A Financial District For The Future
TRX is an iconic 70-acre development in the heart of Kuala Lumpur that is set to become a leading centre for international finance and business.
With an estimated Gross Development Value (GDV) of RM40 billion, the development will encompass investment grade A office space underpinned by world-class residential, hospitality, retail, leisure and cultural offerings.
TRX is a strategic enabler of the Malaysian government’s Economic Transformation Programme (ETP) which will further strengthen Kuala Lumpur’s role as the country’s financial capital, by the creation of a seamless and central business environment for financial services firms, multinational companies (MNCs) and supporting ancillary businesses.
Greater Kuala Lumpur (Greater KL) is a 2,793 km2 metropolis with a population of over six million1. As Kuala Lumpur is increasingly recognized as an emerging city in the world2 with its growing upper-middle class, knowledge-based workforce and well-developed infrastructure, TRX is poised to become the next leading finance and business district in Asia.
Strategically located at the southern gateway to Kuala Lumpur’s city centre, TRX is flanked by main arterial roads. It is a natural extension to the Golden Triangle – the city’s commercial, entertainment and shopping belt. TRX will offer unrivalled connectivity to the existing city centre and the rest of Greater KL with its excellent accessibility and connectivity via an integrated underground Mass Rapid Transit (MRT) interchange station as well as direct connectivity to key roads and major highways such as the SMART Tunnel, MRR2, Jalan Tun Razak, Jalan Bukit Bintang, and Jalan Sultan Ismail, including a convenient 35-minute drive via the Maju Expressway (MEX), also known as the Kuala Lumpur-Putrajaya Expressway, directly to Kuala Lumpur International Airport (KLIA).
Malaysian Prime Minister Najib Razak has identified TRX as a strategic priority for the country and has assembled a special TRX Task Force to directly assist with facilitating investments and business operations, the ease of doing business, and setting up of businesses within TRX.
1 Investing in Greater KL – Facts and Figures, InvestKL.
2 2014 Global Cities & Emerging Cities Outlook, AT Kearney.
The master plan includes a total of 26 buildings and over 21 million ft2 of total building Gross Floor Area (GFA) spread across office, residential, hotel, retail, F&B and cultural offerings. TRX has a development period of 15 years to be completed in phases with the initial Phase 1 slated for completion in 2017/2018. Upon its completion, the district is expected to contribute towards job creation, attracting knowledge-based talent, increasing the number of world leading companies to the city, and drive greater economic growth for the country. This national project will vastly support ETP’s goal to raise Malaysia’s Gross National Income per capita to USD15,000, create 3.3 million jobs and secure USD444 billion in investments by 20203.
The first phase of development of TRX is anchored by up to four investment grade A office towers including the Signature Tower, a lifestyle retail mall, up to two 5-star hotels, up to six upscale residential towers, with 24% of the total site area dedicated to open space, most of which will be made up of a large central urban park.
A master-planned development with a world-class business eco-system, TRX continues to see keen interest from investors and tenants. A truly ground-breaking development, TRX will set benchmarks in Malaysia and the region for many years to come.
3 ETP Annual Report 2013.
In June 2014, the international property and infrastructure group, Lendlease, was chosen by TRX City Sdn Bhd (formerly known as 1MDB Real Estate Sdn Bhd) to be a major investor partner to develop the Lifestyle Quarter in TRX, which will consist of a 2 million ft2 retail mall seamlessly connected to TRX’s multi-layer central park, six residential towers and a hotel. An official signing ceremony was held to commemorate this exciting joint venture partnership between TRX City and Lendlease.
Subsequent partner on board was Veolia Water Technologies Southeast Asia which TRX City has signed a 20-year concession agreement with for wastewater treatment and recycled water supply in TRX. The wastewater treatment plant to be built and operated by Veolia will be a key component of TRX’s sustainability framework, supplying recycled water and cutting water demand by more than 50%.
In May 2015, TRX City has signed Indonesia’s leading property developer Mulia Group on board to develop its Signature Tower. The landmark Signature Tower building will be a highly visible focal point for TRX, targeted to be the best international business address in Kuala Lumpur. As it will be TRX’s tallest building and have its largest floor plates, the tower is poised to be a Prime Grade A office space in Kuala Lumpur.
In August 2015, it was announced that Affin Bank’s new head office will be part of TRX’s financial quarter, essentially the Central Business District of TRX that occupies the most visible corner of the site, fronting both Jalan Tun Razak and Jalan Sultan Ismail.
In Oct 2015, TRX City awarded a two-year contract to WCT Berhad, which covers underground road structures, installation of direct buried utilities, at-grade and elevated roadway, as well as associated earthworks and mechanical and electrical works. This follows an earlier award of earthwork contract package in 2013. Separately, WCT Group is also buying a plot of residential land in TRX as part of its strategy to seek opportunities in prime development with strong growth and earning potential.