Revolutionizing Urban Living: How the Tun Razak Exchange is Transforming Malaysia’s Cityscape
The Exchange TRX and its impact on the retail, residential & commercial sector in Kuala Lumpur
The Exchange TRX, the retail component of the Tun Razak Exchange (TRX) development in Kuala Lumpur, is now open to the public. With more than 400 stores spread across 1.3 million sq. ft. of nett lettable area (NLA), The Exchange TRX redefines the KL retail landscape with a unique invitation to discover the future of experiential shopping, sustainable urban living as well as vibrant cultural expression. The Exchange TRX creates an exceptional and transformative space that sets new standards in the retail industry, residential community, and commercial sector. It is all about creating world-class, sustainable, and people-focused destinations. The grand opening of The Exchange TRX truly marks a momentous moment for all Malaysians, bravo!
Business, Financial and Lifestyle hub
A game-changing landmark that represents the heart of metropolitan KL as well as a 17-acre (6.9-hectare) lifestyle and entertainment hub of TRX, The Exchange TRX aims to enhance the community's quality of life, and contributes to the city’s and country’s financial economy and national growth. Located in TRX's international financial district, The Exchange TRX is a 60:40 joint-venture between famed Australian property group Lendlease and TRX City Sdn Bhd (TRX City), master developer of Malaysia’s inaugural international financial centre (IFC). The integration of premium retail experiences and contemporary lifestyle amenities solidifies TRX as among the premier destinations for business, finance, and lifestyle within the region. The Exchange TRX comprises six residential towers, a hotel and office building as well as a rooftop public-activated park called TRX City Park. It is also the first retail complex in Malaysia to achieve the prestigious LEED Gold Certification, a testament to its enduring commitment towards developing eco-friendly lifestyle and sustainable living in real estate.
Premier Leisure and Shopping Destination
The Exchange TRX celebrates local and international gastronomy with specialty dining outlets across five dining precincts. Food Exchange brings the best of traditional hawker fare, featuring local delights and delicacies. Concourse Dining offers upscale or opulent international cuisines while Park Dining consists of six unique dining experiences with garden-theme inspired interiors providing a perfect backdrop for private and corporate events. Premium Dining combines gastronomy and aesthetics to present an exquisite and luxurious dining ambience. Whilst the alfresco Dining Terrace serves as an ideal place for hanging out and socialising. Then there is the largest HOKA store in Kuala Lumpur as well as Seibu, one of Japan’s largest departmental stores, spanning four levels and occupying a whopping 250,000 sq ft of floor area. Exchange TRX stands out as a premier retail and lifestyle hub, housing flagship stores that showcase a diverse mix of international and local brands. This creates a bustling atmosphere with a wide selection of stores for all level and budget of shoppers, thus elevating the retail and lifestyle experience for both diners and visitors alike.
Seamless Connectivity and Accessibility
The Exchange TRX is linked to the Bukit Bintang shopping belt and KLCC via a pedestrian boulevard. It also leverages on TRX’s hassle-free vehicular and pedestrian access, and adjoins the Tun Razak Exchange (TRX) MRT Station. This comprehensive transportation infrastructure positions TRX as a connectivity hub, with the TRX interchange station serving as an interchange hub between MRT Kajang Line and MRT Putrajaya Line. There is seamless connectivity to a network of highways such as Maju Expressway (MEX), Setiawangsa-Pantai Expressway (SPE) and Duta-Ulu Kelang Expressway (DUKE 3) by providing alternative routes to key destinations in the Klang Valley as well as through SMART Tunnel, hence bypassing surface road traffic.
Within the precinct of Exchange TRX, a web of pedestrian network of walkways provides easy access within walking distance to the park, retail, residences, hotel, and office spaces. A dedicated linked bridge connecting TRX City Park with the CORE Residence @ TRX represents a major achievement in the project's construction. The connected bridge spans two lanes of traffic and rises three stories above the ground. The 10-acre TRX City Park, Southeast Asia's largest rooftop park, is the only park in Kuala Lumpur with a direct link to the MRT transportation system or network. With such strategic accessibility and seamless connectivity, properties within TRX be it residential or commercial, will surely witness a tremendous gain in property value.
