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RISING LIKE A SPIRE!
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Discussion Starter · #1 ·
3 more new condos near KLCC!!!!!!
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http://biz.thestar.com.my/news/story.asp?file=/2004/2/16/business/7313346&sec=business
From TheStar
TA to be strong player in property


BY ANGIE NG
TA PROPERTIES Sdn Bhd, a wholly owned subsidiary of TA Enterprise Bhd, wants to make a stronger presence in the property sector, especially in the niche residential market, its executive director Datuk Mohamed Abid said.

If the overwhelming response received from buyers for its Damansara Idaman project – a gated and guarded bungalow enclave near Tropicana Golf & Country Club in Petaling Jaya – is an indication of things to come, then TA Properties may be on course for bigger successes.

From the day of its soft launch on Dec 23 last year, all the 21 units under phase one were snapped up within a week. The bungalows were priced from RM2.2mil to RM2.8mil each.

In an interview with StarBiz, Mohamed attributed the decision by the TA management to go big on property to the “right” environment in the country where home ownership is actively encouraged by the government, the easy availability of financing packages and consumers viewing property purchase as a good investment choice, with an annual capital appreciation of between 5% and 8%.

“We have very rich Malaysians who literally stash their cash under their pillows. They are just waiting for the right projects to come along to make their buy. There is, in fact, a growing appetite for well-planned exclusive residential enclaves with good design concepts in good locations,” he said.


Datuk Mohamed Abid (right) and Rabindran Thaver.
Mohamed said all the buyers for the Damansara Idaman bungalows came to know of the project by word of mouth and this reflected the sentiment for such high-end homes.

TA Properties director Rabindran Thaver said the company saw this as a stamp of approval “for what we have set out to achieve in Damansara Idaman and will give our all to make sure the project becomes our showpiece.”

The company has lined up four projects for launch this year, which would keep it busy for the next 5 to 8 years.

“We have very good land bank in prime locations in the Klang Valley, which is good for upmarket residential developments, and are confident of the good response for these projects,” Mohamed said.

A 62-acre parcel along the North-South Expressway in Damansara would be developed into Damansara Idaman, and the 1.5 acre and 1.4 acre plots along Jalan P. Ramlee in Kuala Lumpur would be the sites for TA Two and TA Three high-end condominium blocks.

Another project being considered is a proposed gated community of about 36 luxurious town houses on 3.2 acres along Jalan Beringin in Damansara Heights. The three-storey houses would have built-up areas of between 2,200 and 4,000 sq ft.

TA Two, adjacent to the company's Menara TA One office complex, looks set to be the company's first condominium development if the launch takes place this year.

With a proposed height of about 34 storeys, there would be 240 condominiums with built-up areas of 1,500 to 2,000 sq ft which are priced at about RM450 per sq ft (psf). The penthouse units would be around 3,500 sq ft.

This would be followed closely by TA Three, which offers two blocks of “very exclusive” condominiums, fronting the Kuala Lumpur City Centre (KLCC) twin tower. The condominiums would have built-up areas from 1,500 sq ft, with a price tag from RM500 psf.


For those who have some “stashed-away cash”, they have the opportunity to become owners of the four luxurious duplex units of about 7,500 sq ft, right on top of the twin blocks.


An aerial view of the Damansara Idaman project.
Mohamed said that with these projects, the contribution of TA Properties to the TA Enterprise group earnings would increase to around 15% to 20% in the next three to four years.

At present, the company's contribution is quite nominal, mostly from rental income from Menara TA One and some shop lots in Subang Jaya and UEP-Subang Jaya. The 37-storey Menara TA One with net lettable area of 368,254 sq ft is about 90% occupied and derived annual rental income of about RM5mil.

Its portfolio of properties overseas included the BC Gas Centre in Vancouver, Canada; TA Centre building in Johannesburg, South Africa; and the 363-room five-star Radisson Plaza Hotel in Sydney, Australia.

For the financial year ended Jan 31, 2003, TA Enterprise's net profit rose to RM15.8mil from RM10.4mil previously but revenue was down to RM150mil from RM192.6mil.

Mohamed said that although TA Properties had very strategic land banks, acquired before the regional financial crisis in 1997, “we considered ourselves lucky not to have launched the projects earlier, as we would have been caught like many others when the crisis hit the country.”

“In hindsight, this has been a blessing as with the economic recovery and bullish market sentiment now, we feel this year is the best year to launch our projects.

