TRX

KUALA LUMPUR — Tun Razak Exchange (TRX) will add its 10th commercial building by the second quarter (2Q) of 2029, marking a key milestone in the growth of Kuala Lumpur’s international financial hub.

TRX City Sdn Bhd chief executive officer Datuk Azmar Talib said the 39-storey tower is being developed in response to rising demand for premium office space, with existing buildings in the district nearing full occupancy.

“We are guided by data and demand, with strong momentum and projected full occupancy in the near term, the launch of this new tower is timely.

“The new building will feature flexible floorplates, multi-level security, easy access to the mass rapid transit station, and will comply with environmental, social and governance standards that define TRX as a future-ready workplace,” he said at the groundbreaking ceremony for the new TRX development today.

Meanwhile, Azmar said PricewaterhouseCoopers (PwC) Malaysia will be the anchor tenant of the 250,000 square foot building.

TRX and PwC have signed a binding head of terms with TRX City to relocate its headquarters from KL Sentral to the new tower.

“PwC is taking a 20-year lease on the new building. As the master developer of TRX, our role is to fund and develop the project.

“Moving forward, we plan to bring in a partner by selling equity in the special purpose vehicle established for this development,” Azmar added.

Azmar also highlighted that TRX has delivered over nine million square feet of gross floor area, comprising office, retail, hotel and residential components, and is now nearing full occupancy.

“Residential projects are more than 95 per cent sold, while office buildings currently in operation have reached close to 80 per cent occupancy based on net lettable area.

“More global companies are choosing TRX, including Ant International, Bin Zayed Group, Mitsubishi UFJ Financial Group Investor Services and others. These milestones reflect strong confidence in Kuala Lumpur’s potential as a business and financial hub.

“Over RM8 billion of investments have been realised in the 28.32-hectare TRX, which has over 20,000 knowledge workers,” he added. — BERNAMA