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Property News

TRX Residences’ first two towers completed, Strata Title secured before CCC

KUALA LUMPUR (May 15): The first two towers of TRX Residences, the residential component of The Exchange TRX precinct jointly developed by Lendlease and TRX City Sdn Bhd, were completed and obtained their Strata Title ahead of CCC (Certificate of Completion and Compliance). 
Housing and Local Government (KPKT) minister Nga Kor Ming who officiated the completion ceremony last night, said the completion of TRX Residences marks a new era of world-class standards of urban living in Kuala Lumpur, representing the country’s vision of building sustainable and progressive communities. 
“The achievement in obtaining Strata Title more than two months ahead of CCC is impressive. This proves that our system is practical and that buyers’ rights are well protected when developers diligently pursue important milestones for buyers,” he added. 
“Living at the centre includes unrivaled connectivity, thought in design and innovation, built around community and sustainability. These are features that appeal to our buyer base who come from 25 countries worldwide. They appreciate our freehold status and we have sold all available units,” said TRX Residences project director Eric Chan. 

He mentioned that in July 2022, TRX Residences collaborated with EdgeProperty to conduct an online survey called the Sustainable Strata Living Survey. Over 7,000 respondents shared their thoughts and expectations, summarised in five key takeaways:
1.  Maintainability trumps aesthetics and facilities
2.  Safety and wellness are of utmost concern
3.  Demand for integrated development and car-free living
4.  Willingness to pay more for better property management
5. Expectation of Smart Living technology.
Last night, TRX Residences delivered four out of those five outcomes – maintainability, safety and wellness, integrated development, and Smart Living, with its Smart Community App. 
Chan revealed that two more plots will be developed that will reflect the newest integration of TRX Residences’ journey. 

Malaysia to host the China-Asean Housing Ministers Meeting and ASEAN Property Summit
Meanwhile Nga mentioned that “Malaysia will host the China-Asean Housing Ministers Meeting on July 3 for the first time and the ministers from the 11 countries will visit TRX Residences”. The country will be the Chair of Asean next year.
“For the first time in history, KPKT will work together with all the stakeholders to host the first ever Asean Property Summit, where TRX Residences will also be one of the participants to be promoted as the landmark and the iconic benchmark for our modern city living standards,” he said.
Nga added that KPKT is mulling the Real Property Development Act for Peninsular Malaysia to safeguard the interest of purchasers, developers, and landowners, and this new act will also apply to mixed-development and medical properties. 
Additionally, he said at the press conference last night that KPKT hopes “the government will be able to provide 500,000 affordable homes by the end of the 12th Malaysia Plan” through strategic collaboration with the private sector.
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Source: EdgeProp.my

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