KL's high-end residentials still popular among Asian buyers

Posted on: 2021-01-06


KUALA LUMPUR: Kuala Lumpur remains an attractive investment spot for Asian buyers post-Covid-19, CORE Precious Development Sdn Bhd chairman and managing director Zhang Bao said

This is given that properties in KL have relatively affordable price per square feet, ample facilities, great accessibility with integrated transport services, and one of the highest standards of living in Southeast Asia.

"Other factors include Malaysia's reasonable cost of international education, great healthcare system and reputation as a top retirement destination," said Zhang Bao.
Quoting a report by Juwai IQI recently, Zhang Bao said Malaysia was expected to see an increase in foreign purchases in the next 12 months.

The country was ranked seventh in the third quarter of this year amongthe world's most preferred destination by Chinese property buyers.

"Malaysia is one of the most foreign-friendly countries in Southeast Asia for real estate investors, due to the lowering of foreign ownership price threshold since 11 June this year, which will be valid for one year.

"Despite a slump caused by the virus and movement control orders, foreign investors are still interested in Malaysia's long-term growth potential and the economy has already shown tentative signs of recovery after the government began easing restrictions," he said. 

CORE Precious is a joint-venture (JV) company between China Communications and Construction Group (CCCG) and WCT Holdings Bhd. 

The company is currently developing a high-end residential project located at the Tun Razak Exchange. 

CORE Precious said units at its maiden property project, Core Residence @ TRX, had mainly been taken up by customers from key Asian countries and regions such as China, Hong Kong, Taiwan, Korea and Japan.

So far, CORE Precious said it had received encouraging demand for property units at Core Residence@TRX and the construction progress is said to be well on schedule in spite of the ongoing pandemic.

"Since we embarked on this development a year ago, the completion date of CORE Residence@TRX is expected to be in 2023.

"Everything is proceeding as planned in spite of the ongoing pandemic, and for that I have to thank our dedicated team in making sure that we continue to meet our stakeholders' expectations," Zhang Bao added.


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Source From: NST

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