The Treez’s growing capital appreciation

PETALING JAYA: Exsim Development Sdn Bhd’s first residential project The Treez, which was completed in November last year, is currently transacting in the secondary market at 36% to 42% higher than its launch price in 2010, said the developer. The Treez in Bukit Jalil was launched at RM500 psf in 2010 and units were fully sold within three months. According to Michael Yam, its head of property R&D (residential/commercial), units are currently transacting between RM680 and RM710 psf. “Most of our buyers are [purchasing to stay]. [So] we expect the development to be fully occupied by end of this year,” said Yam, adding that to date more than 10 residents have moved in. Exsim started handing over units since December. The 2.6 acre (1.05ha) freehold Green Building Index (GBI)-certified condominium project fronts the 80-acre Bukit Jalil International Park. It has a gross development value of RM190 million. Yam said Exsim has thrown in extra fittings such as timber grills, air-conditioning and water heaters, which were not stated in the sale and purchase agreement. The Treez, which has a Silver GBI rating, comprises 135 condominium units, 13 condo villas, 15 link villas and five penthouses. It is a low density development within walking distance from the upcoming Bukit Jalil light rail transit station. Facilities include a resort-inspired main lobby with a sunken waiting lounge, 25m infinity pool, jacuzzi, fitness centre, sauna, spa cabana, yoga deck, extra parking bays for hybrid cars, herb garden and in-house refuse classification bin on every floor. On the top floor residents can organise private gatherings and functions at the sky lounge or sky pool. The sky lounge, which has an unobstructed view of the KL city centre skyline, is fitted with a flat screen TV, pool table, dining area and fully-fitted kitchen. Exsim’s residential projects include Twin Arkz in Bukit Jalil and The Leafz in Sungai Besi. Yam said Exsim will be handing over a project every year for the next three years, all of which are in KL South. They are The Leafz (early 2015), Twin Arkz (early 2016) and The Petalz (2017). Exsim is set to launch its first development in the KL central business district named Expressionz in Jalan Tun Razak. It also plans to launch 11 new residential and industrial developments in the Klang Valley covering some 90 acres within the next three years. Exsim was involved in the timber business before venturing into property development. — by Wong Mei Kay This article first appeared in The Edge Financial Daily, on February 28, 2014. For more information on Building and Construction seminars, please visit www.asiapacificevents.com