th, 2008, 04:59 PM   #3
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Alicia Tiah’s property checklist
Saturday September 6, 2008 TheStar

TA is the initials for the two main shareholders of the group, Tony and Alicia. TA Enterprise started out as a stockbroking company. In 2002, Datin Alicia Tiah, wife of the group’s single largest shareholder and founder-owner Datuk Tony Tiah, went into property development. Tony has a 33.6% stake in the company. Both of them manage the group today. They are also grooming their son, Joo Kim, who joined them three months ago.

Excited with her success and eye for property development, Alicia is today going into property management.

“I considered the world’s rich. Other than Bill Gates, they all made their money from land. They bought land in the right place and at the right time,” she enthuses.

The group’s landbank is concentrated in prime locations in the Klang Valley while the prime investment assets in its stable are an AAA-rated office building in downtown Vancouver, the Radisson Plaza Hotel in Sydney, and the Menara TA, where it is headquartered in Jalan P. Ramlee, Kuala Lumpur.

Alicia took the plunge to go into property development in 2002. Her maiden project was 62 acres in Petaling Jaya, bordering Mah Sing Group Bhd’s Damansara Lagenda and a stone’s throw away from Tropicana Golf and Country Resort.

“When we bought the land, there was no access. We bought it anyway because it was very cheap and we solved the access problem,” she recalls.

At that time, as with today, security became an issue with house buyers, particularly with the rich. Seeing the signs of the times, Tiah put in the guards and gates for this high-end bungalow development.

The company will launch the last phase comprising 27 units of freehold bungalows in November this year for between RM4.2mil and RM5.5mil each. It will be offering four designs. The first three phases of the freehold gated and guarded development comprises 109 units of bungalows.

“The houses in the previous phases are already exchanging hands for around RM4mil. So I have to price my new ones slightly higher. Besides, there are only 27 units,” says the savvy businesswoman.

In 2005, she unveiled Idaman Villas comprising 54 units of semi-detached opposite Damansara Idaman. The current selling price is RM1.87mil and RM2.9mil.

With the hype and interest around the KLCC area, Tiah was not to be outdone. TA launched 34-storey condominium, also in 2005. Known as Idaman Residence, the project is 92% sold. There is currently a balance of 19 units with a selling price of RM1,200 per sq ft.

The company has unbilled sales from the three above projects of about RM22mil. Overall, it has total unbilled sales of RM235mil.

The group will be kept busy with a mixed commercial development opposite KLCC in years to come. Tentatively known as TA3 and TA4, the 2.3 acres of freehold land will be the site of two tower blocks, a hotel and service apartment block and a residential block.

The estimated gross development value (GDV) of this project is RM1.5bil. Tiah has plans for an underground walkway to link it to the Petronas Twin Towers. The market value for that piece of land is RM218mil.

The company has applied to the local authorities for a higher plot ratio.

“We will not be able to start so soon as we need to focus on Nova Square. Besides, there is currently several thousands of condominium units around KLCC. Until I am very confident that the project will be able to take off, we will wait. The current oversupply has to be absorbed first.”

Nova Square will be located on 3.3 acres at the corner of Jalan Bukit Bintang and Jalan Imbi in Kuala Lumpur. This, too, will be a mixed development comprising a hotel, service apartments, retail and eateries and an office block. There will be a total of three blocks and five levels of podium.

“We will build, manage, run and operate our five-star hotel brand here,” she says. Foundation works will begin this year,” says Alicia. The GDV is RM1.3bil. The land was bought two years ago.

“There has been interest shown for one of our blocks in Nova Square. It is a matter of price but I would like to keep the hotel as a recurring source of income and sell the service apartment block, or inject it into a hotel Reit (real estate investment trust) later on,” she says.

The company also has 48.5 acres freehold land in Bandar Sri Damansara, with a market value of RM335mil. Known as Sri Suria, it is planning for retail commercial component, service apartments and a mall on that site. The company will invest RM20mil to build a ramp to that development.

That project will serve the community around Bandar Sri Damansara, Sungai Buloh, Bukit Rahman Putra, Sierramas, Desa ParkCity and Bandar Menjalara.

