Lendlease is acquiring an additional 1.2-acre plot of land within the international financial district of TRX for a mixed-use development featuring hotel, residential, and retail.
The 60:40 partnership between Australia-based Lendlease and TRX’s master developer TRXC is currently already developing the 17-acre lifestyle centrepiece of the district, The Exchange TRX.
Stuart Mendel, Managing Director Lendlease, said “we are very pleased with the progress of The Exchange TRX to date, and this contributed to our decision to acquire an additional plot within the Master Development. As a future-ready development with high commercial potential, Tun Razak Exchange’s prime location and international standards of development positions it as a globally recognized landmark for Kuala Lumpur.”
The new plot is located adjacent to the main pedestrian gateway of TRX, the Raintree Plaza, which is linked to the Bukit Bintang shopping belt via a 700-meter pedestrian walkway.
Dato’ Azmar Talib, Chief Executive Officer of TRX City Sdn Bhd who is the master developer for the project, added “This year is going to be significant for TRX, as we start opening our doors to HSBC and Affin Bank in their new HQs, in addition to other new tenants. We are excited to see the TRX community growing, as we move closer to realizing our vision to make TRX, Malaysia’s own international financial centre and the city’s new lifestyle hub.
The Exchange TRX, Lendlease’s largest integrated development in Asia, is a city-defining project that will help achieve TRX’s vision to be a world class international, lifestyle, business and financial hub. It will encompass 6 residential towers (known as TRX Residences), Malaysia’s first Kimpton Hotel, office and a large-scale retail destination crowned by a one-of-a-kind, 10-acre rooftop park.
TRX is a significant public-private project of national importance, the project has attracted leading global and domestic investors on the back of its strong sustainability framework that includes district-wide green infrastructure such as an onsite wastewater treatment and recycling plant and an expansive, lush public realm that makes up almost a quarter of the development.
The district, located at the heart of the capital, has joined forces with Kuala Lumpur City Hall to enhance the facilities surrounding the area, carrying out major road upgrades for Jalan Tun Razak and streetscape improvements in its neighbourhood.
As Malaysia’s first international financial district and Kuala Lumpur’s future CBD, TRX is aimed to strengthen Kuala Lumpur’s position as an international finance centre by creating a seamless and central business environment for financial services firms, multinational companies (MNCs) and other businesses. The first phase of the project opened in 2019, when one of Southeast Asia’s tallest buildings Exchange 106 and the new HQ for Prudential Malaysia started operating. The value of the entire TRX development is estimated to exceed RM40 billion.