# TA Global’s Lee Yen Foong on CloutHaus’ appeal to Singapore buyers - **Source:** EdgeProp Singapore - **Published:** 2026-07-31T02:00:00.000Z - **Author:** EdgeProp Singapore - **Original:** https://www.edgeprop.sg/property-news/ta-globals-lee-yen-foong-clouthaus-appeal-singapore-buyers - **Topics:** New Launches, Regional Markets ## Featured rationale International take-up and Singapore preview activity signal cross-border demand for comparatively affordable serviced residences, potentially supporting Kuala Lumpur’s appeal as a second-home market. ## AI summary TA Global’s 615-unit CloutHaus in KLCC is 40% sold to buyers from over 20 nationalities, with freehold units priced from RM1.48 million. ## Original article Malaysian developer TA Global held an investor preview of CloutHaus, its 615-unit luxury tower, over the weekend of July 25–26. The preview was held at Paradox Singapore (the former Swissotel Merchant Court), which TA Global owns. CloutHaus is jointly marketed by Savills and SRI in Singapore. CloutHaus, a 276m, 66-storey skyscraper, is the taller of twin towers rising on a prime downtown site in Kuala Lumpur City Centre (KLCC). The second, 58-storey tower houses the 548-key Paradox KLCC hotel on its lower floors and the 242-unit Paradox Residences above. The development sits just 50m from the iconic Petronas Twin Towers — once the tallest towers in the world, and still the tallest in KLCC. However, they have since been eclipsed by two other skyscrapers in Malaysia, namely, Merdeka 118 and The Exchange TRX. Read also: Tiah Joo Kim’s TA Global bets big on Kuala Lumpur and Vancouver skylines Units at CloutHaus are freehold, ranging from 549 sq ft for a one-bedder to 1,216 sq ft for a three-bedder. Prices start from around RM1.48 million and go up to about RM4.74 million — an average of roughly RM2,900 psf. In absolute prices, they translate to $469,000 to $1.5 million. “For $469,000, you can’t even buy a new HDB flat in Singapore,” says Lee Yen Foong, TA Global COO of property development and asset management. According to TA Global, the project is already 40% sold since it debuted in Malaysia in late 2024. Buyers are largely international, representing more than 20 different nationalities. On the sidelines of the Singapore preview, Lee spoke to EdgeProp Singapore about the group’s international roll-out of CloutHaus. The project has been showcased in Taiwan, mainland China, South Korea and Japan, with Singapore as the latest stop. “Since we gathered a lot of interest from these places, we thought it was a good time to launch,” says Lee. Beyond Singapore, TA Global is now looking to bring the project to Australia, where rising living costs have prompted more buyers to consider Kuala Lumpur (KL) as a second home destination. Read also: CloutHaus Residences: The ultimate address of luxury framing KL’s most iconic view Furnishing and rental options CloutHaus, positioned as a premium serviced apartment development, offers buyers two packages — one semi-furnished, the other fully furnished. “The semi-furnished package is for those