TH Properties Sdn Bhd, the property development arm of Tabung Haji, is planning the third phase of One The Waterfront in Australia.
One The Waterfront at Wentworth Point, about 13km from the Sydney Central Business District, has a gross development value (GDV) of A$500 million (RM1.5 billion).
It is one of the three residential projects with a total GDV of RM3.5 billion carried out by Piety THP Developments Pty Ltd, a 50:50 joint venture between TH Properties and Piety Group.
The other two projects are Bay Pavilions (272 apartments) which was completed and handed to purchasers in February last year, and Imperial Hurstville (229 apartments and retail lots), targeted for completion in May next year.
One The Waterfront has 678 apartments priced from A$639,000 each, and is being developed in three phases.
Phase 1 consists of 136 units, of which 89 per cent have been sold. The targeted completion date is May next year.
The second phase, with 287 units, will begin construction in March next year and is 71 per cent sold.
Phase 3, with more than 200 units, could be launched next year.
TH Properties has been gaining international recognition. Its TH Hotel and Convention Centre (THHCC) Kuching in Sarawak bagged the “Best International New Hotel Construction and Design” award at the International Property Awards 2017 in London recently.
THHCC Kuching beat four other regional winners from Europe, the United Kingdom, Canada and the Middle East.
TH Properties group managing director Datuk Roszali Othman said the award recognised the project’s exceptional architecture which featured the distinctive Pua Kumbu (multi-coloured, hand-woven fabric of the Iban tribe) roof design.
“TH Properties’ achievement at the International Property Awards underscores the company’s commitment to innovation, high quality and the ability to execute projects with attention to detail,” he said in a statement.
Roszali said the award was the highest recognition it received so far and served as an important yardstick of the progress that the company has made over the years.
“This put us on par with other developers in the world.”
THHCC Kuching will offer 237 hotel rooms and a 1,090-seat convention hall upon its completion next year.