KUALA LUMPUR, 13 May 2015: Tun Razak Exchange (TRX), Kuala Lumpur’s upcoming international financial district, announced today that it has signed Indonesia’s leading property developer Mulia Group on board to develop its Signature Tower.
This follows the signing of the Sale and Purchase agreement between 1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of TRX, and the Mulia Group for the development rights of the plot. The land transaction is valued at RM665 million.
1MDB RE Chief Executive Officer Dato’ Azmar Talib said, “We are pleased to have the Mulia Group on board towards realising the potential of the Tun Razak Exchange. This significant investment underscores foreign investor confidence in Malaysia.”
The Mulia Group, which has a leading market share for premium commercial properties in Jakarta, developed, owns and manages seven premier office buildings in Jakarta’s central business district, including the Wisma Mulia 1 and 2.
Wisma Mulia 1 and 2 are ranked amongst Jakarta’s tallest and most prestigious office buildings that together house key global and local blue-chip companies in Indonesia. The Mulia group has also developed and managed internationally renowned hotels, and residential and shopping mall properties.
Eka Tjandranegara, President Director and owner of the Mulia Group said, “As one of the biggest commercial property developers in Indonesia, we are excited to be embarking on this project to develop the Signature Tower to become the new landmark of Kuala Lumpur city. Our Mulia Group wishes to be an integral part of this iconic state-of-the-art development not only for Malaysia but for the region and beyond.”
“We see TRX’s potential to further develop the city’s role as a financial capital, and the Tun Razak Exchange aids our growth and expansion plans. I am committed to personally seeing this project through, drawing from our vast experience.”
The Mulia Group’s properties also include their award-winning Hotel Mulia Bali which essentially comprises of The Mulia, Mulia Resort & Villas in Nusa Dua, Bali. In the past two years, the resorts have been awarded six prestigious awards by Condé Nast, with the latest award placing Mulia Bali as the #1 Beach Resort in the World.
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.
Mulia Group now joins the list of investors such as Lend Lease International, a global property and infrastructure group developing the RM8 billion Lifestyle Quarter; and Veolia Water Technologies, whose water management technology will halve potable water use in TRX.
TRX is investing significantly in its infrastructure to create a truly accessible world-class financial hub. Tenants are expected to enjoy unrivalled connectivity to the city center and the rest of Greater KL, being a few steps away from the largest integrated underground MRT interchange station.
The MRT will connect TRX to the upcoming High Speed Rail terminus station at Bandar Malaysia, linking TRX to Singapore’s financial center.
TRX will also have direct link to key roads and major highways such as SMART, MEX, Jalan Tun Razak and Jalan Sultan Ismail. It is working with Dewan Bandaraya Kuala Lumpur in uplifting the Imbi area, by upgrading surrounding streetscapes and constructing a pedestrian avenue that connects TRX with the Bukit Bintang shopping district.
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About 1MDB Real Estate Sdn Bhd
1MDB Real Estate Sdn Bhd (“1MDB RE”) is a wholly owned subsidiary of 1MDB. 1MDB RE is a master developer of strategic developments that support the Government’s Economic Transformation Programme. 1MDB RE is focused on the creation and delivery of world-class real estate developments that enable long-term sustainable economic growth. 1MDB RE is undertaking two landmark development projects in Malaysia, namely the Tun Razak Exchange (TRX) and Bandar Malaysia, a new city district of KL. Their landed assets exceed 500 acres of prime real estate. Visit www.trx.my to learn more.
Spread over 70 acres of prime freehold land minutes from the PETRONAS Twin Towers, TRX is a key step towards the goals of the Government’s Economic Transformation Programme to turn Malaysia into a high income economy by 2020. This mixed-use development in the heart of Kuala Lumpur would encompass a new international financial district underpinned by world-class residential, retail, leisure and cultural offerings.
About Mulia Group
Mulia Group, Indonesia’s leading commercial property developer, is renowned for its strong portfolio of prestigious office towers set in prime commercial districts. From architectural design through to construction, marketing and property management, Mulia Group’s team of international and local specialists creates hassle-free, turnkey office environments for multinational companies, prominent government departments and global financial organizations. The tenant mix of Mulia Group properties is constantly reviewed and existing developments are regularly refurbished to meet the changing demands of the marketplace. The constant high standard, emphasis on value-added services, incentives and quality assurance results in award-winning landmarks such as Hotel Mulia Senayan, The Mulia, Mulia Resort & Villas, Nusa Dua, Wisma Mulia and Wisma GKBI, as well as Taman Anggrek Mall & Condominium, amongst Jakarta’s largest and advanced integrated retail and residential complex.