Naza Corporation Holdings’ real estate division, Naza TTDI, targets to sell 80 percent of the serviced residences at the 4.29-acre MET 1 precinct within its KL Metropolis integrated project by year-end, reported The Edge.
With a gross development value (GDV) of RM1.3 billion, the precinct consists of serviced residences, two office towers, and two retail malls with a combined net leasable area of around 81,000 sq ft.
“In the first two months of our launch, we have received very good responses from the public, with almost half of the 616 units taken up,” said SM Faliq SM Nasimuddin, Deputy Executive Chairman and Group Managing Director of Naza TTDI.
The serviced residences were unveiled earlier this year, with prices ranging from RM1,000 psf to RM1,100 psf. Built up areas measure between 650 sq ft and 1,600 sq ft.
“For our offices, we are speaking to several potential investors and we hope for plans to materialise by this year. As for our retail [space], we are still holding on to it for now.”
Naza TTDI also intends to construct a four-star hotel, with completion targeted by mid-2018, shared Faliq after officiating the ground breaking ceremony for the Metropolis Park on Monday (3 April).
The company also pledged to donate RM20 million to adopt the park under the Greener KL initiative. This is part of Naza TTDI’s corporate social responsibility to help improve and preserve the green spaces in Klang Valley.
“Metropolis Park is currently the largest park to be adopted in 2017. What’s more important is that Naza TTDI proactively approached Kuala Lumpur City Hall with this initiative. I hope there will be more corporations and private organisations out there that will do the same in the near future,” said Minister of Federal Territories Tengku Adnan Tengku Mansor, who attended the event.
Located close to the Malaysia International Trade and Exhibition Centre (MITEC), the five-acre park is expected to be completed in Q1 2018, with Naza TTDI committing to manage it for 15 years.
Metropolis Park features an amphitheatre, a sculpture park, kinetic fitness stations, jogging park, a dry and wet playground, as well as a 27,000 sq ft information centre and community hall with rooftop lawn.
The park is situated within the 75.5-acre KL Metropolis, which comprises eight precincts. The RM20 billion project is targeted to be completed in phases spanning over 15 years.
Among NAZA TTDI’s latest development:
1. MET 1 Residences, KL Metropolis
Image sourced from NAZA TTDI
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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