KUALA LUMPUR: Naza TTDI Sdn Bhd’s flagship residential tower at Platinum Park, here, will comprise 500 luxury residences with each worth over RM1 million.
Deputy executive chairman and group managing director SM Faliq SM Nasimuddin said the prices
start from RM1,700 per sq ft and
he is quite bullish on the take-up rate.
“We will offer bite-size units averaging 600 sq ft while the biggest unit will be around 1,200 sq ft. We plan to launch the units by the end of this year.
“We have another residential block, which we are planning to launch a year from now. It will have 500 units, with sizes starting from 600 sq ft,” he said after the topping- up ceremony of Naza Tower yesterday.
Faliq said both the residential towers will have a combined gross development value of about RM1 billion.
The RM4 billion Platinum Park is one of the largest integrated mixed developments in the city, and a stone’s throw from the Petronas Twin Towers.
Felda Tower and a 38-storey building for Lembaga Tabung Haji within the development have been completed, while Naza Tower is about 70 per cent completed and will be ready by early next year.
Faliq said the last component of the development will be an iconic mixed-use tower, featuring offices and a five-star hotel.
“Platinum Park will take another 10 years to develop. We are not in a rush to finish off the project as this is prime land and there is so much room for capital appreciation,” he said.
Property specialists are quite bullish on the residential offering at Platinum Park.
They opined that the properties are reasonably priced so more Malaysian property buyers could afford to buy them.
They believe that there will be good price appreciation, given that it is very strategically located and is complemented by several office towers and hotels.
The Binjai on the Park, developed by KLCC Holdings, was launched at RM640 psf in 2008, and the asking price now hovers around RM2,200 psf.
The Four Seasons Place, next to the Petronas Twin Towers, sold most of its 242 units at an average price of RM2,950 psf.