In view of its commitment to develop Malaysia into a financial hub within the Asean region, HSBC Malaysia invested US$250 million for its future headquarters in the Tun Razak Exchange (TRX) development – making it the first foreign bank to invest in the project.
In a joint release, HSBC and TRX City Sdn Bhd revealed that they have entered into a sale-and-purchase agreement for the development of HSBC’s headquarters at the upcoming international financial district.
While they did not reveal when construction works would commence or be completed, they noted that the bank’s headquarters would have a minimum office space of 568,000 sq ft.
“HSBC has enjoyed more than 130 years of remarkable business success in Malaysia. Malaysia is a priority market for the HSBC Group globally and this investment further cements our growth plans in Malaysia,” said HSBC Malaysia CEO Mukhtar Hussain.
“The collaboration between HSBC and TRX demonstrates our commitment to our employees, the community and our business in Malaysia. Significantly, it also reinforces the important role Malaysia plays in HSBC’s ASEAN strategy.”
Meanwhile, TRX City Sdn Bhd CEO Dato’ Azmar Talib noted that around 70 percent of the plots available in TRX have been commercialized.
“TRX City continues to receive significant interest from various local and international investors and tenants, including several of the world’s major banks and financial institutions.”
Notably, TRX has also signed Indonesian property developer Mulia Group to develop the Signature Tower plot; Lendlease to jointly develop the Lifestyle Quarter; Lembaga Tabung Haji for a residential plot; Affin Bank Berhad for an office tower and water management firm Veolia Water Technologies as the water treatment and recycling concessionaire.
Source:
http://trx.my/press-releases/hsbc-makes-major-investment-in-malaysia
Image sourced from HSBC
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
For more information on new top homes, check out PropertyGuru’s New Property Launches and Project Reviews.
