This article first appeared in City & Country, The Edge Malaysia Weekly, on April 5, 2021 - April 11, 2021.
The serviced residences at Ativo Suites in Damansara Avenue, Bandar Sri Damansara, have seen very good take-up rates, with Tower A at 85% and Tower B, 95%. Situated on a 2.83-acre tract, the two towers — 33 and 28-storeys high — have a total of 668 units, which come in built-ups of 499 to 1,498 sq ft (six layouts). Launched in 2017, Ativo Suites has a gross development value (GDV) of RM550 million.
Following its success, the group plans to launch mixed-use development Ativo Annexe, also in mixed-development super hub Damansara Avenue, the first quarter of next year.
TA Global CEO Tiah Joo Kim said during an online press conference on Nov 12 last year: “Ativo Annexe will comprise a mall, office towers, residential towers, medical centre and senior living apartments, and will be connected to the Bandar Sri Damansara MRT station. We shall be revealing more details about this development next year.”
The group also unveiled commercial development DA Square, also in Damansara Avenue, on Nov 12. To date, DA Square has secured 100% occupancy. With a total gross floor area (GFA) of 43,650 sq ft, the development will feature tenants such as Starbucks, The Brew House, 7-Eleven, Fook Yin Lau, Mr Bento and Victoria 25 Café.
“DA Square will fulfil its purpose as a precursor to Ativo Annexe, offering the public a preview of the many more exciting retail and lifestyle venues that the next phase of our masterplan [Damansara Avenue] will bring,” added Tiah.
The 48-acre Damansara Avenue has a total gross development value (GDV) of RM10 billion. When fully developed in the next 10 to 15 years, it will have residential and office towers, a shopping mall, a dedicated sports complex and a performing arts centre.