who have their own interior design preferences,” says Lee. “The fully furnished package caters to those who want a hassle-free investment.” TA Global also offers owners the option to put their units into a rental pool when they are not using them. Residents of CloutHaus will also be able to enjoy the services offered at Paradox KLCC. Paradox is the hospitality brand created by TA Global, which currently has a portfolio of nine operating hotels, with the upcoming Paradox KLCC set to be the 10th. “The brand is positioned as lifestyle luxury, in the same tier as Edition and Kimpton,” says Lee. Units in the neighbouring Paradox Residences will command a premium, he adds, as they sit above the hotel and will have access to Paradox’s hospitality services. Singapore buyers, according to Lee, are drawn to KL by the currency advantage — roughly RM3.16 to $1 — and by housing prices that remain among the most affordable in the region compared with cities like Jakarta, Bangkok and Ho Chi Minh City. Even the doubling of Malaysia’s stamp duty for foreign buyers, from 4% to 8% with effect from 2026, has not deterred buyers. “They just take it as a transactional cost — it’s nowhere compared to Singapore’s 60% additional buyer’s stamp duty for foreigners,” he adds. Read also: Frasers Hospitality to open 18 new serviced, hotel residences across Asia by 2028 Based on his observations, most Singaporean buyers of KL property are purchasing for their own use rather than as a pure investment. Those who travel to KL for business see it as a base first, and potentially a second home when they retire, he adds. Some buyers have gone on to purchase multiple adjoining units with the intention of combining them into a single larger home. Homegrown COO Lee, who turns 39 this year, joined TA Global in November 2009, straight out of university, at age 22. He works closely with the company’s founders, executive chairman Tony Tiah and his wife, Alicia Tan, executive director of TA Global. Tiah was a well-known stockbroker in the 1990s who later channelled his wealth into real estate. Their son, TA Global group CEO Tiah Joo Kim, is based in Vancouver, where he is also the principal of Holborn Group, a real estate developer founded in 2001. While Tiah Joo Kim oversees the Vancouver market, Lee covers the Asia Pacific region — a portfolio that keeps him travelling constantly. After the Singapore preview, he was due in Shanghai on the following Monday to visit the group’s 310-key Paradox Kunshan, in the nearby city of Kunshan. Building a hotel portfolio from scratch The CloutHaus site in KLCC has sat in the group’s landbank for close to three decades; before construction broke ground in 2025, it operated as an open-air carpark. TA Global still holds more than 1,000 acres (404.7ha) of landbank across prime sites in KL and Damansara in Petaling Jaya, says Lee. Lee’s arrival at TA Global coincided with the group’s acquisition of the former Swissotel Merchant Court for around $250 million that same year. The hotel was rebranded in April 2022 as part of a group-wide rebranding