Naza TTDI maintains the RM20 billion KL Metropolis, a 75.5-acre mixed-use development, as its masterpiece in the Klang Valley. In anticipation of the sluggish property market in the first half of 2018, the property arm of Naza Group has put in place remedial strategies that are heavily supported by its continued development of the largest trade and exhibition destination in Malaysia.
Datuk Idzham Mohd Hashim, Executive Director and Chief Operating Officer of Naza TTDI Sdn Bhd says, “KL Metropolis remains a key focus development area. Sales from Met 1 Residences have been experiencing incremental pick up. We are confident that this trend will accelerate further into the second half of the year when we launch another product here very soon.”
Met 1 Residences was recently awarded Best Condo Development in Klang Valley by PropertyGuru Asia Property Awards 2018 (APA), Malaysia. Meanwhile, KL Metropolis received the award for Best Sustainable Community Development by Property Insight Prestigious Developer Award 2018 (PIPDA) in June 2018. The company’s optimism is backed by its upcoming launch of a product targeted at property investors. With a gross development value of more than RM350 million, this investment opportunity is intended to capture a niche property market segment that has not been fully addressed to its optimum potential. The unique offering takes over from the launch of TTDI Ayana that was announced earlier.
The second half of 2018 will also see the local private developer launching a retail component of MET1 at KL Metropolis. Alfresco dining, an upscale food court, luxury showrooms and relevant amenities targeted at the immediate catchment around Jalan Dutamas area characterise the retail component. Two other developments that are in the construction stage at KL Metropolis include The MET Corporate Office Towers by Triterra Metropolis Sdn Bhd and Arte Mont Kiara by Nusmetro Sdn Bhd. The MET is the first Grade A stratified corporate office towers in KL Metropolis, with two towers standing at 30 and 42 floors respectively. Arte Mont Kiara has a total of 1,706 serviced residences with built up from 422sqft to 1,142sqft. Both Triterra and Nusmetro are Naza TTDI’s joint-venture partners for KL Metropolis.
Idzham adds that as a local developer in tuned with local demand, Naza TTDI is intent on going to market with developments that have the right location, right value proposition and innovative design for its customers. However, the company is interested to venture overseas in the near future when the right opportunity presents itself.