TRX’s north side take-up rate hits 80%

The Tun Razak Exchange (TRX), an iconic 28.3ha development in the heart of Kuala Lumpur (KL), has seen 80% of the land on its north side being commercialised, or under negotiations.

TRX City Sdn Bhd CEO Datuk Azmar Talib said the group is now in an advanced stage of talks with various investors, some of them among the world’s most recognisable names in banking and finance.

“Today, we have on board with us world-class investors who believe in our vision,” he said in his welcoming speech to several heads of missions on a visit to the TRX site in KL yesterday.

Azmar said HSBC Holdings plc, one of the world’s largest banks, has committed US$250 million (RM1.07 billion) to building its new Malaysian headquarters in TRX.

“This is significant for us, as HSBC was also one of the early believers in Canary Wharf (in London) and the Dubai International Financial Centre, our inspirations.

“We also have Lendlease Corp Ltd, who will jointly develop the Lifestyle Quarters, Mulia International Group, who is building the Signature Tower, Veolia who is the concessionaire for our wastewater recycling plant, and the list is still expanding as we speak,” said Azmar.

Azmar said once TRX is open for business, the TRX station will be the busiest station in KL, with two lines and up to 25,000 passengers every hour at its peak.

Meanwhile, InvestKL Malaysia CEO Datuk Zainal Amanshah, when met at the same event, said 13 ambassadors and representatives from 21 countries were brought to the TRX site yesterday to witness the progress of the project.

Among those are from the UK, France, Belgium, New Zealand, Kazakhstan, the Netherlands, China and Japan, he said.

“There is still interest here despite concerns in 1Malaysia Development Bhd. The investors’ confidence is still there as the fundamentals continue to be strong.

“We are also pushing for Digital Malaysia for companies begin to have their hubs here too,” he said.

Zainal said InvestKL is set to attract 10 multinational companies (MNCs) this year and on track to secure 100 MNCs by 2020.

“This year has been very good. We shall be on track to meet our target.

“To date, InvestKL has attracted 65 MNCs with approved and committed investments of over RM10 billion (since 2011) and to create 10,000 regional jobs.

“It’s all going well, with realised investments reaching more than 30%, while jobs on payroll now are over 60%,” he said. — Bernama