More investors are coming in for Tun Razak Exchange, located in Kuala Lumpur city center.
With its joint venture agreement with TRX City Sdn Bhd now unconditional, Australian firm Lendlease revealed that it is pushing ahead with the development of the Lifestyle Quarter at the Tun Razak Exchange (TRX) in Kuala Lumpur.
It noted that the 17-acre mixed-use development will feature six residential towers (TRX Residences), a park, luxury hotel and a city centre retail mall dubbed The Exchange TRX.
With an estimated development end value of RM8 billion, the project will be developed in phases via a joint venture, in which the Australian group owns a 60 percent stake, while the remaining 40 percent is held by TRX City, reported New Straits Times.
Lendlease said it will serve as the Lifestyle Quarter project’s development and construction manager.
Lendlease CEO Asia Tony Lombardo noted that the Lifestyle Quarter is one of the 12 large-scale urban regeneration projects that the company is currently undertaking across major cities around the world.
“We have over 35 years’ local experience in Malaysia and we look forward to combining this with our global expertise to transform the Lifestyle Quarter into a vibrant metropolis,” he said.
“We are excited to be progressing ahead in delivering this new financial district that will be significant for the city of Kuala Lumpur and the Malaysian people,” said Datuk Azmar Talib, chief executive officer of TRX City, which is an indirect fully-owned subsidiary of Minister of Finance Inc. Malaysia.
Among up and coming developments nestling in the heart of the city are:
1. Isola KLCC
3. Eaton Residences, Jalan Kia Peng
Image sourced from TRX
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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