PETALING JAYA (May 28): Australian developer and infrastructure firm Lendlease seeks to continue its joint venture with TRX City Sdn Bhd to develop The Exchange TRX at the 70-acre Tun Razak Exchange (TRX) international financial district.
“We look forward to continuing our collaborative working relationship with master developer’s TRX City in achieving the common goal of a successful project delivery that will strengthen Kuala Lumpur’s position as the defining gateway city in Southeast Asia and broader Asia,” it said in a statement to EdgeProp.my.
The developer has a 60:40 joint venture with TRX City to develop the TRX Lifestyle Quarter, which the Exchange TRX retail component is a part of.
In September last year, the company said 26% of its retail space had been leased out and it expects to open its doors by 2020.
According to Lendlease’s website, the TRX Lifestyle Quarter is its biggest integrated development in Asia.
“It is located in the heart of Kuala Lumpur and will complement the government’s vision to transform the broader TRX precinct into a world-class business and financial hub,” it said.
Earlier reports said investors — including Lendlease — were seeking clarity over the status of the financial district, as it is one of several projects currently being reviewed by the new government seeking to cut the national debt level, which currently stands at RM1 trillion.