As one of the biggest construction companies and property developers in Malaysia, IJM Corporation Bhd (IJM), has hit another milestone, with the opening of Menara Prudential, the first building to be completed in the new international financial district.
The 27-storey office tower, initially developed by TRX before IJM purchased it in 2017, is the new Prudential group Malaysian headquarters, housing over 3,000 employees from its five business entities. Built by IJM’s Construction Division, the building was completed in December 2018, and Prudential employees moved from their former premises in Jalan Sultan Ismail in June this year.
The building has a modern contemporary design that incorporates the traditional Malaysian element of tengkolok di-Raja. It was launched by YB Tuan Lim Guan Eng, Minister of Finance, earlier this month. IJM has now leased 84% of the building’s net lettable area.
Menara Prudential’s smart and sustainable building design uses A.I in its facilities management to optimize energy consumption for lighting and temperature performance. Using the state-of-the-art Building Integrated Modelling technology which helps avoid and reduce construction complications, the building also has energy-efficient high-speed elevators with Destination Control System, and a green verge including plantings, a terrace with dining options, and a connecting bridge help to connect the tower with the wider TRX development.
It also has a 360° LED display that wraps around the building - a first of its kind in Malaysia.
“We are delighted to welcome Prudential as our tenant, where we expect both firm and its employees to thrive in what will arguably be Kuala Lumpur’s most iconic international business address.”
“In addition to Menara Prudential, IJM is currently undertaking two construction projects at TRX: HSBC Malaysia and Affin Bank’s new headquarters. These projects are a testament to IJM’s solid track record and expertise as a builder of prestigious, high-rise developments in the city center,” said Mr. Liew Hau Seng, CEO & Managing Director, IJM Corporation Berhad.
Read an excerpt of the conversation with Mr. Liew below:
1. Why did you choose to invest in TRX?
Our Menara Prudential investment provides an opportunity for IJM to develop a quality investment property and is in line with the company’s strategy to grow its recurring income asset portfolio.
We are also confident that IJM, with its solid track record and expertise as a builder and developer, will deliver a sustainable and world-class office space that befits Prudential Malaysia’s stature and business needs.
2. Why do you think TRX is the best address in KL?
TRX is set to turn Kuala Lumpur into an important financial center in the region, building upon Malaysia’s global reputation in Islamic finance. As the nation’s first international financial district, we are looking forward to TRX becoming home to some of the world’s prominent banks and financial institutions.
More than just a world-class financial center, TRX also has the potential to be a “liveable, sustainable financial district” with its Lifestyle Quarter – comprising a hotel, residential towers, a retail mall, and a multi-layer central park. This urban lifestyle collective of residential, leisure, retail and entertainment options will bring life and activity to the area, adding to the financial hub’s vibrancy, after office hours; turning TRX into a thriving work, live and play destination.
3. What are your views on TRX’s vision and positioning of becoming an international financial center (IFC)?
To thrive, an IFC must be/have:
- Access to skills – able to attract and retain talent
- Anchored in a high-quality urban environment
- Market proximity and business opportunities – close to markets, clients and partners
- Economic influence – located in a city with national and global influence
- Quality of development – offering high-quality offices and best-in-class infrastructure
- Excellent connectivity – integrated transportation and road infrastructure
IJM believes these are the factors that have helped shape the attractiveness of TRX as an IFC.
4. What would be the other key elements that you would want from TRX as a district, once you have moved in?
We hope TRX City, the master developer, its government stakeholders as well as TRX’s joint venture partners and investors will continue to work cohesively to realize TRX’s growth aspirations in attracting financial talents, capital flows, information, and financial technology from around the world.
We are also looking forward to TRX becoming a thriving business and lifestyle destination, with its variety of world-class retail and dining venues, vibrant leisure and entertainment scene, prime residential, hotels and public spaces.
