KUALA LUMPUR, 24 JANUARY – The worst for the property market seems to be over, as exemplified by the overwhelming response from buyers for 3rdNvenue located at Jalan Ampang. 3rdNvenue is the latest property development by Titijaya Land Berhad, a reputable property developer listed on the Main Market of Bursa Malaysia.
More than a thousand purchasers queued up at Pullman Hotel Kuala Lumpur on 8th January to register units as early as 4 am. Most were hoping to grab their preferred units of lifestyle office suites strategically located in the heart of Kuala Lumpur. Aimed at promoting the next generation city lifestyle, 3rdNvenue was inspired by the bustling vibe of Fifth Avenue in New York City.
Speaking at the event, Titijaya Land Executive Director, Charmaine Lim said the positive response from purchasers of 3rdNvenue shows the market confidence and strong follower base in property products by Titijaya Land, adding that this is a very encouraging sign of recovery in the local property market.
She disclosed that the first phase of development has a total of 1,110 units across 42 storeys which are currently for sale.
“Adorned with a prestigious address along Embassy Row at Jalan Ampang and surrounded by reputable malls, hotels, hospitals and various amenities, we are optimistic that we shall receive a good response for 3rdNvenue. The strong branding of Titijaya Land also plays a key role in attracting a large group of buyers,” she added.
3rdNvenue is the latest mixed property development by Titijaya and its joint venture partner, CREC Development (M) Sdn Bhd, which has an estimated gross development value of RM2.1 billion. Sitting on a piece of land measuring 6.06 acres, 3rdNvenue will comprise four blocks with a total of 2,400 units of lifestyle office suites, serviced apartments and retail lots.
CREC Development (M) Sdn Bhd is a wholly-owned subsidiary of China Railway Engineering Corporation (M) Sdn Bhd, which is in turn a wholly-owned subsidiary of the world’s second largest construction company, the Hong Kong-listed China Railway Group Limited.
“With the expertise and branding from both parties, we are confident that the development will spur high interests for commercial and residential properties within the prime area,” she commented.