Kuala Lumpur, 27 February 2024 – TH Properties Sdn. Bhd. (“TH Prop/the Group”), through its joint venture company, 59 Inc. Sdn. Bhd. (“59 Inc.”) launched Padang Residences, today. Padang Residences is the first phase of Kota Semarak, its maiden high-rise mixed development project in the heart of Kuala Lumpur.
With a gross development value of RM3,098,720,916, Kota Semarak is also the first project of 59 Inc., a 70:30 joint venture between TH Prop and Malaysian Resources Corporation Berhad (“MRCB”).
Located on a prime 27-acre land in Jalan Sultan Yahya Petra or previously known as Jalan Semarak, Kota Semarak will be developed in three phases, comprising the components of serviced apartments, shop offices and a retail mall. The development offers contemporary and well-thought-out designs of 2 to 4 bedrooms units, sized between 802 sq. ft. to 2,400 sq. ft., with carefully oriented layouts to maximize access to a panoramic view of the city skyline.
Padang Residences, which 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; is earmarked to be completed in February 2027.
Speaking at the launch ceremony today, TH Prop board member, Dato’ Wan Hashimi Albakri bin W.A.A 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.
With just 4 km 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 education institutions such as Kuala Lumpur Hospital, National Heart Institute and Universiti Teknologi Malaysia Kuala Lumpur.
In a statement to the press, TH Prop indicated that the development is a springboard to a long-term plan of providing a more environmentally friendly and sustainable living environment in the Group’s projects. The initiative is part of the Group’s effort to minimize its ecological footprint and aligning its practices with the National Sustainable Development Goals.
With extensive experience in residential and commercial property development, TH Prop emphasises curating its development to deliver a sustainable lifestyle for homeowners and the community surrounding it. Going forward, the Group is rethinking ways to incorporate more green features for its developments and to cater to the growing need for people-centric designs.
“The appetite for our products stays strong as demonstrated by the sales of our industrial and residential products in Bandar Enstek and Warisan Puteri 2, Seremban. We plan to sustain this momentum with better products and we hope to continue receiving robust supports from buyers and investors alike,” added Dato’ Wan Hashimi.
Apart from Kota Semarak, other developments by TH Prop 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.
TH Prop 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.
Its largest township at the moment is Bandar Enstek in Negeri Sembilan, at 5,119 acres. Located near the KLIA and KLI2, Bandar Enstek is a mature township with more than 2,842 homes completed and handed over to owners since its construction in 1999.
