Lendlease says fully committed to TRX lifestyle quarter

An aerial view of TRX Tower in Kuala Lumpur May 30, 2018. — Picture by Mukhriz Hazim
An aerial view of TRX Tower in Kuala Lumpur May 30, 2018. — Picture by Mukhriz Hazim

KUALA LUMPUR, June 24 — Lendlease says it remains fully committed to transforming the Tun Razak Exchange (TRX) Lifestyle Quarter into one of its largest urban regeneration developments globally.

The Australian developer and infrastructure firm partnered with TRX City Sdn Bhd, a wholly-owned subsidiary of the Finance Ministry, to develop the TRX Lifestyle Quarter.

“This significant city project will provide thousands of new jobs, leading technology and the best international standards of design and sustainability contributing to the future of Kuala Lumpur.

“The Lifestyle Quarter includes seamless connections to the new MRT network and adjoining public plazas. Leasing, design and construction all continue to make very positive progress,” Lendlease told Bernama.

The 6.88-hectare Lifestyle Quarter is a central part of the overall TRX new financial district masterplan and includes a lifestyle retail mall, restaurants, hospitality and leisure offerings, residential condominiums and a new city park.

Lendlease said the project would be delivered through its integrated business model, which would be leveraged throughout the course of delivery.

“Lendlease has been delivering projects across a broad range of sectors in Malaysia for over three decades, and we remain committed to Malaysia and will continue to build on our presence here.

“We are open to exploring any good investment opportunities that may come our way,” it added.

On Thursday, Finance Minister Lim Guan Eng announced that the government decided to proceed with the TRX project and inject an additional funding of RM2.8 billion into the project, bringing the total funding by the government to RM6.5 billion.

Lim said the RM2.8 billion fund injection would create confidence among foreign investors who have invested in the project.

TRX City had sold parcels of land to local and foreign investors such as Mulia Property Development, HSBC, Affin Bank, Lembaga Tabung Haji, WCT, Lendlease and IJM. — Bernama

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