“People want convenience today. They want to shop, live and work around the same place. The same applies to Nova Square. So both projects will have different components integrated seamlessly.”

Last year, the group acquired several pieces of land in the city. These include 0.8 acre in Ceylon Hill, KL (market value: RM23.7mil) and another similar sized piece in U-Thant area (RM20.7mil). She is planning for a high-end low density, low-rise development in U-Thant.

The company also bought 3.2 acres freehold land in Ukay Heights, Ampang (RM12.4mil), She proposes to build low-rise, low density high-end homes there.

For the U-Thant project, she plans to keep some of the units as a source of recurring income. Other land assets include 7.34 acres in Bukit Kiara (RM30mil), 2.8 acres in Cheras (RM6.6mil), 23 acres of Bukit Beruntung (RM10.9mil) and 96 acres in Kluang (RM18.7mil).
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Old November 26th, 2008, 05:01 PM   #4
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TA Enterprise aims to list property arm in first quarter
Friday November 21, 2008 By SHANNEN WONG TheStar

PETALING JAYA: TA Enterprise Bhd expects to list its property arm TA Global Bhd on the main board in the first quarter of next year following the Securities Commission’s approval recently.

Managing director and chief executive officer Datin Alicia Tiah said the group was arranging with the underwriters on the portion of shares to be allocated to bumiputras.

“Initial public offerings (IPOs) in recent times were not fully subscribed.

“I think we would need to see how we are going to allocate the bumiputra portion following the Government’s relaxation of the rules,” she said.

The Government recently announced that it was relaxing the minimum 30% bumiputra equity requirement for public-listed firms. TA Enterprise had earlier targeted to list TA Global by next month.

TA Global’s listing exercise involves a proposed rights issue of 860 million new shares and a public issue of 350 million new shares at 50 sen per share.

TA Enterprise had earlier proposed to sell 875 million TA Global shares to bumiputra investors. It also proposed a capital distribution to shareholders via a share capital reduction from RM1 per share to 50 sen.

The proceeds from the proposals would total RM437.5mil. TA Enterprise is expected to recognise a capital gain of RM924.9mil.

Although the group is cash-rich, Tiah said, it would still want to raise more funds through an IPO because it needed more cash to buy assets at this time as the prices of properties were easing.

As of July 31, the group’s net cash and cash equivalents totalled RM451mil.

“We would still need more cash if we were to buy assets overseas.

“For investments in Australia, the weakening Australian dollar vis-a-vis the ringgit would enable TA Global to buy more properties there,” she said.

It currently owns Radisson Plaza Hotel in Sydney that had an average occupancy rate of 82% in July and a market value of A$120mil.

“Everything is at a discount now and I would say there’s about 25% discount from currency gains due to the strengthening of the ringgit (against the Australian dollar),” she said.

Furthermore, Tiah said, it was a good time to buy properties now because many prime properties held by hedge funds are available following a massive redemption by hedge funds.

“That is why this IPO is very important to us. If we are successful in raising the money, this would create an opportunity for the group to buy good assets with highly discounted prices,” she said.

Meanwhile, deputy chief executive officer Tiah Joo Kim told StarBiz that TA Global would launch an international brand for the newly acquired RM107mil Coast Whistler hotel by the first half of next year.

He said the group would develop hotels that carried its own brand, complete with different concepts and themes.

“We want to study the market segments and create different themes and concepts to suit the different market segments,” he said, adding that the acquisition of Coast Whistler would be completed by next month.

Joo Kim said TA Global would also develop a mixed development project worth some RM1.27bil on 3.3 acres at the corner of Jalan Imbi and Jalan Bukit Bintang, Kuala Lumpur.
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Old May 17th, 2009, 06:39 AM   #5
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TA Enterprise to list property unit by October
By Adeline Paul RajPublished: 2009/05/16

The property business, TA Global Bhd, will have a paid-up capital of RM1.5 billion and RM2.4 billion in assets

TA ENTERPRISE Bhd (TAE)(4898), a property and financial services firm, is targeting to list its property business on the Main Market sometime during end-September or early October, its top official said.

