Core Precious Development Sdn Bhd launched its residential project, Core Residence, at the Tun Razak Exchange (TRX) in Kuala Lumpur on 25 November 2019. The RM1.4 billion high-end project will be developed on a 1.65-acre land in the Kuala Lumpur International Financial District.
Core Precious is a joint-venture (JV) company between WCT Holdings Bhd and China Communications Construction Group (CCCG). The company is 80% owned by CCCG and 20% by WCTC.
CCCG is a global leader in many industries including real estate, covering a project development area of almost 30-million square meters all across the world. They have been in the Malaysian market for 20 years, focusing on infrastructure construction. It is the builder of the Penang Second Bridge and the East Coast Rail Link. CCCG is listed in Hong Kong and Shanghai, and it has projects in Los Angeles, Indonesia, Africa, and Sri Lanka.
Core Precious managing director and general manager of international business division of CCCG Real Estate Group, Zhang Bao said that Core Residence @ TRX adheres to the group's vision of 'making the world more accessible, cities more liveable and life more beautiful'. The developer strives to make Core Residence @ TRX the benchmark for modern and sustainable urban living in Kuala Lumpur.
Core Residence @ TRX will feature naturally-lit and well-ventilated units that embrace the iconic views of the Kuala Lumpur cityscape, complemented by top-notch amenities. The project is positioned to be the frontier of global living for professionals and financial practitioners who will live and work in the business district of Kuala Lumpur.
The 70-acre TRX is deemed a natural expansion of the Golden Triangle - Kuala Lumpur's prominent commercial, shopping, and entertainment hub - and Core Residence will accommodate new generation clientele who need the convenience of accessibility and require facilities to meet their modern urban lifestyle needs.
TRX is an integrated 70-acre development that will be KL's new CBD and Malaysia's International Financial District. The master developer, TRX City Sdn Bhd, is wholly owned by the Malaysian Ministry of Finance (MoF). The MoF also has a 51% stake in Exchange 106, a 106-storey office building, with net lettable space of 2.6 million sq ft.
Core Residence @ TRX is the first residential offering in Malaysia's international financial district. The freehold project features 3 blocks of serviced residences with 700 residential units. Built-up sizes range from 624 sq ft (Smart Suite Units) to 1,022 sq ft (Comfort Suite Units), and units are priced between RM1.44 million to RM2.48 million. The developer is targeting buyers from Malaysia, China, Indonesia, and Singapore for this project.
2 blocks comprising 580 units were released for sale in November, with an average price of RM2,200 per sq ft. Of the 580 units launched, 349 are 2-bedroom units. There are 190 units with 1 bedroom, and 41 units with 3 bedrooms.
Zhang Bao said, the average price for the residences is RM2,200 per square feet.