Is EXSIM a Good Developer? Track Record, Completed Projects & Awards

“Is EXSIM a good developer?” is one of the most common questions Johor buyers ask before booking a unit at Causewayz Square, The Asteriaz or The Celestz. It is a sensible question for any off-plan purchase, because you are buying something that will be completed years from now. The best way to answer it is with evidence rather than opinion: what EXSIM has completed and handed over, when, what independent judges have said about the finished buildings, and how the group is structured. This guide pulls that evidence together from developer statements and major Malaysian business media, explains who owns the EXSIM group and what “Exsim Lumba Kuda Sdn Bhd” means on your paperwork, and ends with a practical checklist you can use to judge any developer. For the company’s full story and design approach, read our profile Who is EXSIM?; here we focus on the track record.

Is EXSIM a good developer? The short answer

Judged on completed projects, independent quality scores and awards, EXSIM has one of the stronger records among the developers active in Johor Bahru today. It is not a newcomer testing the market: it has been delivering homes in the Klang Valley for more than a decade and has recently handed over its first project outside the Klang Valley, in Penang.

Four kinds of evidence support that view:

• A continuous delivery record. EdgeProp reported in 2017 that The Treez was completed at the end of 2013, The Leafz at the end of 2015 and Twin Arkz in mid-2016, with Petalz Residences due for handover in June 2017. In August 2025 EXSIM handed over 22 Macalisterz in George Town, Penang.
• Independent quality scores. Millerz Square and The Arcuz, two completed projects, both scored 86% under QLASSIC, the construction quality assessment run by CIDB Malaysia.
• International awards for finished buildings. FIABCI World Prix d’Excellence awards in 2023 (Residential High-Rise), 2025 (World Gold, Industrial) and 2026 (two World Silver awards), plus six FIABCI Malaysia accolades.
• Scale and depth. As early as February 2020, NST reported that EXSIM had launched 21 projects with a combined gross development value of about RM8 billion, and the founders also control a Bursa Malaysia-listed company, Exsim Hospitality Bhd.

No track record can guarantee the outcome of a future project, but it gives Johor buyers solid reasons for confidence and clear reference points to check for themselves.

Who owns EXSIM? The Lim brothers and the group structure

EXSIM is a privately held Malaysian group founded in 2008 and led by the Lim brothers. Lim Aik Hoe is the managing director (named as group managing director by NST and as managing director by The Edge in June 2026), and his brother Lim Aik Kiat is the other key founder. The family’s background is in the timber trade, and the brothers entered property during the 2008 global financial crisis by buying land in Bukit Jalil, Sungai Besi, Kota Damansara and Bukit Rimau.

So when people search “Exsim group owner”, the answer is the Lim family. The group works through several types of company:

• The development companies. The group’s earlier projects were developed by Exsim Development Sdn Bhd, and newer projects are usually developed by a dedicated company for each site.
• The listed arm. Exsim Hospitality Bhd (Bursa Malaysia: EXSIMHB), formerly Pan Malaysia Holdings, was taken over by Exsim Hospitality Holdings, which is owned by the Lim brothers. It runs the Mana Mana short-stay brand and an interior fit-out business.
• Project-level companies in Johor. Causewayz Square is developed by Exsim Lumba Kuda Sdn Bhd, and The Asteriaz by Exsim Kebun Teh Sdn Bhd.

What is Exsim Lumba Kuda Sdn Bhd?

Exsim Lumba Kuda Sdn Bhd is the EXSIM group company developing Causewayz Square on Jalan Lumba Kuda, in Johor Bahru City Centre. The name simply comes from the street where the land sits, beside the JB CIQ.

Using a separate company for each project is standard practice among Malaysian developers. It keeps each project’s land, contracts, financing and housing development account tidy and separate, which makes the project easier to manage and audit. For buyers, it means the name you will see as “the developer” on your booking form and Sale and Purchase Agreement (SPA) for Causewayz Square is Exsim Lumba Kuda Sdn Bhd, while the project is marketed under the EXSIM brand.

The company also appears in listed-company filings. In March 2025, EdgeProp and The Star reported that Exsim Hospitality’s fit-out arm had received an award of about RM8.5 million from Exsim Lumba Kuda Sdn Bhd to fit out a sales gallery and show unit at Plaza Pelangi, Johor. In September 2025 piling began at Causewayz Square, and in January 2026 the RM1.2 billion main building contract was awarded, showing the project moving steadily from launch into construction. Our Causewayz Square project page has the full project details.

EXSIM’s completed projects: a delivery timeline

The clearest test of any developer is what it has actually finished. The table below lists EXSIM projects whose completion or handover is confirmed by credible published sources. Where a source gives only a status rather than a year, we say so rather than guess.

Two points stand out. First, the record is continuous: there have been handovers in almost every phase of the group’s history, from 2013 through 2025. Second, the projects that won the 2026 world awards are recent completions, which shows that quality has been maintained as the group has grown in size. Other EXSIM names, such as Ceylonz Suites, Scarletz Suites and the Central Park Damansara residences, are also on the developer’s portfolio list; we have not included them in the table because we could not find a published completion date.

What “completed” and “handed over” mean for buyers

When a developer says a project is completed and handed over, it means buyers have received vacant possession (VP) and their keys. For a new-launch home sold under the standard Housing Development Act contract, these milestones are set out in the SPA, so you can check them for EXSIM or any other developer.

