Qubaz review: is it worth buying?

Location

The site is in Kuala Terengganu's Chinatown area, in the city centre. Pasar Payang and Chinatown are within walking distance, and the Terengganu river mouth and waterfront are under 1 km away. Pulau Warisan and the Shahbandar jetty are nearby, and KTCC Mall and Mayang Mall are in the city. Other landmarks include the Kuala Terengganu Drawbridge, Pantai Batu Buruk and the MBKT bus terminal. Sultan Mahmud Airport is about 15 minutes by car.

Pros & cons

How the managed short-stay model works

Qubaz is marketed as a managed short-stay product. Units come with hotel furniture, and MANA MANA runs the letting. The operator publishes return projections for the programme. Treat them as marketing projections, not contract terms, and model your own numbers.

• How income or fees are split between owner and operator
• How long the management agreement runs, and how to exit it
• Whether joining the programme is optional
• How owner stays are booked and counted

Rental outlook

No rent or occupancy figures have been published for Qubaz, and the maintenance fee is not yet known, so a yield cannot be worked out yet. As a cost check, the RM473,700 two-bedroom with a 90% loan over 35 years at 3.7% costs about RM1,812 a month in repayments. Short-stay income would need to cover that, plus maintenance and the operator's share, to break even on a fully financed purchase.

What is still unknown

• The length of the lease
• The maintenance fee and sinking fund rate
• The starting price for the 753 sqft Type C3
• The MANA MANA management terms
• Achievable nightly rates and occupancy after handover

Who should buy

• Buy if you qualify under the eligibility conditions, want a furnished, managed short-stay unit under RM500k and accept leasehold title.
• Consider the Type C3 three-bedroom if you want space for your own stays or for larger groups.
• Consider Erinaz Suites if freehold title matters more to you than an earlier handover. Check purchase eligibility first, as Kelantan land conditions restrict who can buy.
• Wait if you need the maintenance fee and management terms before you commit.

Qubaz vs Erinaz Suites vs The Vividz

Erinaz Suites starts lower and has freehold title and a larger top layout; Qubaz completes about two years earlier and is sold furnished for managed short stays. The Vividz costs more to enter but sits in a much larger city market. See the Erinaz Suites review or The Vividz review.

Developer track record

EXSIM Group has been developing since 2008 and cites more than 80 completed projects in the Klang Valley. They include The Rainz and The Queenswoodz in Bukit Jalil, and Millerz Square and Scarletz in central Kuala Lumpur. The Rainz won a FIABCI World Prix d'Excellence award in 2023. Qubaz is among its first projects on the east coast, so its Klang Valley handover record is the best guide to whether the 2028 target holds. Look at completed EXSIM buildings for finishing quality and post-handover management before you commit.