Naza TTDI Sdn Bhd, the property arm of Naza Group, achieved sales of RM815 million last year, which marked its best performance ever in five years.
The Edge reported that this year, it is targeting lower sales of RM745 million amid overall weak consumer sentiments.
“We will focus on sales from the Met 1 component located in KL Metropolis; an en-bloc office tower; TTDI Sentralis, a mixed-use development located in Shah Alam and from the soon to be launched TTDI Ayana residential development at Kwasa Damansara,” said its executive director and chief operating officer Datuk Idzham Mohd Hashim in a statement on Feb 2.
Nevertheless, Naza TTDI is upbeat for the future as it has RM1 billion worth of unbilled sales that will help it stay ahead.
Idzham said the privately-owned company expects a healthy financial performance for 2018 as internal measures remain intact to ensure market sustainability.
In terms of the property market outlook, Idzham opines that there is likely to be an incremental pickup during the second half of 2018, as there is still market demand especially from the middle-income group.
“We have a growing middle class in Malaysia that would require homes in the coming years. Although the property industry is competitive, developments with good location and design would be able to reap greater success.
“We are now focused on going to market with developments that have the right location, innovative design and offer better value for our customers,” he added.
He also noted that with an average gross domestic product growth of 4.78 per cent from 2000 to 2017, Malaysia’s socio-economic condition is stable enough to sustain its competitive edge in the current soft economy.
On Naza TTDI’s part, it will be launching TTDI Ayana in the second half of 2018, which has a gross development value of RM400 million. Spanning 12.7 acres, the former rubber plantation will be developed into a luxury development comprising 212 condominium units and 112 townvillas. The units start from 1,421 sq ft to 3,090 sq ft.
According to Naza TTDI, 55 per cent of the land devoted to on-ground vegetation.
In a different event, Chryseis Tan and Faliq Nasimuddin, two scions of some of Malaysia’s largest fortunes, whose family business interests include property tied the knot Feb 3 at an intimate affair in Bukit Tinggi.
The wedding was held at The Chateau, a luxury resort that resembles a 12th century medieval “Haut Koenigsbourg” castle in Alsace, France that is touted as the world’s first organic spa and wellness resort by its owner the Berjaya Group, which was founded and is controlled by the bride’s father Tan Sri Vincent Tan.
According to The Star, Faliq had popped the question in Morocco at the end of June last year, amid a romantic profusion of blooms in the Hotel Royal Mansour.
The high-flying couple each hold leadership positions in their respective family businesses — Chryseis is chief executive of Berjaya Times Square, one of the largest malls in Kuala Lumpur, while Faliq is group managing director of property developer Naza TTDI Sdn Bhd.
The groom, 33, is the fourth of five children of the late founder of Naza Group, Tan Sri SM Nasimuddin SM Amin. Faliq is currently the deputy executive chairman and group managing director of Naza TTDI Group.
Chryseis, 29, is the daughter of one of Malaysia’s most recognisable tycoons, Tan Sri Vincent Tan, founder of Berjaya Corporation.
She is also the executive director of Berjaya Assets Bhd and an investor in several brands, including Greyhound Cafe and La Juiceria, and is known as a fashionable jet-setter.