exercise. The trigger, Lee says, was the pandemic. “We were holding all these hotel assets that were managed by different operators, and the hotels really suffered losses during Covid.” That prompted TA Global to build its own hotel brand, starting with its flagship property in Vancouver, where the former Trump International Hotel and Tower was refurbished and rebranded as Paradox Vancouver in early 2022. Not every property has been converted: TA Global acquired the 262-key Westin Melbourne in December 2008 for A$160 million, and it remains the only hotel in the group’s portfolio still managed by Westin. TA Global is now working through the rest of its portfolio of hotels, refurbishing them in phases to align them with the Paradox identity. Lee points to Paradox Singapore, where the ballroom has just been renovated, with guest rooms next in line. The group’s property development activitiies will stay focused on its two core markets — KL in Malaysia, and Vancouver in Canada. TA Global has long wanted to add another hotel asset in Singapore, Lee says, “but it’s just too expensive — and the cost of construction is also high here”. Over the years, the group has received offers from other investors asking whether it would sell Paradox Singapore. “But this is a very good location,” he says, pointing to its position opposite Clarke Quay Central mall and the Clarke Quay riverside F&B and lifestyle strip, with the MRT station just steps away. An evolving second-home scheme At the CloutHaus preview, realtor Ivan Wong spoke about recent changes to the Malaysia My Second Home (MM2H) programme. Since mid-2024, the scheme has moved from a single-category system to a tiered one: Silver (five-year renewable stay), Gold (15-year stay), Platinum (20-year stay), and a Special Economic/Financial Zone (SEZ/SFZ) category for Forest City in Johor. “It is more a long-term visa scheme rather than a permanent residency,” says Wong. Fixed-deposit requirements also vary by tier: US$150,000 (about $193,700) for Silver, US$500,000 for Gold, and US$1 million for Platinum. Within 12 months of visa approval, MM2H applicants are required to purchase a residential property in Malaysia — ranging from RM600,000 for the Silver tier to RM2 million for the Platinum tier. However, they are not allowed to sell the residential property within the first 10 years of purchase, adds Wong. Up to 50% of the fixed deposit can also be withdrawn for property, medical and educational expenses. The scheme is especially popular among foreigners such as Koreans, says Wong, many of whom are drawn by the chance to enrol their children in Malaysia’s international schools. The minimum age requirement has also been halved to 25 for the main tiers, with a minimum age of 21 for the SEZ/SFZ category. The revised programme also allows applicants to bring their spouse, children and parents along as dependants, says Wong. ## Chinese translation > Translation model: grok_cli ### TA Global李炎丰谈CloutHaus对新加坡买家的吸引力 该项目自2024年末在马来西亚推出以来，已吸引来自20多个国家的买家。 马来西亚发展商TA Global于7月25至26日周末举办旗下615个单位豪华塔楼CloutHaus的投资者预览会。