KUALA LUMPUR: The Tun Razak Exchange (TRX) has signed on Indonesia’s leading property developer, Mulia Group, to develop its Signature Tower at the upcoming international financial district here.
In a statement yesterday, it said 1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of the TRX, signed the sale and purchase agreement with Mulia Group for the development rights to the plot.
The land transaction is valued at RM665 million, it said.
1MDB RE chief executive officer Datuk Azmar Talib said, “We are pleased to have the Mulia Group on board towards realising the potential of the TRX.
This significant investment underscores foreign investor confidence in Malaysia.
The Mulia Group, which has a leading market share for premium commercial properties in Jakarta, developed, owns and manages seven premier office buildings in Jakarta’s central business district.
It includes the Wisma Mulia 1 and 2, ranked amongst Jakarta’s tallest and most prestigious office buildings.
Mulia Group president director and owner, Eka Tjandranegara said the company is excited to be embarking on the project to develop the Signature Tower to become Kuala Lumpur’s new landmark.
“We see TRX’s potential to further develop the city’s role as a financial capital. It also aids our growth and expansion plans.
“I am committed to personally seeing this project through, drawing from our vast experience,” he added.
Mulia Group now joins the list of investors such as Lend Lease International, a global property and infrastructure group developing the RM8 billion Lifestyle Quarter and Veolia Water Technologies, whose water management technology will halve potable water use in TRX, said the statement.
The statement also said a mass rapid transit (MRT) service would connect TRX to the upcoming High Speed Rail terminus station at Bandar Malaysia and linking it to Singapore’s financial centre.
TRX will also have direct link to key roads and major highways such as SMART, MEX, Jalan Tun Razak and Jalan Sultan Ismail, it added. — Bernama