Titijaya Land Unveils The Ria: New Serviced Apartment Development in KL Sentral
Titijaya Land Bhd (KL) announced the launch of its latest serviced apartment development, The Ria, on July 27, 2024. According to a press statement released the following day, The Ria is a 63-storey residential tower located in KL Sentral, Kuala Lumpur. This development is part of the second phase of the transit-oriented development (TOD) known as Riveria City, a joint venture between Titijaya and Prasarana Integrated Development Sdn Bhd.
Project Details and Offerings
The Ria offers a total of 752 residential units configured into two to three-bedroom apartments. The units have built-up areas ranging from 650 to 800 sq ft, with prices starting from RM685,000. The project boasts a gross development value (GDV) of RM588 million, reflecting its significant contribution to the Kuala Lumpur property market.
Success of The Riv
In addition to launching The Ria, Titijaya Land also announced the completion of the first phase of Riveria City, known as The Riv. The Riv is a 54-storey development comprising 784 office suites, which have all been sold out. This development has a GDV of RM374 million.
Datuk Lim Poh Yit, group managing director of Titijaya Group, expressed excitement over the success of The Riv and the positive market response to The Ria. “We are thrilled to announce that we have achieved a 100% take-up rate for The Riv, along with the successful completion of the tower building. The Riv’s commercial success reflects the market’s strong appetite for high-quality, prime real estate in Kuala Lumpur, as well as a high level of confidence in the future of Riveria City,” said Lim.
Financing Collaboration with Maybank
To further enhance the attractiveness of The Ria, Titijaya Land has signed a memorandum of understanding (MOU) with Maybank to offer a financing solution called Maybank MyDeco Financing. This scheme aims to provide prospective homeowners with additional liquidity and immediate access to funds for home interior design, including furniture, appliances, and decorations.
Datuk Hamirullah Boorhan, Maybank Group head of community financial services Malaysia, commented on the collaboration: “We are delighted to announce our collaboration with Titijaya, introducing the Maybank MyDeco financing scheme to prospective homeowners.” He added that this financing option exemplifies Maybank’s commitment to Humanising Financial Services by offering comprehensive solutions to meet the diverse needs of its customers.
Under the Maybank MyDeco Financing scheme, homebuyers can obtain home financing of up to 90% of the property value and an additional 30% (up to RM250,000) financing for interior design. The financing duration can extend up to 10 years or until the age of 70. This scheme is available as both a conventional loan and Islamic financing for existing Maybank and Maybank Islamic Home Financing customers.
Future Prospects
The unveiling of The Ria and the successful completion of The Riv underscore Titijaya Land’s strong position in the Kuala Lumpur property market. The strategic location of Riveria City in KL Sentral, combined with attractive pricing and comprehensive financing options, positions it as one of the most promising TOD projects in the Kuala Lumpur Central Business District (CBD).
With the considerable interest received during the preview of The Ria, Titijaya Land is confident that Riveria City will continue to attract homebuyers and investors looking for prime real estate opportunities in Kuala Lumpur. As the development progresses, it is expected to significantly enhance the urban landscape and contribute to the city’s growth and development.
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