预览会在TA Global旗下的Paradox Singapore（前身为Swissotel Merchant Court）举行。CloutHaus在新加坡由第一太平戴维斯（Savills）与SRI联合营销。 CloutHaus是一座高276米、66层的摩天大楼，是吉隆坡市中心（KLCC）黄金地段上正在拔地而起的双子塔中较高的一座。第二座58层塔楼，底层为拥有548间客房的Paradox KLCC酒店，上方则是242个单位的Paradox Residences。 该发展项目距离标志性的双子塔（Petronas Twin Towers）仅50米——双子塔曾是世界最高建筑，目前仍是KLCC最高的塔楼。不过，它们已被马来西亚另外两座摩天大楼超越，即默迪卡118（Merdeka 118）与The Exchange TRX。 延伸阅读：Tiah Joo Kim的TA Global大举押注吉隆坡与温哥华天际线 CloutHaus单位为永久地契，面积从一房式549平方英尺到三房式1,216平方英尺不等。价格约从148万令吉起，最高约474万令吉——平均约每平方英尺2,900令吉。按绝对价格换算，约为46.9万新元至150万新元。 “46.9万新元，在新加坡连一套新组屋（HDB）都买不到，”TA Global物业发展与资产管理首席运营官李炎丰（Lee Yen Foong）表示。 据TA Global称，该项目自2024年末在马来西亚亮相以来已售出40%。买家以国际买家为主，来自20多个不同国籍。 在新加坡预览会场边，李炎丰接受EdgeProp Singapore采访，谈及集团对CloutHaus的国际推介计划。 该项目已在台湾、中国大陆、韩国和日本展出，新加坡是最新一站。“既然这些地方已经积累了大量兴趣，我们认为是时候推出了，”李炎丰说。 除新加坡外，TA Global现正考虑将项目带到澳大利亚——当地生活成本上升，促使更多买家将吉隆坡（KL）视为第二家园目的地。 延伸阅读：CloutHaus Residences：尽览吉隆坡最标志性景观的终极奢华地址 装修与租赁选项 定位为高端服务式公寓发展项目的CloutHaus，为买家提供两种配套——半装修与全装修。“半装修配套适合有自己室内设计偏好的买家，”李炎丰说。“全装修配套则面向希望投资省心的买家。” TA Global还提供业主在不住用时将单位放入租赁池的选项。CloutHaus住户亦可享用Paradox KLCC所提供的服务。 Paradox是TA Global打造的酒店品牌，目前旗下有九家营运中的酒店，即将开业的Paradox KLCC将成为第十家。“品牌定位为生活方式奢华，与Edition和Kimpton同属一个档次，”李炎丰说。 他补充称，邻近的Paradox Residences单位将享有溢价，因为它们坐落于酒店上方，并可使用Paradox的酒店服务。 据李炎丰称，新加坡买家被吉隆坡吸引，一是货币优势——约3.16令吉兑1新元——二是房价在区域内仍属最亲民之列，相较雅加达、曼谷和胡志明市等城市更具吸引力。 即使马来西亚对外国买家的印花税自2026年起由4%倍增至8%，也未能吓退买家。“他们只是把这当作交易成本——跟新加坡对外国人征收60%的额外买方印花税（ABSD）根本没法比，”他补充道。 延伸阅读：Frasers Hospitality将于2028年前在亚洲新开18个服务式及酒店式住宅 根据他的观察，多数购买吉隆坡物业的新加坡买家是自用，而非纯粹投资。经常因公往返吉隆坡的人，会先将其视为据点，退休后则可能成为第二家园，他补充说。一些买家已购入多个相邻单位，打算打通成更大的住宅。 本土出身的首席运营官李炎丰今年将满39岁，他于2009年11月大学一毕业、年仅22岁时便加入TA Global。他与公司创始人——执行主席Tony Tiah及其妻子、TA Global执行董事Alicia Tan——紧密合作。Tiah是1990年代知名的股票经纪，后来将财富投入房地产。 他们的儿子、TA Global集团首席执行官Tiah Joo Kim常驻温哥华，同时也是2001年创立的房地产开发商Holborn Group的负责人。 Tiah Joo Kim负责温哥华市场，李炎丰则覆盖亚太区——这份工作让他频繁出差。新加坡预览会结束后，他原定于次周一前往上海，再赴邻近昆山，考察集团拥有310间客房的Paradox Kunshan。 从零打造酒店组合 位于KLCC的CloutHaus地块在集团土地储备中已近三十年；2025年动工前，这里一直是露天停车场。李炎丰表示，TA Global在吉隆坡及八打灵再也（Petaling Jaya）的Damansara等黄金地段仍持有超过1,000英亩（404.7公顷）土地储备。 李炎丰加入TA Global之际，恰逢集团同年以约2.5亿新元收购前Swissotel Merchant Court。该酒店于2022年4月作为集团整体品牌重塑的一部分完成更名。 李炎丰表示，触发点是疫情。“我们持有这些由不同运营商管理的酒店资产，酒店在新冠期间确实蒙受亏损。” 这促使TA Global打造自有酒店品牌，从温哥华旗舰物业起步——前特朗普国际酒店及大厦经翻新后，于2022年初以Paradox Vancouver之名重新亮相。 并非所有物业都已转换：TA Global于2008年12月以1.6亿澳元收购拥有262间客房的Westin Melbourne，它仍是集团组合中唯一继续由Westin管理的酒店。 TA Global现正逐步推进旗下其余酒店组合，分期翻新以统一为Paradox品牌形象。李炎丰以Paradox Singapore为例，指出宴会厅刚完成装修，客房将是下一阶段。 集团的物业发展活动将继续聚焦两大核心市场——马来西亚的吉隆坡与加拿大的温哥华。李炎丰表示，TA Global一直希望在新加坡再添一处酒店资产，“但这里实在太贵——而且这里的建筑成本也很高”。 多年来，集团收到其他投资者询问是否会出售Paradox Singapore。“但这里位置非常好，”他指着酒店对面的Clarke Quay Central商场以及克拉码头（Clarke Quay）河畔餐饮与生活方式街区，地铁站也近在咫尺。 不断演变的第二家园计划 在CloutHaus预览会上，房产经纪Ivan Wong谈及马来西亚第二家园（MM2H）计划的近期变化。自2024年年中起，该计划已从单一类别制改为分级制：白银（可续期五年居留）、黄金（15年居留）、白金（20年居留），以及针对柔佛森林城市（Forest City）的经济特区/金融特区（SEZ/SFZ）类别。 “这更像是长期签证计划，而非永久居留，”Wong表示。 定期存款要求也因级别而异：白银15万美元（约19.37万新元）、黄金50万美元、白金100万美元。 签证获批后12个月内，MM2H申请人须在马来西亚购置住宅物业——白银级别起价60万令吉，白金级别则为200万令吉。不过，他们在购入后首10年内不得出售该住宅物业，Wong补充说。 定期存款中最多50%亦可提取用于房产、医疗和教育支出。Wong表示，该计划在韩国等外国人中尤其受欢迎，许多人看重让子女入读马来西亚国际学校的机会。 主要级别的最低年龄要求也已降至25岁，SEZ/SFZ类别最低年龄为21岁。修订后的计划还允许申请人携带配偶、子女和父母作为家属，Wong表示。