Flagship Residential Developments
Situated at the heart of Tun Razak Exchange (TRX) district with a prime location and an array of amenities, TRX Residences is the perfect place to call one’s dream home. It features 896 residential units with a built-up area from 474 sq ft to 3,854 sq ft, and an initial selling price of RM960,000. CORE Precious Development Sdn Bhd is the developer of the RM1.4 billion CORE Residence @ TRX launched in 2019. CORE Precious Development is a joint-venture company between WCT Holdings Bhd and China Communications Construction Group (CCCG). The project features three blocks of serviced residences with 700 residential units, priced between RM1.44 million and RM2.48 million (about RM2,200 per sq ft). These landmark residences have attracted great interest from investors all over the world, including Malaysia, Thailand, China, Singapore, South Korea, and Japan. Property value in the vicinity of KL is anticipated to appreciate due to the buzz of TRX.
Retail and Commercial Competition
The Tun Razak Exchange (TRX) goes beyond being a commercial hub, offering a sought-after residential experience with posh or opulent condominiums as well as lavish or luxurious residences designed for modern urban living. The Exchange TRX is set to become a serious contender in the competitive retail space of KL city centre. It is strategically positioned to compete head on with the likes of Pavilion KL and Suria KLCC. The opening of The Exchange TRX is expected to generate greater retail space rivalry in the real estate investment trust (REIT) sector or scene. Suria KLCC’s iconic status as part of the KLCC Twin Towers would not be greatly impacted by The Exchange TRX compared to Pavilion KL. Mid Valley Megamall also experiences a less severe impact due to its strategic location, product offerings, and a captive market. Both Mid Valley and The Gardens possess full occupancy rates, positive rental rates as well as a strategic location surrounded by abundant office spaces and mature residential areas. Commercial properties within this transit-oriented development (TOD) project are also expected to boom in the foreseeable future.
Malaysia My Second Home (MM2H)
The current stringent MM2H scheme, established in August 2021, has imposed new conditions, including prerequisites for applicants to have permanent savings of at least RM1 million, and a declaration of liquid assets amounting to at least RM1.5 million. Applicants are also required to have an offshore income of at least RM40,000 per month, an increase from RM10,000 per month previously. If the conditions remain too strict, foreign applicants would weigh other options or alternatives which are more flexible and affordable. The combination of mega infrastructure launches, reactivation of MM2H programme as well as the reopening of national borders have generated much enthusiasm and excitement for property markets both domestic and abroad. Prospective buyers from overseas are also on stand-by until their respective governments give them the green light of approval to migrate. CCCG and its partner WCT Holdings Bhd via a joint-venture company CORE Precious Development Sdn Bhd (CPD) has developed CORE Residence, a luxury freehold project worth RM1.4 billion in gross development value (GDV) in Tun Razak Exchange (TRX). As such, Malaysia My Second Home (MM2H), which the Madani government is reviewing, should augur well for such an avant-garde development.
A Bright and Prosperous Future
Amidst the countless challenges surrounding the retail industry and property sector, The Exchange TRX has emerged as a vital or pivotal landmark, strategically positioned in the metropolitan capital of KL. Aspiring to be a global financial hub, it seamlessly blends financial, commercial, residential, and recreational spaces. Infused with smart technologies, sustainable design/architecture, and a commitment to fostering a vibrant and connected community. Tun Razak Exchange stands at the forefront of urban development; seamlessly blending innovation, lifestyle, and culture. As it continues to reshape the city skyline and redefine urban living, its continual growth is a testament of Malaysia's vision towards change, progress & transformation.
About Lendlease and TRX City
Lendlease is a globally integrated real estate group with worldwide operations in Australia, Asia, Europe as well as the United States. Lendlease’s motto or mission is all about creating places where the communities thrive. Headquartered in Sydney, Australia and listed on the Australian Securities Exchange, its core capabilities are reflected in its key operating segments of investments, development, and construction. Combination of the three segments offers a sustainable competitive advantage in delivering innovative integrated solutions for clients and customers. It aims to create world-class, sustainable, and community-centric destinations that not only meets but exceeds the expectations of consumers, enriches the local culture, and makes a significant and positive impact on the country’s retail and economic landscape. For more details on LendLease, visit: www.lendlease.com
TRX City Sdn Bhd (TRX City) is wholly owned by the Malaysian Ministry of Finance and is the master developer of Tun Razak Exchange (TRX), Malaysia’s International Financial Centre. TRX City ensures global best practices, developers' innovative master plans, and integrates smart, sustainable, well-connected, and a future-proofed infrastructure. As the company that leads the project from vision to execution, TRXC undertakes all planning, marketing, enhancement, management, and infrastructure provisions for the project. For more information on TRX, visit www.trx.com.my