PETALING JAYA: TH Properties, through its joint venture company 59 Inc Sdn Bhd, launched the first phase of Kota Semarak, Padang Residences located at Jalan Sultan Yahya Petra, with a gross development value (GDV) of RM3bil.
Padang Residences is also the first project of 59 Inc, a 70:30 joint venture between TH Prop and Malaysian Resources Corporation Bhd (MRCB). It will have a total of 1,226 units of serviced apartments in four towers, including 100 units of Rumawip and 29 units of shop offices and earmarked to be completed in February 2027. It offers two to four-bedroom units, sized between 802 sq ft and 2,400 sq ft, with carefully oriented layouts to maximize access to a panoramic view of the city skyline.
TH Property board member Datuk Wan Hashimi Albakri Jaffri said that Kota Semarak buyers will enjoy numerous green features such as an electric vehicle charging station, scooter station, multi-tier security, environmentally friendly waste management system and rainwater harvesting system. The development is in line with the group’s effort to minimise its ecological footprint and align its practices with the National Sustainable Development Goals.
With just 4km from KLCC, easy access to Duta Ulu-Kelang Expressway (DUKE) and proximity to amenities such as KLCC Park, Kelab Golf Titiwangsa PDRM and Setapak Golf Range, the development will appeal to busy urban dwellers, young professionals and small families looking to experience a better quality city lifestyle. Kota Semarak is also ideal for long-term investment due to good connectivity and proximity to reputable hospitals and educational institutions such as Kuala Lumpur Hospital, National Heart Institute and Universiti Teknologi Malaysia Kuala Lumpur.
TH Property is a wholly-owned subsidiary of Lembaga Tabung Haji and a seasoned player in the industry, having been active since 1980 through the establishment of Syarikat Pembinaan dan Perumahan Tabung Haji Sdn Bhd. Currently, its key areas of expertise are property development, construction and facilities management.
Apart from Kota Semarak, other developments by TH Property include Pristine Premier and Riposo Biz Centre in Bandar Enstek, Tierra and BizCentre Phase 2 in Warisan Puteri 2, Seremban, techpark@enstek, Pesisiran Residences in Kuantan, Pahang and Sofea Residensi in Kota Bahru, Kelantan.
Source: https://www.starproperty.my/news/th-properties-launches-padang-residences/127509