Damaisuria has a GDV of RM1.5 billion and is slated for completion in 2034
This article first appeared as 'Damaisuria set to be one of Titijaya Land’s biggest townships' in City & Country, The Edge Malaysia Weekly, on July 29, 2019 - August 04, 2019.
Titijaya Land Bhd’s executive director Charmaine Lim welcomes City & Country with a beaming smile as we enter the group’s new, lofty Damaisuria sales gallery in Bukit Subang on Tuesday. Damaisuria is Titijaya Land’s latest offering and its first residential township comprising mostly serviced apartments.
“We acquired this 46-acre tract about two years ago. It will be one of our biggest townships,” Lim says.
“We thought it would be good to introduce a residential township of serviced apartments. Developing serviced apartments has been one of our fortes as a group.
“Before our first launch on July 27, 40% of the apartments were already booked. The first phase is called Seiring Residensi, and it comprises four towers with 1,318 units. The first tower (Tower A) has already been released and will have 370 units,” says Lim while conducting a quick tour.
Damaisuria in Bukit Subang comprises residential towers with a few retail and commercial components, and has a gross development value (GDV) of RM1.59 billion. The gated township will be delivered in stages over the next 15 years, and is slated for completion in 2034.
The 7.6-acre Seiring Residensi has a GDV of RM677 million.
“We are targeting mainly owner-occupiers for the first phase. So far, we have received a lot of queries from those who live in the surrounding areas. Our plan is to attract couples, families and those who are working in Damansara.”
The 34-storey Tower A is scheduled to be completed within 48 months of its launch. Its units will have built-ups of 668 to 972 sq ft with a choice of layouts from 2 bedrooms and 1 bathroom to 4 bedrooms and 2 bathroom. The selling price starts at RM459,000. “We will provide at least two parking bays for each unit,” says Lim.
“Our strategy is to keep our pricing attractive and affordable. We also keep our layouts as functional and practical as possible to fit our target market,” she explains. “With its location, pricing and unique selling points, we are confident that this project will perform well.”
A verdant concept
Seiring Residensi promises to captivate potential buyers with its location, quality and pricing. The group is banking on nearby catchment in Shah Alam, Subang and Kota Damansara.
Seiring Residensi will adopt a green concept. “In terms of design, it will be inspired by landscapes and greenery. There will be natural, eye-catching design elements such as butterfly motives at the entrance of the phase. Meanwhile, the apartments will have clean lines and contemporary design,” says Lim.
One of the key features of Phase One is the 1.85-acre linear park. “We have designed the park as a place for the residents to gather and form a community in the long term,” Lim explains.
Seiring Residensi also has ample facilities such as a rooftop deck and lounge, multipurpose room, playground, pavilion, jogging track, reflexology path, spice garden, yoga deck, sand pit, open lawn, swimming pool, wading pool, BBQ corner, a prayer room and gym.
Meanwhile, the development features a multi-tier security system. “One of the key things that we prioritise is security. Seiring Residensi will have a foldable gate [at the main entrance], a guardhouse [that requires access card and a barrier gate], lift access to the lobby and other facilities,” says Lim. There will also be closed-circuit television (CCTV) surveillance and anti-climb perimeter fencing.
Location and connectivity
Lim points out the desirability of Damaisuria’s location, which is in the vicinity of Subang, Shah Alam and Kota Damansara. The township is poised to attract occupiers and investors from the neighbouring mature areas.
“Damaisuria is located in a strategic, up-and-coming location. We see great potential in this location, and the fact that it is connected to established areas such as Subang and Kota Damansara,” says Lim.
“We are anticipating that the proposed Damansara-Shah Alam Elevated (DASH) Expressway will help boost activity in the area. In terms of connectivity, Damaisuria will also be accessible via the New Klang Valley Expressway, Guthrie Corridor Expressway and North-South Expressway Central Link.”
As for the project’s commercial elements, the group is partnering with a supermarket. “We will feature a 2.24-acre supermarket. We are adding more conveniences as we go along to ensure the development’s sustainability,” Lim says.
“The residents of Damaisuria will be able to enjoy various conveniences in the nearby area. The project is just a stone’s throw from the Sultan Abdul Aziz Shah (Subang) Airport.”
The nearby amenities include Star Avenue Lifestyle Mall, Mydin Bukit Jelutong, Jaya Grocer, Ramsay Sime Darby Medical Centre, Thompson Hospital Kota Damansara, Denai Alam Recreation Club and Monterez Golf & Country Club.
“The schools include Sekolah Jenis Kebangsaan (Cina) Subang, Sekolah Kebangsaan TUDM Subang and Sekolah Menengah Kebangsaan Subang Bestari,” says Lim.
Titijaya Land maintains that it will focus on high-quality but economical projects in the future. “Apart from Damaisuria, we are planning to launch the second phase of Riveria City and the second phase of 3rdNvenue. Previously, we launched office suites in the aforementioned projects,” says Lim.
“But our focus will shift to building mainly serviced apartments for this year and next year, with a pricing that is less than RM1 million. This is one of the best-performing segments, and our [bread-and-butter] projects.”
Titijaya Land’s latest portfolio includes Casa Tiara, E-Tiara, Tiara Square Business Centre, First Subang, Subang Parkhomes and Subang SOHO in Subang Jaya and Mutiara Bukit Raja in Klang. The developer’s ongoing projects are H2O Block B, Seri Alam, 3rdNvenue, Riveria City and The Shore in Kota Kinabalu.
Founded in 1997 by group managing director Tan Sri Lim Soon Peng, Titijaya Land is known for its affordable, good-quality products. The group began by building 2-storey terraced houses and 3-storey shopoffices in Taman Bukit Cheras in Kuala Lumpur, and 2-storey terraced houses, residential lots and low-cost apartments in Klang.
In FY2018, the group made a net profit of RM71 million on revenue of RM381 million. “As at March this year, the group had achieved unbilled sales of RM363 million,” says Lim. To date, Titijaya Land has 208 acres of land bank — located mainly in the Klang Valley, Penang and Sabah — with a GDV of RM2.8 billion. “We are always on the lookout for land, if the opportunity and pricing are right. It’s the nature of the business,” Lim adds.
In terms of future plans and outlook, the group appears sanguine. “We believe that demand is still intact, and we are still seeing encouraging sales despite the sluggish market. We are positive that the projects will continue to perform well, and that the overall property market will continue to correct itself,” says Lim.