SkyscraperCity Forum banner

KUALA LUMPUR | The Exchange 106 | 454m | 1488ft | 95 fl | Com

882K views 2K replies 208 participants last post by  gohdubai 
#1 · (Edited)


Platinum Tower @ Tun Razak Exchange (Kuala Lumpur Financial District)
80 storey, 380m
Architect - SOM & Veritas

Latest:






____________________________________________________
Original Post:

Originally posted by rizalhakim @ Malaysian Skyscraper Forum:
Platinum Tower @ TRX :banana::banana:


Previous design:

Architects:
Machado Silvetti and Associates (USA)
Akitek Jururancang Sdn Bhd (Malaysia)


http://www.grant-associates.uk.com/projects/77-international/4827-tun-razak-exchange.aspx
 
See less See more
6
#138 ·
Start now..

1MBD Real Estate, Lend Lease ink TRX lifestyle quarter deal
Thursday, 19 March 2015


Prime Minister Mohd Najib Tun Abdul Razak witnessing the signing ceremony

KUALA LUMPUR: Tun Razak Exchange (TRX) master developer 1MDB Real Estate (1MDB RE) and Lend Lease sealed their partnership on Thursday to develop the Lifestyle Quarter which will have a GDV of RM8bil.

1MDB RE, a unit of 1 Malaysia Development, said it would own 40% of the project while the remaining 60% will be owned by Lend Lease.

“Supporting TRX's vision of becoming a global hub for international finance and business, the Lifestyle Quarter will be a retail-led mixed-use development of over 17 acres comprising a new retail mall, several residential towers and a hotel connected to a multi-layer central park and the largest MRT station in Kuala Lumpur,” it said.

The signing of the JV agreements and a sale and purchase agreement was in the presence of Prime Minister Datuk Seri Mohd Najib Tun Abdul Razak. The master framework agreement was signed last October.

CEO 1MDB Real Estate Datuk Azmar Talib said TRX has successfully played a catalyst role to attract a significant FDI commitment in Malaysia's premier financial district.

“We will announce more commitments from top tier local and international investors in the coming months.

"With this Lifestyle Quarter partnership sealed, 1MDB RE will focus on delivering major infrastructure upgrades for TRX and the Imbi area with a view to accelerate the development of TRX to meet strong and tangible demand,” he said.

CEO for Lend Lease in Asia, Rod Leaver, said: "We are pleased to complete the negotiations and continue the journey to transform TRX into an iconic destination. With our global track record in large scale urban regeneration in partnership with national and city governments, coupled with our over 35 year history in Malaysia, we are confident of making the TRX Lifestyle Quarter an outstanding success with our partner."

The Lifestyle Quarter will form the social heart of the TRX precinct. It plans to offer a series of modern lifestyle experiences and set new benchmarks not only in terms of design, but for the types of retailers, dining establishments, outdoor spaces, leisure activities and entertainment options it provides.
http://www.thestar.com.my/Business/...ase-ink-TRX-lifestyle-quarter-deal/?style=biz
 
#139 ·
UPDATE:
TRX lures strong foreign, domestic interest
24 MARCH 2015 @ 11:32 AM

KUALA LUMPUR: Upcoming international financial district, the Tun Razak Exchange (TRX), is receiving strong foreign and domestic investors’ interest, says 1MDB Read Estate Chief Executive Officer Datuk Azmar Talib said.

“We have not seen any kind of withdrawal in negotiations or discussions,” he said when asked if the issues surroundings 1Malaysia Development Bhd (1MDB) was a deterrent for investors investing in TRX.

1MDB Real Estate is a unit of 1MDB.

In fact, there has been more interest shown by foreign investors after 1MDB Real Estate sealed a partnership with Lend Lease, a strong and reputable international partner for the development of the lifestyle quarters, he said.

Australian headquartered Lend Lease is an international property group offering fully integrated services including investment management, development, construction and project management.

It has worked on notable projects in Malaysia including the iconic Petronas Twin Towers, Setia Mall City and most recently, the Pinewood Iskandar Malaysia Studios.

The estimated total gross development value for TRX’s lifestyle quarter is RM8 billion.

“There has been more excitement and people are knocking on our doors. We have been negotiating with both foreign and local parties and we will be making some major announcements soon,” he told Bernama.

