Lendlease acquires additional plot within TRX
This is the second joint-venture agreement between Lendlease and TRX City Sdn Bhd.
An additional 1.2-acre plot of land within the Tun Razak Exchange (TRX) in Kuala Lumpur was added to Lendlease’s assets.
This was the result of a second joint-venture agreement between Lendlease and TRX City Sdn Bhd (TRXC) with the land set to be used for a mixed-use development featuring hotel, residential and retail. Prior to this, the two currently have a partnership regarding the development of a 17-acre lifestyle centrepiece, The Exchange TRX.
“We see strong potential in Malaysia and are excited to support Kuala Lumpur in achieving new levels of sustainability and liveability. Our continued collaboration with TRXC represents a strategic partnership with an organisation that shares our vision and purpose of creating value through places where communities thrive,” said Stuart Mendel, Managing Director and Head of Malaysia, Lendlease.
The new plot is adjacent to the main pedestrian gateway of TRX, the Raintree Plaza, which is connected to the Bukit Bintang shopping district.
As of now, the value of the entire TRX development is pegged to balloon past $12.84b (RM40b).