Naza TTDI Sdn Bhd, the property development arm of Naza Group, intends to develop further housing projects within the Taman Tun Dr. Ismail (TTDI) township in Kuala Lumpur.

Chief executive officer Daniel Lim said the company has pockets of land for development within TTDI and anticipates the township to be fully developed in another ten years.

The majority of the land is now occupied by several petrol kiosks and are conveniently placed within the well-established TTDI neighbourhood.

TTDI Development Sdn Bhd, which began developing the TTDI township in 1973, was renamed Naza TTDI after the Naza Group acquired the former.

According to Lim, the demand for houses in TTDI continues to rise as a result of its strategic location and connection, as well as the fact that it is the only township with three open parks.

"In the 1970s, a terrace house in TTDI cost less than RM100,000. The price rose to over RM300,000 in the 1990s and around RM500,000 in 2000. Depending on the condition, it is now worth between RM1.2 million and RM1.5 million.

"Property values in TTDI have been continuously rising. Prices remained constant even during the recession. The company has received a lot of inquiries about when it will launch further housing projects in TTDI," he told NST Property.

Naza TTDI, which is celebrating its 50th anniversary this year, plans to launch six new projects totaling RM3.5 billion over the next three years, one of which would be located in TTDI.

Lim said that TTDI Za'aba Residences will be launched along the Persiaran Za'aba area in the first quarter of 2023.

TTDI Za'aba Residences would have 135 serviced apartments and retail units in a single tower, with a GDV of RM226 million.

According to Lim, over 3,000 people have expressed interest in the residences.

"This is a one-of-a-kind development, and we are convinced it will sell quickly. We are nearing the end of the process of obtaining advertising permit," he said.

Lim expects that TTDI Za'aba Residences will be a development that boosts the confidence of the housing market.

The other five new launches are TTDI Alam Impian Phase 2A Shah Alam (link homes and super link homes), TTDI Alam Impian Phase 5A Shah Alam (two and three-storey shops), MET7 @ KL Metropolis (integrated development), Naza Auto Mall, Section 15a PJ (mixed development), and Plentong, Johor Bharu (service apartments and retail).

"Some of the projects will take three years to complete, while the others would take between five and six years. We will consider additional launches based on demand and market conditions," he said.

Meanwhile, to commemorate its 50th anniversary, Naza TTDI has planned a number of events between January and July of this year.

Among them include cycling activities in KL Metropolis, trekking in TTDI, and tree planting.

"We'd want to take this opportunity to thank our home buyers and the general public. Not many property developers can cross 50 years and we are growing strong," he said.