TH bullish about new township


  • Business
  • Saturday, 14 Mar 2009

TH Properties Sdn Bhd is confident that the location of its latest project, Bandar Enstek, will attract and boost sales despite the current economic slowdown.

Located 10 minutes from the KL International Airport (KLIA) and 20 minutes from Putrajaya and Cyberjaya, the township is well connected to highways such as the North South Expressway and Express Rail Link.

Chief executive officer Zaharuddin Saidon says about 60% of the buyers are civil servants working in Putrajaya while the remaining worked at the KLIA and other parts of the Klang Valley.

Although the country is starting to feel the impact of the crisis, the company’s target buyers, who are mostly civil servants, are still secure in their jobs, he says.

Bandar Enstek comprises residential, commercial and industrial properties with a gross development value of RM9.3bil.

It is scheduled for completion in 2025.

TH Properties, which has 20 years’ experience as a developer, has other projects including Bandar Muazzam Shah in Pahang and Warisan Puteri township in Negri Sembilan.

Bandar Enstek is now the biggest development undertaken by the company.

The houses at Bandar Enstek are priced from RM170,000 for single-storey houses, RM250,000 for double-storey terrace houses, RM300,000 for super link houses and RM600,000 for bungalows.

“TH Properties is the only developer in the country to offer a five-year warranty for any of its properties.

“Our gearing is zero and our funds are all internal. That’s why not a single project by us has been abandoned, “ he says.

Going forward, he says, TH Properties plans to unlock land belonging to its parent Tabung Haji for development purposes.

It is also moving into other international markets such as Saudi Arabia.

The company will be launching a new commercial building in Kuala Lumpur by April.

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