By IZZAT RATNA / Pic By TMR
TRX City Sdn Bhd recently entered into strategic partnerships with Mass Rapid Transit Corp Sdn Bhd (MRT Corp) and Stormwater Management and Road Tunnel Sdn Bhd (SMART) that would allow railway lines to be brought into the Tun Razak Exchange (TRX) without the operator having to purchase the plot, while enabling TRX City to keep the development rights of the location.
TRX City CEO Datuk Azmar Talib said the mutual agreement with MRT Corp is part of the master developer’s efforts in utilising innovative ways to enhance TRX’s proposition as Kuala Lumpur’s (KL) best-connected address.
“As both the MRT and TRX are projects of significant national interest, we believe that the parties could benefit from this deal beyond just a land sale transaction,” he said in a statement yesterday.
MRT Corp CEO Datuk Seri Shahril Mokhtar said in the same statement that the partnership would enable TRX to be served by Malaysia’s most modern mass transit system.
“TRX will stand to benefit from not one, but two MRT lines. The excellent connectivity and accessibility this development will gain by being linked directly to the urban rail network will certainly boost its intended role as a world-class financial district,” he said.
TRX City’s agreement with MRT Corp also seals their co-existence arrangement to develop an underground station and railway tunnel on land in TRX.
At the same time, as the developer and asset owner of the Klang Valley MRT system, the joint venture also retains TRX City the right for future development of the above ground section.
Meanwhile, TRX City also signed an agreement with SMART that involves swapping of land and the relocation of SMART’s maintenance depot to a new location within the development.
Azmar said the partnership with SMART paved the way for more win-win collaborations with other government- owned infrastructure players in the future.
SMART COO Sharifah Alauyah Wan Othman said the venture with TRX City would further enhance the traffic infrastructure in Greater KL.
“SMART will work very closely with TRX for a smooth relocation. We would also like to assure our users that the traffic operations, and the tunnel’s integrity and security will continue to be of paramount importance,” she said.
TRX, which sits on a 28.3ha parcel of land, will have a direct access to the SMART system, providing it with connectivity to Greater KL’s southern corridor that includes areas such as Cheras, Seri Kembangan and Sungai Besi.
Its MRT station — which began operation since July this year is the only interchange between the Sungai Buloh-Kajang and the upcoming Sungai Buloh-Serdang-Putrajaya lines in the city — is crucial in making the financial district one of KL’s leading transit-oriented developments.