Leasing challenge for TRX

Asking price: The initial asking rent of RM17 per sq ft sought by Exchange 106 may come down to between RM11 and RM12 per sq ft. However, Lombardo (inset) is keeping mum on his asking rent for the Lifestyle Quarter.

THE existing trend of rising office vacancies in the Klang Valley is making leasing a challenge for the Tun Razak Exchange (TRX), with about 4 million sq ft of new office space expected to be ready by the first quarter of next year, real estate personnel say.

Real estate personnel face two challenges, the asking rent and the infrastructure which is yet to be ready.