KUALA LUMPUR: TREC, a RM152mil lifestyle and entertainment development at Jalan Tun Razak here, is expected to be completed by the end of next year.
The project which is developed by Avant City Sdn Bhd, a company 35%-owned by Modern Falcon Sdn Bhd, which is led by Cher Ng, the founder and managing director of TREC and the co-founder and owner of Zouk KL, 35% by the Daman Group and 30% by Berjaya Assets Bhd.
The seven-acre lifestyle and entertainment hub located across the Tun Razak will be similar to Hong Kong’s Lan Kwai Fong, China’s Xin Tian Di in Shanghai and Singapore’s Clark Quay. It will be built on land owned by the Royal Selangor Golf Club that has a lease tenure of 34 years.
TREC will have among others fine dining outlets, indie cafés, pubs, clubs and lounges to attract both local and international patrons.
According to Ng, a 70% tenant mix had been secured so far and that the company was still actively courting other tenants. “We are talking to tenants from as far as the United Kingdom, Singapore, Indonesia, and Thailand. But a large number of them are from homegrown brands,” Ng said at a press conference on Monday.
The project which is listed by the Tourism Ministry as an entry point project under the Tourism National Key Economic Areas aims to attract a minimum of 1,000 tourists per day.
“This will also be a place for tourists to come as an entertainment centre. Zouk KL, will relocate from Jalan Ampang to TREC in the beginning of next year,” Ng said.