The Sydney-based Lendlease’s investment on TRX, its largest in Asia, will further cement the company’s position as an important player in Malaysia’s lifestyle property market with its remarkable portfolio ranging from retail to hospitality projects.
Lendlease, an Australian lifestyle property developer, has been appointed to develop the 17-acre Lifestyle Precinct of the Tun Razak Exchange. Slated to involve investment of RM 8 billion, the project comprises a luxury hotel, six residential towers and a large retail mall, The Exchange, built around a multi-layered central park
Lendlease’s investment on TRX, its largest in Asia, will further cement the company’s position as an important player in Malaysia’s lifestyle property market. The Sydney-based firm was responsible in bringing fresh lifestyle concepts to Malaysia with its remarkable portfolio ranging from retail to hospitality projects.
The development of Suria KLCC at the foot of the iconic Petronas Twin Towers was one of Lendlease’s early forays into the Malaysian retail property development. Opened in May 1998, Suria KLCC revolutionised the retail scene in Kuala Lumpur and quickly became a benchmark for the development of other malls in the country, including Alamanda in Putrajaya, another development by Lendlease.
After the success of Suria KLCC and Alamanda, Lendlease continued to invest in Malaysia’s retail development, but with an enhanced twist; the increase of environmental sustainability focus. One of the largest in Malaysia, Setia City Mall attracted 260,000 visitors during its first four days of operation in 2012 and set a high environmental benchmark for retail development in Malaysia. Two percent of the energy consumed by the mall is derived from solar power, and the use of efficient fittings has reduced its water use by 50 percent.
Lendlease’s expertise in environmentally sustainable development was further manifested by the completion of Platinum Park, a Grade A commercial and office building in Kuala Lumpur. The 50-storey building, completed in 2015, is one of the first premier commercially sustainable buildings carrying the PLATINUM & GOLD ratings under the Malaysian Green Building Index (GBI) rating scheme.
