Updated: Aug 11
[ Malaysia Long stay, Malaysia Property, Apartment, Hotel, Travel, Rental , MM2H, Blog] update AUG 2020
Malaysia's Newest Financial Zone-Tun Razak Exchange: Condominium in TRX
Diamond Property in Kuala Lumpur
Malaysia is still in the rush to build new condominiums. The timing when a good property comes out is also important, isn't it? Like the LAVILE Kuala Lumpur condominium that I introduced last time, the "timing" is when "good properties" come out, so I would like to introduce Core residence! This is the 10th time. Under the title of "Malaysia Real Estate", we will introduce Malaysian real estate and also conduct real estate tours. During a real estate tour, we will introduce the property and respond to each question with the sales of a local real estate company or a professional real estate agent. Jom! (Meaning to go in Malay) Let's go see the actual situation of Malaysian properties!
■「１．Sales Gallery 」：
Now in July 2020：
「Property location + station & building information」：
The Core Residence condominium cannot be described without a description of the Tun Razak Exchange (TRX), a special financial zone project under construction. Because this apartment is on the premises of TRX. Now, the attention is getting so high that the Malaysian real estate industry is boiling. Malaysia's symbolic Twin Towers (KLCC) and downtown Bukit Bintang are about 3 to 5 minutes drive away. First of all, what is the Finance Center, a special financial zone? A special financial zone (center) is an area where the financial industry such as insurance, banks, and securities is active and plays a role as the financial center of the country or region. And where are the special financial zones (centers) in the world? The answer is New York, London, and Tokyo, Shanghai, Singapore, Hong Kong. By the way, Tokyo is ranked 3rd in the world (1st in Asia) in the ranking of international financial centers. The Tun Razak Exchange (TRX) will be Malaysia's first special financial zone. The characteristic of Malaysia's Special Financial Zone is that it is Islamic finance. Islamic financial transactions have grown exponentially since the mid-1990s and are growing at a rate of 15% each year. It is said to be due to the increase in the Muslim population and the economic growth of the Islamic state. In recent years, Mitsubishi UFJ Bank and Mizuho Bank have entered the Islamic financial market and are attracting worldwide attention. I feel that it will surely become a special financial zone (center) that is unique in the world.
The area of the project is 70acre (acre, about 6 times that of Tokyo Dome), and offices, residences, TRX malls, hotels, parks, etc. are under construction. 50% are office towers, 30% are residential, 10% are commercial areas and 10% are hotel projects. Core residences are 30% of the homes and are expected to create about 40,000 jobs. From the perspective of supply and demand, it is a property that Malaysian investors and overseas investors should keep an eye on! A typical office tower is TRX106 (The Exchange 106 TRX), which has 106 floors above ground and 492 m above the ground, which exceeds the twin towers, which have 88 floors and 452 m. Around TRX106, the head office of insurance company Prudential, the head office of bank HSBC (scheduled to be completed in December 2020), Lifestyle Quarter of shopping mall, Seibu department store in Japan, Daily Farm group in Hong Kong It has been announced that supermarkets, movie theaters, etc. will become tenants.The mall is 200,000 square meters, which is larger than 170,000 square meters of the Pavilion Shopping Mall, and a park for 10 soccer grounds will be built on it. Another unique feature of TRX is that it is designed to keep cars from driving on the TRX site, so there is less noise and air pollution. The car goes underground. Just across the road from Jalan Tun Razak, right next to TRX, is TREC, a club town like Roppongi. It is an entertainment spot with a concentration of modern restaurants and bars.
Within TRX, there is the TRX station of MRT, which is one of the important stations of Greater KL development (metropolitan area development), and is the only MRT1 and MRT2 station in the city other than the suburban MRT Sungai Buloh station. It will be a station where two lines pass. You can walk from the core residence. The road is currently under construction, but in the future there will be a 450m covered walkway from North West Plaza at the end of TRX, and the popular Pavilion (through the current Starhill Gallery Mall and Fahrenheit 88 Mall). It leads to a shopping mall and is within walking distance to Malaysia's premier downtown area-Bukit Bintang.
The Core Residence condominium is scheduled to be completed in 2023. The KLCC Twin Towers, KL Towers, and Pavilion Pavilion Mall are said to be Malaysia's Golden Triangle, but with the emergence of the TRX Financial Special Zone, the new Golden Triangles are now the KLCC Twin Towers, KL Tower, and TRX Finance. It became a special zone and the range expanded. The condominium in TRX is a diamond property in Kuala Lumpur! The location is even better!
The Core Residence condominium has towers A, B, and C (one is a hotel). The land area of the condominium is 1.65 acres. It is 50 stories above the ground. There are about 700 rooms in all towers, about 500 are residences and about 120 are hotels. Room sizes range from 624 sqft to 1,022 sqft (approximately 57 m2 to 94 m2). Ownership of the property is Free Hold.
This property is being developed by Malaysian real estate company WCT Berhad and Chinese construction company CCCG (China Communications & Construction Group). Founded in 1981 and listed in 1999, WCT Berhad is active in a wide range of fields. In addition to the construction of each condominium, we also developed the shopping mall Paradigm Mall Petaling Jaya, the commercial facility gateway @ klia2 in the airport building, and the terminal SkyPark Terminal. Meanwhile, CCCG is ranked 93rd out of the world's top 500 construction companies by the 2019 American magazine FUTUNE GLOBAL, and is ranked 12 years in the 2018 American Weekly Engineering News-Record (ENR) ranking. Ability to be No. 1 in consecutive Chinese companies and in the top 3 in the world for 3 consecutive years. Examples from all over the world: NEW GARDEN in Indonesia, DAAN MOGOT, FALHU Hotel in Maldives, construction in Los Angeles, Hong Kong-Zhuhai-Macau Bridge, etc.
