2 days ago
- Business
- New Straits Times
TRX City breaks ground on 39-storey tower, PwC named anchor tenant
KUALA LUMPUR: TRX City Sdn Bhd has commenced construction on a new 39-storey office tower at Tun Razak Exchange (TRX), further cementing its status as Malaysia's International Financial Centre.
Targeted for completion in 2029, the tower will meet global standards with features such as flexible floorplates, multi-tiered security, direct MRT connectivity, and WELL Core and Shell certification—emphasising occupant health and wellbeing.
At the groundbreaking ceremony, TRX City CEO Datuk Azmar Talib announced that PricewaterhouseCoopers Malaysia Holdings Sdn Bhd (PwC) will serve as the anchor tenant. The firm will move its headquarters from KL Sentral to the new tower, taking up at least 200,000 sq ft of net lettable area.
"The firm's decision to move its headquarters here is a strong endorsement of TRX as the preferred premium international business address," Azmar added.
Following a binding head of terms signed in November 2024, TRX City and PwC aim to finalise the definitive agreement to build and lease by the end of the second quarter of 2025.
TRX has delivered over 9 million sq ft of gross floor area covering office, retail, hotel and residential components.
"Today, we are proud to report that retail is nearing full occupancy, residential projects are more than 95 per cent sold, and office buildings currently in operation have reached close to 80 per cent occupancy based on NLA.
"In just over a year, more global companies are choosing TRX. This includes Ant International, Bin Zayed International (M) Bhd, and MUFG Investor Services. Signalling strong trust in Kuala Lumpur's potential as a business and financial hub," Azmar added.
To fund the new development, TRX City is in the midst of securing up to RM660 million in financing, with Affin Bank Bhd pledging RM250 million.
