This article is from the Australian Property Journal archive
LENDLEASE is pushing ahead with the development of its Lifestyle Quarter at Tun Razak Exchange in Kuala Lumpur, after its agreement with joint venture partner TRX City Sdn Bhd was made unconditional.
The circa 6.88-hectare site will comprise the newly unveiled city centre retail mall, named The Exchange TRX, as well assix residential towers, known as TRX Residences, , a luxury hotel and a park.
The Exchange TRX is slated for completion by 2020 and will comprise 500 retail lots across approximately 120,774sqm, and 3,000 parking spaces.
The residential towers will be launched in the first half of 2018.
“The project will be developed in stages through a joint venture with Lendlease owning 60 per cent and TRX City owning 40% of the partnership. The estimated development end value is expected to be RM8 billion,” a statement from Lendlease said.
The group will also be the development and construction manager for the Lifestyle Quarter project.
Project partner TRX City is an indirect, wholly-owned subsidiary of the Minister of Finance Inc, Malaysia.
Australian Property Journal