• Vacant possession. Under the Schedule H contract used for strata homes, the developer must deliver VP within the period stated in the SPA, typically 36 months from the SPA date. Handover dates in the table above are milestones where EXSIM buyers received their units.
• Certificate of Completion and Compliance (CCC). This confirms the building is fit for occupation and is issued before or around handover.
• Defect liability period. After VP, the developer is responsible for fixing defects for 24 months under the standard contract. It is a good time to note any small items and report them through the management office.
• Quality assessment. QLASSIC scores are given to completed buildings, which is why the 86% scores for Millerz Square and The Arcuz are a useful reference when you judge a developer’s finished product.

Knowing these steps helps you read any developer’s track record with confidence: a project that has reached VP and passed its defect period is a project the developer has fully delivered.

EXSIM awards and quality scores

EXSIM’s recognition comes from bodies outside the company, which makes it useful evidence. FIABCI, the International Real Estate Federation, judges completed projects on design, construction quality, sustainability and community value, and projects must win at national level before competing for the World Prix d’Excellence.

The QLASSIC scores matter as much as the trophies. QLASSIC measures workmanship on completed buildings, such as finishes, alignment and external works, so an 86% score on two recent projects is a direct signal of how EXSIM’s buildings look and feel when owners receive their keys. For a fuller comparison of these signals across Johor developers, see our guide EXSIM vs other JB developers.

Exsim Hospitality Bhd: what the listed arm means for Johor buyers

Exsim Hospitality Bhd is the EXSIM founders’ Bursa Malaysia-listed company, and it adds two practical strengths to the group: an in-house interior fit-out business and the Mana Mana short-stay management brand.

• Transparency. Because Exsim Hospitality is listed, contracts it wins from EXSIM projects are announced to Bursa Malaysia and reported by the business press. That is how the public knows about the fit-out work for the Johor sales gallery and show unit.
• Fit-out capability. The fit-out arm (EXSIM Concepto) handles interior and carpentry works across EXSIM projects, which helps keep finishes consistent from show unit to completed home.
• Management experience. Mana Mana was recognised by the Malaysia Book of Records in 2025 as the largest short-stay management company chain, and our research notes it is planned as the hospitality operator for the Axis tower at Causewayz Square. For investors, a developer with an in-house operator brings real short-stay experience to a location beside the CIQ.

What EXSIM’s track record means for Johor buyers

For Johor buyers, EXSIM’s record means you are buying from a developer that has already completed and handed over multiple high-rise projects, rather than one building its first tower. That is especially relevant for a large project like Causewayz Square, with four residential towers and 4,525 units.

The record also helps explain EXSIM’s choices in Johor Bahru:

• Location first. From Bukit Jalil in 2008 to Jalan Lumba Kuda beside the CIQ, EXSIM has tended to buy land ahead of new infrastructure. Causewayz Square sits about 600 m from the JB CIQ and about 800 m from the RTS Link station at Bukit Chagar, where passenger service is targeted to begin in February 2027 (see our RTS Link latest news).
• Rental-friendly layouts. Dual-key layouts, offered at Twin Arkz as early as 2013, now appear at Causewayz Square, and The Celestz adds a triple-key layout.
• Steady construction progress. Piling at Causewayz Square began in September 2025 and the main building contract was awarded in January 2026, with completion targeted around 2030. The Asteriaz and The Celestz in Kebun Teh are expected around 2029 to 2030.

EXSIM’s move into Johor Bahru was also planned well in advance. As early as 2020, NST reported that the group had signed agreements with landowners in Johor. The Asteriaz in Kebun Teh was its first Johor project, and the group has since added the adjoining The Celestz and Causewayz Square, its largest project, beside the CIQ. The Kebun Teh projects suit buyers who want an established neighbourhood near KSL City, while Causewayz Square is designed for buyers who value walking access to the CIQ and the RTS Link station.

For an overview of all three EXSIM projects in Johor, visit our EXSIM JB hub.

How to judge any developer: a buyer’s checklist

The same simple checks work for EXSIM and for any other developer on your shortlist. Most take less than an afternoon and rely on public information.

1. List the completed projects. Ask for, or search for, the developer’s handed-over projects and their completion years. A continuous record across several years is a strong sign.
2. Visit a completed building. Walk around one or two finished projects, such as Twin Arkz or Millerz Square for EXSIM, and look at the lobby, lifts, corridors and facility deck several years after handover.
3. Check independent scores. Look for QLASSIC scores and green certifications (GBI, GreenRE). They are judged by outside bodies, not the marketing team.
4. Read award citations. FIABCI and similar awards are given to completed projects, so they reflect real buildings.
5. Know the developer company on your SPA. Note the project company name (for Causewayz Square, Exsim Lumba Kuda Sdn Bhd) and confirm it matches your booking form and SPA.
6. Read the SPA carefully. Confirm the built-up area, the delivery period for vacant possession, the progressive payment schedule and the specification list. Our step-by-step JB buying guide explains each stage.
7. See the show unit. A visit to the EXSIM JB sales gallery lets you compare the finishes with the specification list.

Want help comparing units or the latest SPA price list for Causewayz Square, The Asteriaz or The Celestz? WhatsApp us.

Sources

• EdgeProp (2017) – Exsim thrives on building unique projects in prime locations
• NST (2020) – Exsim geared up to launch projects outside Klang Valley
• EdgeProp (2025) – Exsim Group hands over 22 Macalisterz @ George Town
• The Edge (2026) – Exsim wins two FIABCI World Silver awards
• FIABCI – Malaysian winners of the World Prix d’Excellence Awards 2025
• EdgeProp – EXSIM developer profile
• EdgeProp (2025) – Exsim Hospitality bags five related-party contracts
• NST (2024) – Exsim buys stake in Pan Malaysia

This guide is general information, not financial advice.