“With the land free of encumbrances, we also have the flexibility to adjust to the best timing to get the best response for our properties.”

The company also owned 1,013 acres in Bukit Beruntung, 95 acres in Kluang, Johor, and 5 acres in Ipoh, Fraser Hills and Port Dickson. Rabindran said the company was on the look out to expand its land bank in strategic areas in the Klang Valley.

“The best choice will be land of sizes between 60 and 70 acres which will be good for niche residential development, including those in the price range from RM500,000.”

The firm kicked off its first property project in 1995 - the Pandanmaran Industrial Park in Klang - which comprised mainly light industrial factories and shop lots.

To develop the remaining phases of the project into low-cost apartments and double-storey link houses, it has entered into a joint venture with Mixwell (M) Sdn Bhd, a unit of Siah Brothers Corp Bhd.
 

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you are you and i am me..
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Re: Get ready for Menara TA2(34 storeys) & "very exclusive" Twin TA3

Originally posted by baqthier

TA Two, adjacent to the company's Menara TA One office complex, looks set to be the company's first condominium development if the launch takes place this year.

With a proposed height of about 34 storeys, there would be 240 condominiums with built-up areas of 1,500 to 2,000 sq ft which are priced at about RM450 per sq ft (psf). The penthouse units would be around 3,500 sq ft.

This would be followed closely by TA Three, which offers two blocks of “very exclusive” condominiums, fronting the Kuala Lumpur City Centre (KLCC) twin tower. The condominiums would have built-up areas from 1,500 sq ft, with a price tag from RM500 psf.


For those who have some “stashed-away cash”, they have the opportunity to become owners of the four luxurious duplex units of about 7,500 sq ft, right on top of the twin blocks.

still got land ke at that area? where to build TA2 and TA3 :?
 

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Jian Fa
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wah KLCC will have many condominium in the future...cool...hope they can built them taller;) over 50 stories:D
 

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Penang Skyscrapers Hunter
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will ken yeang design them as well??
 

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you are you and i am me..
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Re: Re: Re: Get ready for Menara TA2(34 storeys) & "very exclusive" Twin TA3

Originally posted by szehoong

got what....so many empty land next to TA1......hope they fill up all of em! ;)
Ada ke? Tak perasan pun :?
 

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Soon KL will be a 'really' densed skyline!:D
I think the Towers are designed by Kean Yeang.I've seen the rendering for TA2 bfor.If not mistaken its gonna based on oganic design.
 

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you are you and i am me..
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Originally posted by TYW

will ken yeang design them as well??
Hmm...why everybody seem to have this idea that Ken Yeang will design the TA2 and TA3. Did he design the original TA Tower then ?
 

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Penang Skyscrapers Hunter
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Originally posted by ZaHiRnYa???

Hmm...why everybody seem to have this idea that Ken Yeang will design the TA2 and TA3. Did he design the original TA Tower then ?
yes! he did design it;)
 

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you are you and i am me..
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baqthier said:
Any news or activity? ;)
Well it is said that it will be launched this year..hope not as late as december heheh
Why it cannot be launch in December :? Any significant reason on your behalf ke ;)
 

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RISING LIKE A SPIRE!
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Discussion Starter · #14 ·
TA3 will have 45 floors!

Appetite for the high life in KL

Property developers see lifestyle, comfort and facilities as key factors likely to woo well-heeled buyers aged 35 and over, says DIANA OON ABDULLAH

MALAYSIANS with cash in hand and a propensity to spend on property are going to deliver the next big push for the residential property market in the Klang Valley, particularly for higher-end inner city developments, property consultants say.


Looking good: analysts see promising times ahead for the residential property sector in Kuala Lumpur and its suburbs

Inner city residential developments in the Klang Valley would do well to target the mature market of buyers aged 35 and over, where affordability is not a key issue but matters of lifestyle, comfort and facilities are what get the buyers, said Fahariah Abdul Wahab, research director with property consultants Henry Butcher, Lim & Long at a recent conference in Kuala Lumpur on the Malaysian property market.

'It is the 40-something to 60-something buyers with cash to spend and no concerns over expenses as matters like children's' education have been taken care of, who can and will spend on good investment properties,' noted Lim Eng Chong, director at Henry Butcher in Kuala Lumpur.

Developers seeking to cater to the appetite of local investors for property in the immediate city area of Kuala Lumpur have offered both small and mid-sized luxury apartments which have found buyers despite apparently prohibitive price tags starting at above RM500,000 (S$225,500) and going as high as RM2.5 million each.

