KUALA LUMPUR (Feb 26): TH Properties Sdn Bhd and Malaysian Resources Corp Bhd (MRCB), through a 70:30 joint-venture company named 59 Inc Sdn Bhd, officially launched serviced apartment Padang Residences on Monday, according to a press statement. 

Padang Residences is part of the RM3.09 billion Kota Semarak mixed development in Jalan Sultan Yahya Petra, Kuala Lumpur. Kota Semarak is a 27-acre (10.93-hectare) leasehold mixed-development project to be developed in three phases. It will comprise serviced apartments, shop offices and a retail mall. The entire development is expected to be completed by June 2027. 

TH Properties board member Datuk Wan Hashimi Albakri W A A Jaffri said, “The appetite for our products stays strong, as demonstrated by sales of our industrial and residential products in Bandar Enstek and Warisan Puteri 2, Seremban. We plan to sustain this momentum with better products, and we hope to continue receiving robust support from buyers and investors alike.”

Occupying 7.26 acres, the RM857 million Padang Residences will have four towers, with a total of 1,226 units. The built-ups will range between 802 sq ft and 2,400 sq ft, and come with two- to four-bedroom units. Selling prices are from RM580,000 to RM1.45 million. 

In addition, 100 units have been dedicated for Federal Territories Affordable Housing Project (Rumawip) units. These units have a built-up of 802 sq ft and a selling price of RM300,000. 

Padang Residences will also have 29 units of three-storey shop offices. Selling prices start from RM3.7 million.

Some green features to be incorporated in Padang Residences are an electric vehicle charging station, scooter station, multi-tier security, waste management system and rainwater harvesting system. 

The target market consists of urban dwellers, young professionals and small families. 

Padang Residences is slated for completion by February 2027.

The high-rise is accessible via the Duta Ulu-Kelang Expressway (Duke), with close proximity to amenities such as KLCC Park, Kelab Golf Titiwangsa PDRM and Setapak Golf Range, Kuala Lumpur Hospital, National Heart Institute and Universiti Teknologi Malaysia Kuala Lumpur.