Foreign investors interested to invest in TRX originate from seven countries, which is a strong signal of the project’s sustainability, said Azmar.

Chief Executive Officer for Lend Lease in Asia Rod Leaver said the firm is committed to the project.

“In some stage in the future, we might bring in larger investors to invest alongside with and 1MDB (Real Estate),” he said.

Elaborating on its approach, Azmar said the firm is mindful in selecting its partners as well as the development of TRX.

“We go through certain rigorous process in selecting our partners and we only develop based on demand,” he said, adding that 1MDB Real Estate has to be very prudent in developing TRX as it was a long-term project.

“The aim is to make sure TRX is able to do to Kuala Lumpur what KLCC did 20 years ago,” said Azmar.

– BERNAMA
http://www.nst.com.my/node/77792
 
#140 ·
MoF creates special task force to help 1MDB implement strategic review
27 MARCH 2015 @ 5:23 PM

KUALA LUMPUR: The Ministry of Finance, in its capacity as the 100 per cent shareholder of 1Malaysia Development Bhd (1MDB), has created a special task force to help ensure the successful implementation of the company’s strategic review.

The task force will comprise the Second Finance Minister Datuk Seri Ahmad Husni; Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar; Chief Secretary to the Government Tan Sri Dr Ali Hamsa; and Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah.

In a statement today, the ministry said it fully supported the management and board of 1MDB in the implementation of its previously announced strategic review.

The task force will provide all required assistance and guidance to ensure maximum value is generated for the ministry. -- BERNAMA
http://www.nst.com.my/node/78437

1MDB loans with local banks totalled RM5.037 billion: PM
BY ILI LIYANA - 26 MARCH 2015 @ 2:28 PM

KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) loans with local banks amounted to RM5.037 billion as at January this year.

Prime Minister Datuk Seri Najib Razak said this in a written reply in Parliament today.

Najib, who is also the Finance Minister, was responding to a question by Rafizi Ramli (PKR-Pandan) who wanted to know the total amount of loans IMDB has with local banks.
http://www.nst.com.my/node/78229

 
#142 · (Edited)
Published: Saturday May 30, 2015 MYT 12:00:00 AM
Updated: Saturday May 30, 2015 MYT 8:57:23 AM
1MDB to scale down ops


PETALING JAYA: 1Malaysia Development Bhd that has come under relentless attack for its financial transactions will be wound down by early next year.

According to sources, a programme is being crafted whereby Abu Dhabi will inject sovereign funds of up to US$4.5bil (RM16.4bil) into 1MDB – money that would be used to reduce its debts of RM42bil.

“The first tranche of the money will come in next week. The announcement is already out. The remaining amounts will come in batches and by early next year 1MDB will be wound down,” said a source.

The reduction of its debts will allow 1MDB to “downsize” its operations significantly and transfer the remaining liabilities to its three subsidiary companies, which are into property development and generation of electricity.

“The subsidiaries have assets and can hold some amount of debt. The holding company does not have adequate assets and that is why it faces cash-flow problems to service its debt obligations,” said sources.

The power generation company, which is Edra Global Energy, has three major power plants worth some RM13bil.

The property subsidiaries are broken into two – one holding the Tun Razak Exchange Development and the other the 200.3ha Sungai Besi airport land that is to be developed into Bandar Malaysia.

“The value of the land in TRX and Bandar Malaysia is estimated to be RM4.3bil,” said a source.

Yesterday, 1MDB announced that it had entered into an agreement with International Petroleum Investment Company (IPIC) and Aabar Investments whereby the Abu Dhabi companies would inject US$1bil (RM3.6bil) into the Malaysian fund.

By early next year, it is estimated that an additional sum of US$3.5bil (RM12.6bil) would be pumped in as part of the agreement.

In return, the Abu Dhabi companies would take over some of the assets held by 1MDB, including the “units” held in Singapore’s BSI Bank.

1MDB, established in 2009, is the brainchild of Prime Minister Datuk Seri Najib Tun Razak. It was supposed to spearhead Malaysia into projects that bring high impact to the economy.

However, it has come under scrutiny for its opaque financial transactions with companies based in the Middle East.

Among them is Petro Saudi International (PSI), which was the first joint venture partner that 1MDB locked up with in 2009.

The joint venture with PSI started with an initial sum of US$1bil. But the investment later ballooned to US$2.32bil (RM8.5bil) that was parked with funds based in the Cayman Islands.

