Core Residence @ TRX

Being the maiden residential development situated in TRX, Core Residence strives to accommodate the new generation of urbanites who need the convenience of accessibility and facilities to meet their modern lifestyle needs. The furnishings and quality in Core Residence are guaranteed by a joint-venture between two of the most influential construction and engineering corporations in Malaysia and China – China Communications Construction Group (CCCG) and WCT Holdings Berhad. With 700 residential units at Core Residence, the project will be a showcase of one of the most contemporary high-rise luxurious residential places in Malaysia once its construction finishes in 2023.

Core Residence Location

Core Residence is situated in the heart of Kuala Lumpur’s Golden Triangle that covers the north of Jalan Pudu, south of Jalan Ampang and west of Jalan Imbi and Jalan Tun Razak. It represents the busiest shopping, entertainment and commercial hub of Kuala Lumpur. The Golden Triangle includes the shopping area of Bukit Bintang, the office towers of Jalan Raja Chulan, the Jalan Sultan Ismail five-star hotel strip, the Jalan P. Ramlee party street, and the entire Kuala Lumpur City Centre (KLCC), which houses the Petronas Twin Towers, Suria KLCC shopping centre, KLCC Convention Centre and the KLCC Park.

In 2010, the development of Malaysia’s first international financial and business district in the area – TRX was announced by the government in the 10th Malaysia plan. This was seen as the effort of the government to establish Kuala Lumpur into an international financial hub in the world due to lack of a proper financial district in the country. Encompassing 70 acres of land in the Golden Triangle, the grand development project costs RM 40 billion that is geared towards gathering over 250 top-tier global financial companies and it is set to create 500,000 job opportunities. From the transformation of an area that housed quarters of civil servants to an upcoming global financial centre, TRX is poised to act as a mega-development catalyst that will spur economic growth and take urban regeneration to a new high level.

In general, TRX will be equipped with high-end office buildings, state of art hospitals, hotels, extensive transportation systems, commercial properties, shopping centres and premium residential areas including the Core Residence. TRX is seen as an extension to the currently overcrowded Bukit Bintang and KLCC areas. Prospective residents in this area will have access to many of these facilities and amenities freely.

Top corporates in the world such as HSBC Bank Malaysia, Prudential Malaysia, Affin Bank and China Communications Construction Co Ltd (CCCC) have confirmed to locate their headquarters in TRX. The Exchange 106 is an office building of 492.06 m tall above sea level with a total of 106 floors within the TRX area. As the landmark building in TRX, The Exchange 106 has officially dethroned Petronas Twin Towers as the tallest building in Malaysia. Another notable feature of TRX is The Exchange Mall, a 2 million sq. ft. lifestyle mall, which comprises a retail mall of over 500 shops, six residential towers and a luxury hotel.

Jalan Tun Razak, one of the main arterial roads in Kuala Lumpur, where Core Residence is located, is known for its traffic congestion. The situation is expected to worsen once the TRX development project is completed. In an attempt to resolve this issue, Kuala Lumpur City Hall (DBKL) will implement the TRX external road to ensure effective traffic dispersion from TRX and incoming traffic from Bukit Bintang and Kampung Pandan.

Connectivity

Located in the heart of KLCC, Core Residence enjoys all-round connectivity and accessibility with major roads and highways such as Jalan Tun Razak, Jalan Bukit Bintang, Jalan Sultan Ismail, Jalan Ampang – Jalan Pinang, Jalan Raja Chulan, Jalan Kampung Pandan, Maju Expressway (MEX) and Setiawangsa Pantai Expressway (SPE) (under construction).

Getting around the big city on foot from Core Residence is a pleasure for its residents. They will have doorstep access to TRX MRT Station, which enables connectivity to other stations on the Sungai Buloh – Kajang (SBK) MRT Line such as Bukit Bintang, Pasar Seni and Taman Tun Dr Ismail in one direction while Cochrane, Taman Connaught, Batu 11 Cheras and Stadium Kajang are in other direction. Also, TRX MRT Station will serve as the interchange between the SBK and Sungai Buloh – Serdang – Putrajaya (SSP) Lines, in which the SSP Line will be running through the spine of Klang Valley and connecting the northern and southern parts within the region. Other than TRX MRT Station, Bukit Bintang, Cochrane and Conlay MRT Stations are also found nearby Core Residence, in which Conlay MRT Station is one of the stations in the upcoming SSP Line.

Transportation

• Tun Razak Exchange (TRX) MRT Station
• Bukit Bintang MRT Station
• Cochrane MRT Station
• Conlay MRT Station (under construction)

Convenience

Several prestigious international schools like International School Kuala Lumpur, EtonHouse International School and more are found nearby Core Residence. This is a plus point particularly for families or newly start-up families residing at the development as parents are fond of sending their children to schools near home.

