Investor confidence in the Tun Razak Exchange (TRX) project has been reinvigorated following the new federal government’s promise to invest an additional RM2.8 billion to complete Kuala Lumpur’s new financial district, reported The Edge.
“I’ve spoken to investors, both foreign and local are keen to be part of TRX. They have expressed their confidence in the government’s pro-business stance and direction, and also the future prospect of Malaysia,” said Datuk Azmar Taib, CEO of TRX City Bhd, the firm undertaking the mega project.
“We’re looking at a few parties (who are interested) to invest in TRX. However, we can’t reveal who they are, as we’re still in negotiations,” he said.
Aside from that, TRX’s existing investors like Australia’s Lendlease, Indonesia’s Mulia Group and multinational bank HSBC have also spent more than RM1 billion each in the development.
The project’s first phase consisting of Menara Prudential and The Exchange 106, Southeast Asia’s tallest tower at 106 storeys, are expected to be completed by early-2019.
Currently, 80 percent of Phase I’s infrastructure has been finished. “We expect full completion in time for the opening of the two buildings,” Azmar noted.
Meanwhile, the project’s phase II is anticipated to be ready by 2020. Its components include a public plaza and a 10-acre Central Park, whose completion coincides with the opening of the Exchange Mall and the new headquarters of Affin Bank and HSBC Malaysia in TRX.
Image sourced from World of Buzz
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