Why Buy & Invest Core Residence Condominiums for 5 Reasons
[ Reason1 ]
The latest special financial zone to keep an eye on-Tun Razak Exchange: TRX This is a scenario where you will fully benefit from TRX. The Core Residence condominium is located on the TRX grounds, so it is a diamond property that is in the spotlight. The Special Financial Zone TRX is expected to create approximately 40,000 jobs in the banking area. TRX106 (The Exchange 106 TRX) is a 106-story 492m above the ground, with the headquarters of insurance company Prudential, the headquarters of HSBC Bank (scheduled to be completed in December 2020), Affin Bank (scheduled to be completed in 2021), and a 4-story mall Lifestyle. The Quarter (Lifestyle Quarter) will include tenants such as Seibu Department Store in Japan, Supermarket of Daily Farm Group in Hong Kong, and movie theaters (scheduled to be completed in 2021). TRX real estate will be a trend to benefit as simple calculations are not enough to cover the 40,000 people working in the Special Financial Zone TRX.
[ Reason2 ]
The only TRX station in KL that has two lines, MRT1 and MRT2: The MRT1 stations that are said to be the most economically effective in Malaysia are Merdeka, Bukit Bintang, Tun Razak Exchange (TRX), Cochrane and Maluri stations, which run underground. MRT2 is under construction, but it will be gradually built from 2021, and TRX station will be the only transfer station in the city where two lines, MRT1 and MRT2, pass. MRT2's notable stations include Conlay Station (about an 8-minute walk toward Bukit Bintang), Persiaran KLCC Station (KLCC East) (about a 10-minute walk toward Twin Towers), and Greater KL Development (capital). It is a part of (area development).
[ Reason3 ]
TRX106 tower view or park view equivalent to 10 soccer grounds: The 106-story tower of TRX 106 (The Exchange 106 TRX), which is higher than the twin towers and is the tallest building in Southeast Asia, is in front of you. TRX106 is more expensive than KLCC's Twin Towers rental. Rumor has it that office rentals are likely to be 10% more expensive than KLCC. Such an office tower will be your home view. And a huge park is born in the center of KL! It can also be a home view! Construction of a 10-acre park on the mall is steadily underway.
[ Reason4 ]
Shopping mall & MRT is close to the condominium: The Lifestyle Quarter under the condominium is 200,000 m2, which is larger than the 170,000 m2 of the popular Pavilion Shopping Mall, and will accommodate shops and restaurants. MRT TRX station is a transfer station where two lines pass, so access to all directions is good!
[ Reason5 ]：
The shape of the room is almost square and easy to use, and it can be used for investment or as a property to live in. Some rooms have Twin Tower View & PNB118 & Garden View, Twin Tower View, Garden View, TRX 106 & TRX Park View, PNB118 & Garden View, etc. The size of the room 1 room 58㎡, 64㎡ 2 rooms 76㎡, 86㎡, 78㎡, 94㎡ 3 rooms 95 m2 Because there is, it can be adapted to expatriates and families.
Photo of the entire TRX project:
The gray building in the middle is the Core Residence condominium.
Core Residence Condominium:
More information can be checked on that monitor! Come to the showroom together.
Pool and garden on the premises of the condominium. A lot of green! This is a common space on the 7th floor. Event space, Reading Room, Play Room, etc.
The gray building in the center on the right of the photo is the Core Residence Mansion. A huge park is under construction in TRX. Below that is a four-story Lifestyle Quarter mall, where tenants such as Seibu department stores in Japan, supermarkets of the Daily Farm group in Hong Kong, and movie theaters are scheduled to enter (scheduled to be completed in 2021).
The center is Green Lung (green space in the city), and it feels like Tokyo Midtown. I expect it. Development progresses in a blink of an eye, so the market trend is that prices tend to rise after the property is built.
Tower 1 & Tower 2：A1 (58㎡, 624sqft), 1 bedroom, 1 bathroom→Smart Suite
Tower 2 ：A2 (64㎡, 688 sqft), 1+1 bedroom, 1 bathroom→Flexi Suite
Tower 2 ：B1 (76㎡, 817 sqft), 2 bedroom, 2 bathroom→Premium Suite
Tower 2 ：B2 (78㎡, 839 sqft), 2 bedroom, 2 bathroom→Signatures Suite
Tower 1 ：B3 (86㎡, 925 sqft), 2+1 bedroom, 2 bathroom→Elite Suite
Tower 1 ：B4 (94㎡, 1011 sqft), 2 bedroom, 2 bathroom→City Suite
Tower 1 ：C1(95㎡, 1022 sqft), 3 bedroom, 2 bathroom→Comfort Suite
※Already on sale.
Uses a face recognition system. This system is rare even in Malaysian condominiums. As expected it is a luxury condominium! Luxury condominiums these days are becoming more and more high-tech. Now, let's take a look at the room!
Sales Gallery： (Type A1：58㎡,624 sqf：1 Bedrooms, 1 Bathrooms)
The door key can be fingerprint-authenticated in addition to the conventional plug-in type key.
The smallest room (58㎡, 624sqft) is running out. Different rooms have different views.