The Exchange TRX, the lifestyle centrepiece of the Tun Razak Exchange (TRX), was officially launched last month, officiated by Finance Minister, Lim Guan Eng.
With a forecasted gross development value of circa RM9 billion, The Exchange is expected to be completed in stages from 2020 to 2025.
Previously known as the Lifestyle Quarter, the project is a 60:40 joint-venture between Lendlease and TRX City. The Exchange is set to capture the “spirit of place” of what will undoubtedly be a cosmopolitan and people-focused city centre district.
“This a unique opportunity that reflects the very best of modern city design, combining living, working and leisure uses, with excellent public transport and technology,” said Tony Lombardo, Lendlease Asia’s CEO.
The 17-acre precinct in the middle of TRX will comprise a hotel, a grade A office, residential apartments, retail and leisure offerings - all clustered around a new 10-acre multi-level city park which cascades over the luxury shopping mall.
The city park connects all buildings and areas within TRX using tumbling, terraced greenery, water features and beautiful shaded sections.
The intertwining, segmented park allows for anything from quiet contemplation, alfresco dining and outdoor working spaces, to sports and children’s play, all the way to serving as KL’s most scenic location to host red carpet galas, festivals, concerts, movie premiers, international exhibitions and more.
The shopping mall integrated into the park will be anchored by Japanese giants, Seibu’s largest concept departmental store in the country.
Visitors will be able to discover never-before-seen Japanese brands in Malaysia, alongside showcases of Japanese culture at its best from cuisine to fashion, music and the arts.
Complementing this central attraction will be the most unique area within The Exchangededicated to aspiring entrepreneurs offering quirky takes on culture and lifestyle.
Expect live music, underground happenings, specialty stores, artisan markets, imaginative restaurants and collaborative co-working niches to spring up along pedestrianised streets and event facilities.
Lendlease is confident of The Exchange’s appeal, both locally and internationally.
“It will create a new destination for the city and be a showcase for Malaysia,” Lombardo concluded.
The real estate giant brings more than 30 years’ experience in construction, urban regeneration and public space development, with projects dotted across more than 40 countries.
These include New York’s 432 Park Avenue, the tallest residential building in the Western Hemisphere, and the Athlete Village’s in London which was creatively designed to be reused as residential apartments upon completion of the 2012 Olympics.
Nature and culture come together in Barangaroo
One of Lendlease showcase urban renewal projects was Barangaroo in Sydney. Barangaroo, the regeneration of a disused container wharf in North West Sydney, is to date one of the world’s biggest urban renewal projects.
A few years ago, Lendlease moved its headquarters into Barangaroo South, a part of Australia’s newest financial district, and one of the company’s most ambitious undertakings to date.
First opened in 2015 and slated for full completion in 2024, the 54-acre district has started to remake Sydney’s urban plan and is a hit with locals and international visitors alike.
A particular draw is the spectacular Barangaroo Reserve, a meandering waterfront park with the Harbour Bridge as backdrop.
The 15-acre parkland traces the city’s pre-European settlement shoreline, recreating coves, mimicking the rocky seaside and featuring 75,000 plants native to Sydney.
Consistent with this naturalistic setting, Barangaroo South’s world-class towers come complete with top-notch sustainability standards.
Another key element to the district’s success is a commitment to creating a lively cultural soul that underpins the district.
The innovative Barangaroo Public Art and Cultural Plan, a multi-million dollar investment in arts and culture programming, will be fully funded and delivered at no cost to taxpayers. The programme includes public art installations, cultural events and performances.
Lendlease is contributing $20 million to public art on the site and it has independently established another fund of $20 million for art in Barangaroo.