Prospective residents of Core Residence can choose from an array of shopping destinations. From modern malls of Pavilion Kuala Lumpur, Suria KLCC, The Exchange Mall and more to historical shopping places such as Central Market, the residents will always be able to find the goods that they are looking for.

A number of established medical facilities are reachable from the development in 7 – 13 minutes by car. This is certainly relieving news for those who are conscious about their health.

Education

• International School Kuala Lumpur
• Sayfol International School
• Taylor’s International School Kuala Lumpur
• Mutiara International Grammar School
• EtonHouse International School
• St. John’s International School

Shopping

• The Exchange Mall (under construction)
• Pavilion Kuala Lumpur
• Suria KLCC
• Lot 10 Shopping Centre
• Fahrenheit 88 Mall
• Berjaya Times Square
• Central Market
• MyTown Shopping Centre

Hospital

• Prince Court Medical Centre
• Gleneagles Kuala Lumpur
• National Heart Institute
• HSC Medical Center
• Tung Shin Chinese Hospital
• Kuala Lumpur Hospital

Core Residence Floor Plan

Core Residence is built on a 1.65-acre land in TRX. The freehold project comprises three towers of 700 residential units with built-up sizes ranging from 624 – 1022 sq. ft. Fully furnished units of seven layouts (Types A1, A2, B1, B2, B3, B4 and C1) are available up for grabs at Core Residence. The developer emphasises on the elements of comfortable, spacious and high quality in Core Residence. For example, the development uses the variable refrigerant flow (VRF) system in ducted indoor units. The units look more aesthetically pleasing and the VRF system works only at the needed rate, thus allowing for substantial energy savings. The product fittings in the units feature multinational brands such as Teka, Yale, Grohe and more to make sure the products are of the best quality. All layouts adopt an open kitchen concept whereby the kitchen, dining area and living area are connected without partitions to make the home more spacious.

Types A1 (624 sq. ft.) and A2 (688 sq. ft.) are two of the smallest units offered at Core Residence. Type A1 unit has a master bedroom and a bathroom within it. Similar to Type A1, Type A2 unit also possesses a master bedroom but the bathroom is located outside the room. Type A2 unit also has an additional room that can be used as a study room. Thus, residents staying at Type A2 units will have an extra sense of privacy compared to those who stay at Type A1 units, especially during occasions when there are visitors in the unit. Both Types A1 and A2 units are suitable for newlyweds and working professionals due to their compact sizes and minimalist layout designs.

The design layouts of Types B1 (817 sq. ft.) and B2 (839 sq. ft.) units are almost identical with subtle differences in terms of their sizes and arrangement of kitchen layouts. Other than that, both unit types have two bedrooms and two bathrooms, in which one of the bathrooms is shared within the unit.

Types B3 (925 sq. ft.) and B4 (1011 sq. ft.) units have two bedrooms and two bathrooms with the living, dining and kitchen areas located in between the bedrooms. There are two major differences between the layouts of these two unit types. First, Type B3 includes a study room that Type B4 does not possess. Second, the layout of Type B3 unit is nearly square while the Type B4 unit has a rectangular layout.

Type C1 (1022 sq. ft.) is the largest unit offering three bedrooms and two bathrooms at Core Residence. The master bedroom and the other two bedrooms of Type C1 are apart from one another with the living, dining and kitchen areas occupying the space in the middle of the unit.
In general, Types B1, B2, B3 and B4 units perfectly suit small-sized families made up of three to four people. However, they would be ill-suited to those who are seeking to grow their family units as they only have two bedrooms. On the contrary, Type C1 units cater to small- and medium-sized families who value privacy and comfortability over other things.

Core Residence Facilities and Amenities

Being the first residential development in TRX, Core Residence houses eye-catching facilities that one can only admire of staying at. The location of facilities at the residence is meticulously planned in order to maximize the enjoyable experience of residents within the property. Function hall, reading room, indoor playroom, outdoor lounge and recreational park are all located in a lush landscape on Level 7. Residents will have plenty of opportunities to interact with both their family members and friends by fully utilizing the facilities. Athletically inclined residents can enjoy the facilities such as gymnasium, wading pool, swimming pool and pool deck, which are placed on top of the residence (Level 50). Regardless, all residents at Core Residence can enjoy the exquisite view overlooking the 10 acres TRX Central Park, The Royal Selangor Golf Club as well as the ever-busy Kuala Lumpur central business district.

One of the most modern multi-layered security systems is used by Core Residence to ensure the safety of its residents. The facial recognition system is fitted at the residence instead of the usual access card system used in most condominiums. Another security feature is that the units will have a five-way smart lock at their entrances.

