KUALA LUMPUR (Feb 10): Lendlease, Sydney-based property developer, has acquired a 1.2-acre plot of land in the financial district of the Tun Razak Exchange (TRX) through a 60:40 joint venture with TRX City Sdn Bhd, master developer of TRX.
Lendlease managing director and head of Malaysia Stuart Mendel shared that the progress development of TRX is key to Lendlease strategy in investing in the district.
“The cornerstone of Lendlease’s global strategy is to create the best urban precincts in key global getaway cities. This investment underscores our commitment and passion to create the best places of creating value through places where communities thrive.”
“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 recognised landmark for Kuala Lumpur,” he adds.
The 1.2-acre plot will be developed into a mixed-use development that will include hotel, residential and retail components.
The plot is located adjacent to the main pedestrian gateway of TRX, the Raintree Plaza where it is linked to the Bukit Bintang shopping belt via a 700-metre pedestrian walkway.
TRX City Sdn Bhd chief executive officer Datuk Azmar Talib shared that the agreement with Lendlease will help to elevate TRX development.
“This agreement with Lendlease lets us start the year on the right foot. Lendlease has the valuable expertise and brand name that can help elevate the broader TRX development to be a vibrant, inclusive world-class destination,” he said.
He added that 2022 will be a significant year for TRX as it will be opening its doors to new tenants such as HSBC and Affin Bank.
“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 realising our vision to make TRX, Malaysia’s own international financial centre and the city’s new lifestyle hub.”
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