KUALA LUMPUR — May 13, 2015: The Tun Razak Exchange (TRX) has signed on Indonesia’s leading property developer, the Mulia Group, to develop its Signature Tower.
1MDB Real Estate Sdn. Bhd. (1MDB RE), the master developer of the TRX, signed the sale and purchase agreement with Mulia for the development rights to the plot.
The land transaction is valued at RM665 million.
In a statement, 1MDB RE chief executive officer Datuk Azmar Talib said it was 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.
These include 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 developing 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 said.
With this move Mulia Group joins a list of investors such as Lend Lease International, a global property and infrastructure group developing the lifestyle quarter and Veolia water technologies, whose water management technology will halve potable water use in TRX.
The statement also that said a mass rapid transit service would connect TRX to the planned high speed rail terminus station at Bandar Malaysia.
TRX also has a direct link to key roads and major highways such as SMART, MEX, Jalan Tun Razak and Jalan Sultan Ismail. — Bernama