Facilities (located on Level 7 and 50)

• Function hall
• Reading room
• Indoor playroom
• Outdoor lounge
• Recreational park
• Gymnasium
• Wading pool
• Swimming pool
• Pool deck

Core Residence Property Analysis

The development of Core Residence costs RM 1.4 billion and it is expected to be completed in 2023 as the first residential project in TRX. Properties in KLCC naturally experience a hike in values over the years and the trend is expected to continue due to rapid development in the region. As part of an area in KLCC, TRX benefits from continuous development processes that are ongoing in the area. An example of it is the presence of TRX MRT Station, where properties near the MRT station would be in high demand. Upcoming commercial and residential developments in TRX will change the landscape of the area and contribute to an increase in values of properties near TRX MRT Station.
It is no wonder that the TRX area will have an estimated gross development value of RM 40 million due to good capital appreciation potential of properties. Overall, its prime location and connectivity coupled with plenty of facilities and amenities make it a coveted residence in the area.

Target Market

Other than China, the developer of Core Residence is targeting buyers from South East Asia countries such as Malaysia, Indonesia and Singapore. More specifically, Core Residence aims to cater to couples, small- and medium-sized families as well as working professionals from the high-income group. These groups of residents are most likely to work in the city centre and enjoy the luxurious high-rise city living lifestyle. The parents of small- and medium-sized families from foreign countries may be attracted by the excellent education system and/or lucrative job opportunities in Malaysia. Thus, they may plan to relocate to Malaysia and Core Residence is a good choice for them to reside. Last but not least, Core Residence presents as a good option for investors due to the high capital appreciation potential of properties in the region.

Competitor Analysis

Three serviced residences nearby Core Residence, i.e., YOO8 @ 8 Conlay, Eaton Residences and 8 Kia Peng are handpicked for comparison and analysis. These residences are close in distance to each other and are reachable from Core Residence within 10 minutes’ of driving. Core Residence has an upper hand over the other residences in terms of its location. As the first residential project to be developed in TRX, prospective residents of Core Residence enjoy the sense of residing in an exclusive and superior environment. The other residences are all built in the same area, making the area rather crowded with residents. Eaton Residences carries the most affordable price tag among all properties. However, it is a leasehold property as compared to others that are freehold properties. When comparing among other freehold projects, it can be said that the Price PSF for Core Residence is competitive (similar to that of 8 Kia Peng) and significantly more affordable compared to YOO8 which is selling at about RM 3,290 PSF.

Core Residence is the latest residential development to be completed while the move-in occupancy in the rest of the residences is set to be this year. This is one of the factors that can lure prospective buyers to reside in Core Residence if they are not rushing in looking for a new place to stay. The units offered at Core Residence are of moderate sizes compared to the other residential properties. Furthermore, the selling price of units at Core Residence is relatively reasonable, which is only surpassed by YOO8 @ 8 Conlay.

Last but not least, Core Residence units can accommodate singles as well as families, as opposed to 8 Kia Peng that may only be suitable for renters of single urbanites due to unit design layouts.

Core Residence: CORE Precious Development Sdn Bhd

Core Residence is the maiden residential project launched by CORE Precious Development Sdn Bhd, a joint venture between two giant corporates in China and Malaysia – China Communications Construction Group (CCCG) and WCT Holdings Berhad. The company is 80%-owned by CCCG and the other 20%-owned by WCT.

Ranked amongst the world’s top 500 enterprises by Fortune magazine in 2019, CCCG engaged in an array of developments related to construction through its wholly-owned or controlled subsidiaries in over more than 120 countries. These include ports, roads, bridges, terminals, railways, tunnels, civil infrastructure products, transport infrastructure investment, property development business and more. Few of the notable projects under the development of CCCG are Jiangsu Sutong Yangtze River Highway Bridge (China), Hong Kong – Zhuhai – Macau Bridge (China), Suramadu Bridge (Indonesia), Penang Second Bridge (Malaysia), Colombo International Financial City (Sri Lanka) and The Grand (Los Angeles, US). Thus, the enterprise has earned a renowned reputation as an urban complex developer and an international investor.

Founded on 14 January 1981, WCT is one of the most established investment holding companies in Malaysia. WCT is involved in Engineering and Construction, Property Development and Property Investment & Management services. With a solid track record of 39 years, WCT has built an impressive portfolio in terms of property development and engineering and construction. The former covers townships, high-rise residences, integrated commercial developments, luxury houses, office towers, hotels and shopping malls. Waltz Residences (OUG Kuala Lumpur) and Sapphire Paradigm (Petaling Jaya) are just two successful examples of residential developments under WCT. Over the years, WCT has evolved into one of Malaysia’s leading engineering & construction companies and property developers. The group also has successfully made it onto the global stage by marking its presence in six countries including Malaysia, Qatar, UAE, Bahrain, India and Vietnam.

Summary

On a general note, prospective tenants of Core Residence can enjoy a high-rise five-star quality lifestyle due to extensive development in TRX. The property will be complemented by top-notch facilities and amenities and is perfect for upgraders who desire to be at the centre of all the hustle and bustle – financial district, entertainment, dining, park and leisure.