TRX shaping up well with better investor confidence

Aerial view of TRX’s Signature Tower that is under construction

“Our strong investor and tenant response is a testament to that,” he said, adding that out of the 29 development plots on TRX, about 60% were commercialised.

He said the TRX’s ‘Lifestyle Quarter’, jointly developed with Australia’s Lendlease, would contain ‘The Exchange’ - a lifestyle mall with over 500 shops - a luxury hotel and residential towers built around the central urban park.

Meanwhile, the ‘Signature Tower’, a 92-storey tower anchoring the development, is developed by Mulia Group.

TRX has also seen increased investor confidence following the transfer of its ownership from 1MDB to the Finance Ministry.

Azmar also confirmed that TRX’s development was on track with the first phase scheduled for completion in 2018/2019.

Among others, he said TRX had set aside RM3bil to create a world-class sustainable infrastructure for the upcoming financial district. 

This included a loop tunnel system, direct link to major thorough fares in the area and a four hectare urban park. 

“There are eight packages altogether under our infrastructure programme. Package one, the earthworks, has been completed.

“Two contracts - the road infrastructure and the water utilities packages - are currently underway,” Azmar said.

In May 2016, TRX tendered out the next phase of infrastructure work that included the construction of Jalan Tun Razak-TRX Ingress and Egress (underground tunnel), MEX-TRX Ingress (elevated), SMART-TRX Ingress and Egress (underground tunnel), as well as, related works. 

“We expect to award the package in the first quarter of 2017,” he added. - Bernama