Last year saw an almost complete sell-out of Stonor Park, a 71-unit twin-block development on Pesiaran Stonor, in the vicinity of what is the 40-hectare Kuala Lumpur City Centre (KLCC) development.

The advantages of being at the doorstep of the 88-storey Petronas Twin Towers, the KLCC park and Suria KLCC mall as well as having the many commercial buildings and bank offices literally a stone's throw away persuaded buyers to part with sums starting from RM1.5 million to RM2.5 million for apartments between 2,300 and 3,300 sq ft in size.

Swift take-up

Other new additions to the KLCC skyline include the Marc, another twin block high-rise development that will have over 550 apartments when completed.

Again, take-up for the first 279 units launched in the first block offered for sale last year was swift and certain, with the 16 larger-sized units prices at between RM2.4 million and RM2.7 million proving very popular.

Developers of the Marc are said to be considering opening the second block in the development for sale to individuals this year, changing a previous plan to sell it en-bloc to an institutional investor to be managed as serviced apartments.

The biggest offering in terms of inner city apartments this year will undoubtedly be the launch of the KLCC Holdings' 161-unit luxury development, which will offer units between 2,200 sq ft and 3,700 sq ft in size.

The target launch date has been moved from the first quarter of this year to somewhere towards the middle of this year, the developers said, due to delays in completing the project's show units.

Buoyant market

Observers note, however, that the pattern of pricing for inner city projects suggest that a later launch could mean a more buoyant market and therefore, pricing higher than even the rumoured RM1,000 psf asking price that KLCC Holdings is said to be looking at.

'The time seems right to be getting into the market. Our ringgit is undervalued by almost 15 per cent, according to currency experts, and prices have not moved substantially in the last three years. Some movement upwards in the last six months suggests that we are at the start of an up-cycle,' said Henry Butcher's Mr Lim.

Another developer banking on the attraction of living near KLCC is TA Properties, which is planning its maiden high-rise condominium project, TA III on Jalan P Ramlee, on a one-hectare site facing Suria KLCC.

A 45-storey development offering units between 1,600 and 1,800 sq ft is currently seeking planning approvals, and a launch could happen late this year or early next year, said TA III project manager John Lee.

'We have been studying the trend, that people are looking for living space in KL city. Previously they wanted homes in the suburbs, but now, with traffic increasing the time taken for the daily commute, more people appear to want to live in the city. We are targeting young executives, locals and foreigners alike,' he said, adding that based on present market conditions selling prices for TA III might be around RM400 to RM600 psf.

On the other hand, there are those who hold the view that buyers will still move outwards into suburbs, as long as they offer integrated facilities - that is, commercial offices alongside retail malls and residential homes. In fact, this is the trend that ReGroup Associates research director Iskandar Ismail perceives in the Klang Valley residential market.

'It is about moving the centre of activity. A housing development which offers buyers a place to live, work and play without the long commute will do well,' he said, noting that the prime suburb Damansara was the first to offer that concept. This is now being extended to Mutiara Damansara, Bandar Utama, and Taman Tun Dr Ismail, adjacent housing developments in Petaling Jaya.

Mutiara Damansara is the newest of the three. Here actual transaction data has recorded homes selling for between RM418,000 and RM473,000 in 2001 and going up to RM420,000-RM550,000 within a year.

Late last year, the project's developer had a queue of 3,000 names for a launch of 16 bungalow units in Mutiara Damansara, priced at RM1.6 million to RM1.9 million.

Earlier phase launches of bungalows in the same development went for around RM1.1 million in early 2002.

The entire development site of 143.8 hectares also houses major retail complexes, including a 360,000 sq ft Ikea, the chain's biggest store in Asia, and the 420,000 sq ft Ikano Power Centre. Alongside that, there will also be commercial development in 20 commercial lots adjacent to the retail developments in Mutiara Damansara.

The combination of retail, commercial and residential space, and the accompanying ancillary services, in one accessible location is something that will draw both local and expatriate communities, Dr Iskandar said, making homes in Mutiara Damansara attractive to end-users and investors.
 

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Ermm... actualli which part of klcc..?? im not veri firmiliar wit the road names in kl or klcc~ anyway~ hope they start this project soon~ it sure will make klcc skyline much denser~ :eek:kay:
 

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if anyone goes to page one or kinokuniya,look for a book called worlds tallest buildings.It was published around year 2001.in there you can see the TA 2 and 3
 
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