The property business, known as TA Global Bhd, will be one of Malaysia's largest property firms with RM2.4 billion in assets, managing director and chief executive officer Datin Alicia Tiah said.

It will have an issued and paid-up capital of RM1.5 billion.

"If everything goes well, we can issue the prospectus in one month's time. It all depends on how soon we get approval from the Securities Commission," she told reporters at a briefing yesterday.

The move will essentially see TAE holding all of the group's financial services businesses and TA Global holding the property-related assets.

The reason for doing this is to unlock TAE's value for shareholders, Tiah said.

TAE's board also announced yesterday a first and final dividend of 4.5 per cent less tax for the fiscal year ended January 31 2009.

Holders of its TA Warrants 1999/2009 will be entitled to the dividend if they exercise the warrants into TAE shares before the warrants expire on June 24 this year.

As part of the proposed listing scheme, those who exercise the warrants before the expiry date will become TAE shareholders and also obtain TA Global shares and irredeemable convertible preference shares (ICPS).

TAE is proposing that shareholders get three TA Global shares and three ICPS for every five TAE shares held. This, however, is just an indicative ratio, Tiah said.

If all the warrants are converted, TAE will end up holding 38 per cent of TA Global, allowing it to equity account the business.

Among the properties that TA Global holds are development projects such as Damansara Idaman, Idaman Villa, Seri Suria and Nova Square.

Its property holdings include Menara TA One in Kuala Lumpur, Terasen Centre (Vancouver), Radisson Hotel (Sydney), Aava Whistler hotel (Whistler, Canada) and Westin Hotel (Melbourne).

Once the listing is done, the TAE group - one of the largest landbank owners in the vicinity of the Kuala Lumpur City Centre - may decide to set up retail, office and hospitality property trusts. This may be done with a third party, Tiah said.

On another front, Tiah said that plans for TAE to obtain an investment banking licence had been put on hold.

The group is cash-rich, with more than RM200 million currently.
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Old July 6th, 2009, 09:42 PM   #6
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Strategically located in the bustling city of Kuala Lumpur, the Idaman Bintang development is designed to be a classy and exclusive mixed development, consisting of a themed retail podium with ample basement carpark spaces, office tower and furnished apartments.

The development's design blends the various elements of water, reflections, textured lighting, light structure, sky gardens and media interfaces to create a truly versatile environment to "Live", "Work" and "Play" in.

Source: http://www.surbana.com
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Old July 21st, 2009, 09:57 AM   #7
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Old September 14th, 2009, 06:50 PM   #8
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Hi Dear TA's shareholders
We have been waiting for this TA Global listing for a year. So much so as saying listing by end Sept'09 or early Oct'09, but now you see already mid-Sept, still no news saying the listing is on schedule.
Why they (TA management) waiting for? SC approval? EGM to approve the listing?
Anyone here can clear the doubt?
Thank you very much.
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Old September 15th, 2009, 11:47 AM   #9
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Quote:
Originally Posted by Alex1975 View Post
Hi Dear TA's shareholders
We have been waiting for this TA Global listing for a year. So much so as saying listing by end Sept'09 or early Oct'09, but now you see already mid-Sept, still no news saying the listing is on schedule.
Why they (TA management) waiting for? SC approval? EGM to approve the listing?
Anyone here can clear the doubt?
Thank you very much.
Aother project by TA > http://www.skyscrapercity.com/showth...=482186&page=4

TA Enterprise plans to buy one hotel a year
Written by Loong Tse Min Friday, 31 July 2009 17:36

KUALA LUMPUR: Stockbroking and property development group TA Enterprise Bhd intends to continue its hotel-buying spree, expecting to acquire at least one hotel property a year over the next two to three years

TA Enterprise managing director and chief executive officer Datin Alicia Tiah said on July 31 the group also plans to build two hotels in Kuala Lumpur.

Having only completed the purchase of two overseas hotels - The Westin Melbourne in Australia and Coast Whistler in Canada - the company drew attention on Monday for announcing a proposal to acquire the four-star hotel Swissotel Merchant Court Singapore. Before December, TA's hotel portfolio consisted only one hotel, the Radisson Plaza in Sydney, Australia.

