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China's construction giant CCCG & partner WCT bullish on 100pct take-up rate RM1.4bil project at TRX by 2023

Publish date: Sun, 26 Mar 2023, 03:22 PM

KUALA LUMPUR: China Communications Construction Group (CCCG) and partner WCT Holdings Bhd are confident of achieving a 100 per cent take up rate for their Core Residence @ TRX (Tun Razak Exchange) here before the project handover by end-2023.

CCCG and WCT are developing Core Residence @ TRX, which boasts a RM.4 billion gross development value, through a joint venture called Core Precious Development Sdn Bhd.

Core Precious chairman and managing director Zhang Bao said the company had completed 70 per cent of construction works for the luxury residential development.

Bao said this was a significant milestone as the company had navigated through the Covid-19 challenges, continued the construction of Core Residence and still achieved a strong take-up for its units.

"Core Residence @ TRX currently has a favourable take up rate of 80 per cent for Tower 1 and Tower 2, attracting customers from more than 20 countries outside Malaysia such as China, Singapore, Korea and Japan.

"We only have a few hundred units left for this development, we are confident of achieving 100 per cent take up rate by the end of this year," he told reporters at Core Residence @ TRX's topping-out ceremony here today.

The first two towers, or Tower 1 and Tower 2, of Core Residence @ TRX were launched in December 2019 and consist of 580 units in total. Unit built-ups range from 624 to 1,022 sq ft, with the selling prices starting from RM1.5 million.

The third tower will be unveiled at a later stage.

The company celebrates a topping-out ceremony with the placing of the final beam of the project structure, further cementing Core Residence @ TRX position as the first residential project in the financial district of TRX. 

Boa said as the first residential development in TRX, the project had received an overwhelming response from a wide array of international and local buyers.

"Core Residence @ TRX will set the curve for a high-end premium lifestyle within the vicinity.

"This is because the residence comes equipped with first-class living facilities and panoramic floor-to-ceiling windows with interior design emphasising natural lighting and ventilation in its units," he said. 

Core Residence comprises two serviced residence towers with 580 units and one serviced apartment tower.

Upon completion, CBRE/WTW will be the property manager of Core Residence @ TRX. 

CBRE/WTW is a commercial real estate service and investment firm where it provides comprehensive real estate solutions to clients across various industries and sectors.

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