LONDON: TH Properties Sdn Bhd, the wholly-owned property arm of Tabung Haji, is exploring with foreign partners to develop more residential properties abroad.
This is following the success of its residential projects in Sydney.
Group managing director Datuk Roszali Othman said TH Properties was currently exploring with foreign partners to develop residential projects in Jakarta, London, Melbourne and Perth.
“The important thing is to look for a suitable partner who can work with us to expand and also identify the right location for the project,” he said.
Roszali said that in Sydney, the company now had six development projects with a total gross development value of RM3.5bil.
He said the projects, being developed jointly with a local developer, were at various stages to completion.
“These include Bay Pavilions comprising 272 apartments, which was handed over to purchasers in February 2016.
“Meanwhile, the Imperial Hurstville (229 apartments and retail lots) is targeted for completion in May 2018. Currently, 223 units of the project have been sold,” he said.
Roszali said One The Waterfront, another lifestyle development by TH Properties consisting of 929 apartments at Wentworth Point, had also received tremendous response.
“Targeted for completion in May 2018, its first phase of 136 units has seen 121 units (89%) being sold.
“The second phase of 287 units will only begin construction work in March 2018 and currently, 204 units (71%) have been taken up. The third phase is now in planning stage,” he said.
TH Properties is projecting a pre-tax profit of RM94.12mil and a revenue of RM440.66mil for its financial year 2017, compared with RM73.7mil and RM471.9mil, respectively, in 2016.
Meanwhile, TH Properties bagged the coveted Best International New Hotel Construction and Design and Best New Hotel Construction and Design Asia-Pacific awards for its TH Hotel and Convention Centre Kuching (THHCC Kuching) at the International Property Awards 2017.
Roszali said the awards were in recognition of the unique architectural theme and design of the 237-room hotel.
“The hotel, which costs RM204.7mil, is 95% completed. It should be ready in April 2018.
“Draped in a distinctive Pua Kumbu (indigenous fabric) roof design, the hotel and convention centre will set a new landmark, welcoming arrivals at the Kuching International Airport,” Roszali said.
Also present at the event were THP directors Datuk Mohd Fazillah Mohd Ali and Abd Kadir Sahlan.
As many as 1,000 entries from over 300 companies across 27 countries were submitted and judged by a panel of highly respected professionals covering the whole range of property disciplines.
The International Property Awards 2017 focused on quality of design, construction and presentation of individual properties and property developments, interiors, architecture and marketing.