Speaking to reporters after the AGM and EGM, Tiah said the company would launch property development projects worth more than RM2 billion in the next calendar year.

The new projects will include the first phase of the mixed commercial development in Sri Damansara with gross development value (GDV) of more than RM3 billion; a boutique residential development at Jalan U-Thant with a GDV of RM110 million and a condominium at Dutamas with GDV of RM300 million.

TA's current total undeveloped land bank of 1,000 acres was expected to last the group for the next 10 years.

For the current financial year, Tiah expects the earnings contribution to be 50:50 from property development versus financial services including brokerage and lending.

For its financial year ended Jan 31, 2009 (FY09), its financial services income shrank to 25% of net profit versus 75% from property development.

In total, TA's group consolidated net profit for FY09 fell 59% to RM92.3 million with revenue remained largely unchanged, falling only 2% to RM535.4 million.

The broking division saw net operating profit shrink by 75% to RM39.2 million due to lackluster performance and thin trading volumes on Bursa Malaysia, which saw net brokerage and commission income dropping sharply.

TA's group's property development division posted a 144.4% increase in net operating profit to RM165 million, which was 4.2 times that of the stock broking division.

Stock broking earnings were expected to recover to post earnings on par with the property division this financial year, "if market momentum maintains like this," Tiah said.

The group's property division, TA Global Bhd is expected to go for listing by October or early-November this year.

Property projects slated for launch beyond 2010 were mixed commercial developments in Bukit Bintang with GDV of RM1.3 billion for 2012, a project opposite the Kuala Lumpur Convention Centre worth GDV of RM1.2 billion for 2011, and the other phases of the RM3bil development in Sri Damansara that should run for a period of seven to 10 years.
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Old October 16th, 2010, 09:49 PM   #10
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Old January 8th, 2013, 04:49 AM   #11
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any progress for this project. still KIV?
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Old April 10th, 2013, 05:20 PM   #12
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Planning Stage
Quote:
Originally Posted by rizalhakim View Post
Nova Square @ Bukit Bintang
Architect : NRY Architect (Four Season)
Serviced Residences, SOVO, Hotel
3 blocks 40-50storey
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Old March 30th, 2014, 11:50 AM   #13
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Project approved

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Originally Posted by davidwsk View Post
5-STARS Hotel + Residence + Office Block
1x 48 fl
1x 46 fl
1x 44 fl



Nova Square

http://www.taglobal.com.my/
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Old March 30th, 2014, 06:17 PM   #14
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Nice...I like it. Can match Singaporean standards
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Old May 31st, 2014, 09:26 AM   #15
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Quote:
Originally Posted by patchay View Post
TA Global to develop KLCC land
by eugene mahalingam
The Star BizWeek | Saturday May 31, 2014 MYT 7:33:26 AM
http://www.thestar.com.my/Business/B...lop-KLCC-land/


TA GLOBAL BHD, one of the largest landowners in the KLCC vicinity, is actively looking to embark on projects on some of the prime plots it owns.

According to a source, the company is looking to develop its 2.47-acre car park lot located across from KLCC into a five-star hotel cum serviced apartment project.

“The company is looking to develop a 60-storey building and plans to launch it later this year,” says a source, adding that ground works for the project are expected to commence in September.

The project, tentatively to be known as TA 3 and 4, has in fact been earmarked as a mixed commercial development strategically located along Jalan P Ramlee, Kuala Lumpur, just across the KLCC Twin Towers.

DTZ Nawawi Tie Leung executive director Brian Koh says the serviced apartments will definitely fetch premium prices given its location.

“It would depend how the company will position their products. Some serviced apartments are fetching close to RM2,000 per sq ft.

“The Four Seasons Place, for instance, is close to RM3,000 per sq ft.”

The Four Seasons Place is a 1.5 million sq ft integrated development owned by Venus Assets Sdn Bhd and is located next to the Petronas Twin Towers.

Given its prime location, one industry observer says he expects demand for TA’s proposed development to be good.

