Monday, July 8, 2013

TA Lines Up New Launches

The TA group has a total landbank of 1,214 acres. Tiah said the landbank it has on the local front were purchased via internally-generated funds and not through bank borrowings. Despite having so many projects to work on, Tiah said TA Global would launch just a handful of them in stages. For this year, she said the company would be launching at least three property projects this year with a combined GDV of about RM2.5bil. “We’re targeting to launch our Ativo small office flexible office (Sofo) by the third or fourth quarter of this year,” said Tiah. The project comprises of 970 units of Sofo units and has a GDV of RM390mil. Tiah said the price of the units range from RM300,000 to RM500,000. The Ativo Sofo is part of the company’s Damansara Avenue development in Bandar Sri Damansara. The Sofo units will be developed on two towers, comprising 509 units and 461 units.
Apart from the Sofo units, the mixed commercial Damansara Avenue development also has retail and office suites (Ativo Plaza) as well as high and low-rise residences (Azelia Residence). Tiah said 97% and 90% of the Ativo Plaza and Azelia Residences respectively has been sold. The Damansara Avenue development has a total GDV of RM3.8bil.
Separately, Tiah said TA Global would also be launching the first phase of its The Peninsular mixed residential project in Puchong by either the third or fourth quarter of the year. “The first phase will comprise 98 units of 2½ and three-storey superlink houses. Prices range from RM900,000 to RM1.1mil per unit.” The Peninsular has a GDV of RM600mil. The first phase meanwhile will have a GDV of RM107mil. The Peninsular project is a joint development of Oaxis Sdn Bhd, which sits on 92 acres of freehold land. TA Global, via its TA Properties Sdn Bhd, has a 25% interest in the development and is the exclusive sales and marketing agent for the project. The Peninsular will comprise high-rise condominiums, low-rise residences, superlinks, semi-detached units, bungalows, commercial lots and a club house.
Additionally, Tiah said the Trump International Hotel & Tower Vancouver condominium project by Canada-based Holborn and the TA Group is expected to be launched in October. The project is a 63-storey mixed used development comprising a luxury hotel with 147 hotel rooms, 218 high-end residential units, a four-level podium housing the hotel amenities and an eight-level underground parkade, with a projected total GDV of C$496.4mil (RM1.5bil).

Source: TheStar