Tun Razak Exchange
The Tun Razak Exchange, TRX is a 70-acre development by 1Malaysia Development Berhad in the heart of Kuala Lumpur for international finance and business. TRX is a strategic enabler of the Malaysian government's Economic Transformation Programme.
The master plan includes a total of 26 buildings and over 21 million ft2 of total building Gross Floor Area spread across office, residential, hotel, retail, F&B and cultural offerings.
TRX has a development period of 15 years to be completed in phases with the initial Phase 1 slated for completion in 2017/2018.
The landmark building of Tun Razak Exchange is The Exchange 106, currently the tallest skyscraper in Malaysia.
Developer
The Master Developer of TRX is TRX City Sdn Bhd, a company wholly owned by the Malaysian Ministry of Finance, Inc.Location
Tun Razak Exchange is located in on the eastern edge of Kuala Lumpur's central business district, sandwiched between Bukit Bintang, Pudu, Cochrane, Kampung Pandan and Ampang Hilir. The Royal Selangor Golf Club is across Jalan Tun Razak, as well as RHB Bank's national headquarters and Zouk KL.Transportation
Public transportation
Since July 2017 there is an MRT station immediately on-site, part of the MRT SBK Line. rapidKL bus route T407 connects the MRT station to Kampung Pandan while the longer route 402 connects to Maluri, Jalan Ampang, KLCC, Hospital Kuala Lumpur and finally the Titiwangsa bus hub.Car
The Tun Razak Exchange site is located near the entrance to the SMART Tunnel and adjacent to the junction of Jalan Tun Razak, Jalan Kampung Pandan and Maju Expressway which connects downtown Kuala Lumpur to Cyberjaya. A connection to a planned extension of DUKE is also in the works.Investors
Lendlease – The Exchange TRX
In March 2015, TRX City Sdn Bhd, a wholly owned subsidiary of the Malaysian Minister of Finance Inc., signed a Joint Venture Master Framework Agreement with Lendlease, an Australia-based property and infrastructure group to develop the TRX's Lifestyle Quarter, which has been renamed as The Exchange TRX. Lendlease has a 60% stake in the joint venture and TRX City Sdn Bhd has the remaining 40%. The retail-led mixed-use development entered the construction phase in September 2017 after a 2-year design period, with completion expected in 2020/21. Lendlease secured an RM2.15 billion loan to complete this RM9 billion development.It will occupy over 17 acres and would comprise a retail mall located underneath a 10-acre central park, 6 residential towers and a luxury hotel connected to the multi-layered central park as well as the Tun Razak Exchange MRT Station. The central park will connect all the buildings within TRX using tumbling, terraced greenery, water features and shaded sections. Once completed, the development has a forecast gross development value of over RM 8 billion.
The Exchange, with a nett lettable area of 120,773 square metres, will be a shopping, dining, leisure and entertainment destination featuring over 500 shops.
In October 2017, Lendlease Development Malaysia Sdn Bhd said that more than 26% of the 1.3 million square feet of net lettable area of the Exchange had been successfully leased to three anchor tenants: Seibu, a Japanese departmental store, the Dairy Farm Group of Hong Kong, and Golden Screen Cinemas.
Mulia Group – The Exchange 106
Following the partnership with Lendlease, TRX announced its Sale and Purchase agreement with the Mulia Group to develop the Signature Tower. In April 2016, the Mulia Group announced that all excavation, blasting, piling and site work have been completed within a span of three months. The next phase of the construction of the Signature Tower, saw the pouring of concrete, a massive 20,000 m3 mat foundation. The Signature Tower, now named The Exchange 106, which will be the tallest building in TRX and Malaysia, is the TRX's centre piece landmark. It will have 106 floors with massive column-free floor plates ranging from 28,000 to 34,000 square feet, a gross floor area of about four million sq. ft., and a nett lettable area of 2.8 million sq ftHSBC Bank Malaysia – Headquarters
HSBC Bank Malaysia will invest US$250 million to acquire land and build its future headquarters at the TRX's financial district. Presently HSBC's Malaysian headquarters is located at Medan Pasar, adjacent to Masjid Jamek. The new HSBC headquarters will have a minimum office space of 568,000 square feet. HSBC Bank Malaysia is the first wholly foreign-owned bank to invest in TRX. It has appointed IJM Construction Sdn Bhd as the contractor to undertake the design and construction of the HSBC Malaysia headquarters for a contract sum of approximately RM392 million, with completion expected to be in December 2020.Prudential Malaysia – Headquarters
Prudential Malaysia will be relocating its Malaysia headquarters to a 27-storey purpose-built building in the TRX's financial district. The new Prudential headquarters, which is located adjacent to TRX's main pedestrian gateway from the Bukit Bintang area, incorporates the traditional Malaysian element of tengkolok diraja. With 51,018 sqm of Grade A office space, the building will house all of Prudential's life insurance and asset management businesses in Malaysia under one roof. The owner-cum-developer of this building is IJM Corp Bhd, through its wholly owned subsidiary Fairview Valley Sdn Bhd. IJM Construction Sdn Bhd is the main contractor of this Grade A, LEED Gold-certified office building. Construction work on this 27-storey building started in January 2017 and by December 2017, IJM had completed the building's structural works up to its top floor. As af the second half of 2018, IJM had already secured tenants for 84% of its net lettable area. The building was designed by Broadway Malyan, a global architectural firm, after it won an international design competition for the building.Affin Bank – Headquarters
Affin Bank Berhad will build its new headquarters on a site located in the district's Financial Quarter. In April 2017, the bank signed an agreement to acquire a 54,266 sq ft plot of land on which it will build its headquarters, for a total cost of RM555 million. In September 2018, IJM Construction Sdn Bhd was awarded a RM505 million superstructure contract for the construction of Affin Bank's new 47-storey headquarters. The building, expected to be completed by the end of 2020, features a banking hall, auditorium and convention facilities as well as access to the TRX MRT station via a sunken plaza, spacious outdoor terraces and sky gardens.CCCC – Asean Regional Headquarters
China Communications Construction Co Ltd will build a commercial tower that it will use as its hub for the Asean region. The CCCC tower will be constructed on the land that was previously earmarked for the construction of high-end serviced apartments by WCT Holdings, but this has been denied by WCT – see the WCT section below.China Communications and Construction Group (CCCG) and WCT Group – Residential Development
In Oct 2015, WCT Holdings Berhad, through its subsidiary WCT Precious Development Sdn Bhd, entered into an agreement to purchase a plot of land within TRX for a sum of RM223 million. Together with this, WCT was awarded a RM754 million contract to construct and complete infrastructure and roadways in TRX. In Aug 2017, WCT announced that its subsidiary WCT Land Sdn Bhd and WCTPD had entered into an agreement with CCCG Overseas Real Estate Pte Ltd to jointly develop this plot of TRX land. WCT Group has proposed a residential development to be undertaken comprising a tower block of high-end serviced apartments with complementary retail components.In January 2019, Core Precious Development Sdn Bhd, held the groundbreaking ceremony for this project, which comprises two serviced residence towers and one serviced apartment tower, scheduled to be completed by the end of 2022. The project features 700 residential units, catering to financial professionals and expatriates.