“If you look at The Four Seasons Place, around 80% of the residences have been sold since May last year,” he says.

According to reports, The Ritz-Carlton Residences located at the Jalan Sultan Ismail-Jalan Ampang intersection is priced at an average RM2,500 per sq ft.

According to TA Global’s annual report, TA 3 and 4 will comprise twin buildings that will house a five-star hotel and a branded serviced residences with a four-level podium of retail, food and beverage outlets and lifestyle facilities.

“According to the company, the building plans for this project was approved in February 2014 and the earthworks are expected to commence in the third quarter of this year once relevant building construction approval is obtained.

Upon completion, the project is expected to register a gross development value (GDV) of approximately RM1.4bil. The company is currently in negotiation with an international hotel chain to brand and operate the hotel and serviced residences.

TA Global recently also announced its proposal to develop a mixed-use development at the junction of Jalan Imbi and Jalan Bukit Bintang.

Located right in the heart of Kuala Lumpur’s Golden Triangle, to be known as Nova Square, the project is a 3.075 acres freehold mixed development that will consist of three towers of iconic lifestyle residences with the convenience of a retail podium.

Again, given the prestigious location, one industry observer says TA would be able to charge a good premium for the proposed project. “Properties such as Fairlane Residences are going for RM1,300 per sq ft while Pavilion Residences is fetching RM1,800 per sq ft,” she says.

According to TA Global’s annual report, Nova Square is accessible via the Smart Tunnel, Jalan Tun Razak and Jalan Ampang to other parts of Kuala Lumpur and Selangor.

The development order for this project is, however, still pending approval from the local authorities.

“Given the location of these projects, TA is in a good position to unlock the value of the landbanks that it has,” says an observer.

Another project that the company is undertaking is its mixed commercial and residential development, Damansara Avenue, in Petaling Jaya.

The development is sprawled over 48 acres of freehold land comprising of high end residences, retail outlets, lifestyle ofρces and malls which will be inter-connected by covered walkways, underground linkages and surrounded by parks and play areas.

“This integrated development is expected to fetch a GDV of approximately RM3.8bil over the next ten years,” the company says in its annual report. For its financial year ended Jan 31, 2014 (FY14), net profit rose 33% to RM123.90mil from RM93.43mil in the previous corresponding period, while revenue increased to RM692.44mil from RM638.02mil previously. The higher net profit was mainly contributed by finance and related services division due to significant loan recovery from financial receivables.

In its notes accompany its FY14 results, TA Global said it would continue to focus on its Damansara Avenue project and will be launching some new projects in the next financial year to sustain its earnings from the property development.

TA Global also has several projects overseas. It has a mixed development called The Gardens in British Columbia, Canada with a GDV of C$85mil (RM252mil). The project, which is currently under construction, is expected to be completed by the middle of this year.

Its other Canadian project is the Trump International Hotel & Tower in Vancouver.

The project, which has a GDV of C$496mil (RM1.47bil), comprises a 63-storey mixed-use development comprising of a luxury hotel tower with 147 hotel rooms, 218 high-end residential units, a 4-level podium and an eight-level underground car park.

The company is jointly developing the project with Canada’s Birkbeck Trust under a limited partnership arrangement. TA Global’s other hotel projects are the Radisson BLU Hotel in Sydney, Australia; Westin in Melbourne, Australia; Swissotel Merchant Court in Singapore; Aava Whistler Hotel in Whistler, Canada; Swissotel in Kunshan, China; and Moven pick Resort & Spa Karon Beach in Phuket, Thailand.

In its notes accompanying its FY14 earnings, the company said its hospitality business spanning across Singapore, Australia and Thailand is expected to continue to generate a stable recurrent income stream for the group.

“The growth and performance of our hospitality business in China and Canada in the next financial year will be driven and dependent on its country’s economic growth. We will continue to explore and evaluate opportunities to acquire new hotel properties to expand our existing hotels portfolio and to enhance the revenue contribution of our hospitality division,” it says.
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Old June 1st, 2014, 11:07 PM   #16
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60 floors instead of 44-48 Nice.
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