Attracting foreign buyers: An artist’s impression of Expressionz, in KL.
BOUTIQUE developer Exsim Development Sdn Bhd is making use of the Kuala Lumpur (KL) city centre’s cosmopolitan appeal as a platform to tap into the international investor market.
Earlier this year, Exsim launched its development of professional suites called Expressionz, located off Jalan Tun Razak.
This is the company’s first project in downtown KL.
To date, about 70% of the project has been taken up and the developer says more than half the buyers are foreigners.
Exsim head of marketing and corporate communications Michelle Siew explained that Expressionz provided a good launch pad to introduce the developer to the international community.
“We are a small developer. With such a strategic location and an address in KL, this is our only chance to tap into the foreign market because they are familiar with KL.
“Our other projects are within locations that most foreign buyers are not so familiar with,” Siew said.
Exsim has several industrial projects under the Nouvelle brand in Kota Damansara and Shah Alam as well as residential projects around the Klang Valley including Twin Arkz and The Treez in Bukit Jalil.
Expressionz has a reported gross development value of RM548mil and sits on a 1.12acre leasehold plot.
The project consists of two towers; 52 storeys in Tower A and 42 storeys in Tower B.
The development has a total of 447 units of professional suites consisting of loft duplexes, dual-key units, one- to three-bedroom units as well as a penthouse.
The units, all of which come fully furnished, range from 643sq ft to 1,405sq ft with an average price psf of RM1,400.
“The furniture and fittings, even sound systems, are all included for buyers. Sometimes, it can be a hassle trying to figure out what kind of designs and furniture to put in. And logistics can be difficult as well.
“So we are providing all of that. You only need to bring your personal belongings,” Siew said.
She added that the units are designed to provide owners a space to retreat to in a bustling city.
“Today, people are looking for a lifestyle, not just something to invest in,” she said.
The project is expected to be completed by 2018.
Although relatively small in comparison to major developers, Exsim has quite a few projects on its plate to keep it busy over the next few years.
Exsim will be launching The Rainz@Bukit Jalil by the end of the year. Siew said the condominium development would feature units ranging from 1,500sq ft to 1,900sq ft.
“We also have a mixed-development project in Old Klang Road which we will be launching in the second quarter of next year. It will have corporate towers, serviced suites and retail components. This is a big project for us and would take about six to eight years to complete,” Siew said.
Exsim is also on the lookout for more land to continue its expansion. Currently, it has a total of 95 acres of undeveloped land under its belt, of which 1.5 acres is in KL.