TRX ramping up construction to meet revised completion targets

TRX ramping up construction to meet revised completion targets

New Straits Times, 1st December 2021

The construction activities at Tun Razak Exchange (TRX) is almost back to the pre-pandemic level, with both TRX City Sdn Bhd and Lendlease Group committed to ramping up activities to meet its revised completion targets.

TRX City chief executive officer Datuk Azmar Talib said there (has been) an impact on the construction operation in the last few months due to the resultant lockdowns.

"We are also facing severe supply chain disruptions. This affects our suppliers as they can not supply the building materials to us, and some do not even have permits to operate under the movement control order (MCO).

"However, we are able to do partial work. We are very strict in our workers' safety and adhere to the standard operating procedure (SOP).

"TRX City is also working very closely with authorities to ensure that our workers are safe," he told the media briefing.

Azmar said the overall infrastructure at the 28.3-hectare development had seen 80 per cent completion, while the Exchange TRX is expected to be completed in the fourth quarter of 2022.

On the other hand, the Affin Bank headquarters is expected to be completed by the first quarter of 2022, while the TRX Residences and Core Residences towers will be completed in 2023.

The entire TRX project is expected to be completed in phases over the next 15-20 years.

TRX opened its doors in 2019 with the operations of Menara Prudential and The Exchange 106.

Lendlease Malaysia managing director and country head Stuart Mendel said the workforce at The Exchange TRX currently stood at around 3,000 workers - almost the same as the pre-pandemic level.

On the mall take-up rate, Madel said about 50 per cent of the entire retail space had been leased out, and the company is expecting to secure tenants for the remaining space within the next 12 months.

"We have roughly 12 months or so to go (to meet the completion target), we are happy with that 50 per cent and will be able to lease the rest of it over the next 12 months.

Lendlease Group is the developer of the retail-led mixed development part of The Exchange TRX.

The 28.3-hectare development is a joint venture between Lendlease (60 per cent) and TRX City Sdn Bhd (40 per cent).

"As for now, we will have three main anchors for the mall. This includes multiplex cinema operators (Golden Screen Cinema), international grocery chain (Dairy Farm) and Japanese department store (Seibu)," he added.