The retail segment of the mixed development is expected to be completed in 2022 and TRX Residences in 2023
By S BIRRUNTHA / Pic By RAZAK GHAZALI
THE Exchange TRX is on track for completion despite being forced to temporarily suspend construction work in March last year due to Covid-19 restrictions.
Lendlease CEO of Asia Tony Lombardo said above-ground construction on the project’s residential towers has started, with the retail segment of the mixed development expected to be completed in 2022 and TRX Residences in 2023.
“All available units in Tower A TRX Residences have been sold and our sales for Tower B have been very well received. The non-Bumiputera units of Tower A have also been taken up.
“We continue to make positive sales for our latest launch, Tower B, since last September and we expect this positivity to grow,” he told The Malaysian Reserve in a recent interview.
Formerly known as the Lifestyle Quarter, the 17-acre (6.88ha) retail-led mixed development in the Tun Razak Exchange (TRX) in Kuala Lumpur (KL) is a joint venture between Australian developer and infrastructure firm Lendlease (60%) and TRX City Sdn Bhd (40%).
Lombardo said more than 50% of the retail part of The Exchange TRX development has been leased or is currently under negotiation.
The project has so far secured several key retail partners including Japanese department store Seibu Department Stores Ltd, an upscale supermarket brand by Hong Kong’s Dairy Farm International Holdings Ltd, and a new concept in cinema and entertainment by Golden Screen Cinemas.
“We continue to receive strong interest from potential partners and tenants for The Exchange TRX retail component.
“We are confident and remain committed to make The Exchange TRX as a lifestyle destination that brings socially immersive experiences to people in KL and believe that when we open our doors to the public, our experience-led destination will be able to come alive and be enjoyed by all,” he said.
The group is expected to introduce more key flagship experience stores at the integrated supermall next year, including new market brands, flagship statement stores, experiential dining, as well as leisure and entertainment concept stores.
“We are also looking forward to featuring five food and beverages precincts, which will offer unique local and international culinary experiences with an exclusive luxury dining space on the rooftop park. We will be making more announcements on the launches in the third quarter of the year,” Lombardo said.
The Exchange TRX will also focus on climate change and sustainability efforts apart from offering a range of business and leisure options.
Lombardo said The Exchange TRX has been consciously designed with a collection of climate-resilient buildings and supporting infrastructure.
“The threats of climate change are real and escalating, especially so in urban cities where the population is dense; stress on resources is high.
“It is important to access and approach the design of buildings according to these factors. For example, looking at the tropical
climate and heat in Malaysia, the use of energy has a lot to do with air-conditioning.
“The government has an ambitious target to reduce carbon emissions by 45% by 2030, and our agenda is pretty much aligned with that,” he said.
Lombardo said the group has identified features incorporated to mitigate four key areas of concern such as heatwaves, urban flooding, wildfires and water scarcity.
As such, the residences, hotel and office facades in The Exchange TRX have been designed above industry standard and will be equipped with high-performance glazing to reduce solar penetration into the buildings.
Lombardo said a site-wide water strategy has also been developed at The Exchange TRX to reduce water consumption.
“We are targeting to reduce potable water demand by 50%, through the selection of water efficiency measures, maximising onsite rainwater retention and water recycling systems to recover over 80% of wastewater.
“Recycled water produced by the plant will be used for toilet flushing, landscape irrigation and cooling tower make up,” he added.