Property Insight > News release > Titijaya holds a groundbreaking ceremony for its RM1.8 billion GDV 3rdNvenue at Embassy Row, Jalan Ampang

Titijaya holds a groundbreaking ceremony for its RM1.8 billion GDV 3rdNvenue at Embassy Row, Jalan Ampang

KUALA LUMPUR, 30 SEPTEMBER 2017 – Titijaya Land Berhad (“Titijaya” or “Company”), a Bursa Malaysia Main Market Listed Company involved in property development, has today held a groundbreaking ceremony for 3rdNvenue and officiating ceremony for its Sales Gallery located along Embassy Row at Jalan Ampang. The development has an estimated gross development value (“GDV”) of RM1.8 billion. The ceremony was duly officiated by the Minister of Federal Territories, YB Datuk Seri Utama Tengku Adnan bin Tengku Mansor. 

3rdNvenue is a mixed property development jointly developed by Titijaya Land and CREC Development (M) Sdn Bhd (“CREC”). The development is built on a piece of land measuring 6.06 acres. 3rdNvenue comprises four blocks with a total of 2,400 units of lifestyle office suites, serviced apartments, and retail lots. With its modern industrial design and vibrant colour scheme, 3rdNvenue is equipped with various facilities, such as swimming pool, gym, jacuzzi, sauna, business lounge, BBQ lounge, sky dining, nursery, entertainment room, and multipurpose hall, offering great convenience for its residents to promote a healthy work life balance. The selling price of the first phase of the development starts from RM299,000 for a 430 sq. ft. unit, representing a definite benchmark of affordability.

Speaking after the ceremony, Titijaya Land Berhad Group Managing Director Tan Sri Dato’ Lim Soon Peng said: “The positive response from purchasers of Neu Suites shows the market confidence and strong follower base for property products by Titijaya. This is also a very encouraging sign of recovery in the local property market. It clearly underlies the excitement that we feel for the property market here as well as our confidence and foreign confidence in the country’s stable and growing economy.”

“The location of 3rdNvenue – being the maiden project jointly-developed with CREC, will showcase Titijaya’s passion not only for the development of quality homes but also quality living environment. In addition, the partnership with CREC will complement our existing business in property development.,” Tan Sri Lim added.

3rdNvenue is just 3km away from KLCC. With only 4-minute walk to Great Eastern Mall and 10-minute walk to LRT Jelatek, it is surrounded by various amenities, including embassies, hotels, reputable malls, commercial buildings, hospital, international schools, banks, gas stations, among others. It also offers the convenience of exiting to Akleh without hassle. “We believe the accessibility of 3rdNvnue and especially as a project in downtown KL priced less than RM300,000, the property is affordable and worth buying for most Malaysians. Let us look forward to the completion of 3rdNvenue in 2024,” Tan Sri Lim added.

Targeting young professionals, entrepreneurs, and social high-flyers, 3rdNvenue fits the needs of the new generation, with its modern lifestyle pattern at affordable pricing, while offering all comforts and amenities sought by its target market. The Company believes that the demand for such offerings will be robust, going forward.

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