A portion of the funds came back last year, according to 1MDB. But an amount of US$1.1bil (RM4bil) that was supposed to find its way back to help 1MDB redeem its debts was placed with BSI Bank in Singapore. The Finance Ministry has said the sum was in the form of “units”.

Apart from the investment with PSI, the fund has also come under fire for the high cost incurred in raising US dollar debt papers.

It raised US$3.5bil (RM12.7bil) in 2012 and another US$3bil (RM10.9bil) on March 19, 2013 – just a few weeks before the general election.

The funds were raised with a high degree of collateral and cost, something that is not usual for an entity such as 1MDB that is fully backed by the Government.

According to sources, the Cabinet was briefed that 1MDB has become a political hot potato to the extent that it is hurting Umno.

“The party comes above everything else for Najib. That is why he is deciding to wind down 1MDB,” said the source.
http://www.thestar.com.my/News/Nati...-of-liabilities-to-subsidiaries-on-the-cards/
 
#143 ·
Indonesia's Mulia Group to develop Signature Tower
13 MAY 2015 @ 9:40 AM

KUALA LUMPUR: Tun Razak Exchange (TRX), Kuala Lumpur’s upcoming international financial district, announced today that it has signed Indonesia’s leading property developer Mulia Group on board to develop its Signature Tower. This follows the signing of the Sale and Purchase agreement between 1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of TRX, and the Mulia Group for the development rights of the plot.

The land transaction is valued at RM665 million. 1MDB RE Chief Executive Officer Dato’ Azmar Talib said, “We are pleased to have the Mulia Group on board towards realising the potential of the Tun Razak Exchange. 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, including the Wisma Mulia 1 and 2. Wisma Mulia 1 and 2 are ranked amongst Jakarta’s tallest and most prestigious office buildings that together house key global and local blue-chip companies in Indonesia. The Mulia group has also developed and managed internationally renowned hotels, and residential and shopping mall properties. Eka Tjandranegara, President Director and owner of the Mulia Group said, “As one of the biggest commercial property developers in Indonesia, we are excited to be embarking on this project to develop the Signature Tower to become the new landmark of Kuala Lumpur city.
Read More : http://www.nst.com.my/node/84058
 
#145 ·
Construction start end of this year

http://www.thestar.com.my/Business/Business-News/2015/07/07/Lend-Lease-brushes-aside-concerns-over-its-JV-with-1MDB/?style=biz

KUALA LUMPUR: Australia-listed property developer Lend Lease, which in March formed a joint venture with 1Malaysia Development Bhd (1MDB) to develop a A$2.8bil (RM8bil) project at the Tun Razak Exchange (TRX), has dismissed concerns over the project’s future, according to a report.

The Australian Financial Review (AFR) reported a spokesperson as saying: “As with any agreement, we have undertaken due diligence and put in place appropriate protection for Lend Lease,”


The Lifestyle Quarter, spanning over 17 acres, will comprise a shopping centre integrated with TRX’s multi-layer central park, along with three residential towers and a hotel. Construction is scheduled to start in late 2015.
 
#152 ·
Earlier this year, a source at a prominent estate consultancy told The Malaysian Reserve that retail tenants in the the Lifestyle Quarter may include American upscale fashion retailer Nordstrom, Jamie Oliver, and Japanese retail giant Takashimaya.

Interested parties for the Lifestyle Quarter's hotel arm had also been narrowed down to a few luxury brands, including Chimera, Rosewood Hotels and Resorts, and Hilton-owned Waldorf Astoria.

The Lifestyle Quarter, valued at RM8 billion, will be designed by London firm Grimshaw Architects, an agency that has worked on New York's Fulton Center, the city's newest transit hub.

http://themalaysianreserve.com/new/story/despite-1mdb-issue-trx-makes-lot-sense
...
 
#153 ·
This project is now under preparation.

The office tower will be the focal point of this financial quarter, says Azmar. The total parcel will have a gross floor area of about 2 million sq ft.

Azmar says because of its size, the Signature Tower will be developed as a mixed integrated development with an imposing office tower of about 70 storeys, hence its name. It is estimated that it will have about 2,100 parking bays, four basements and three podium floors. Because of its sizeable land area, it will also have supporting ancillary facilities including retail and other business facilities.

Azmar says design work on the Signature Tower is currently at an advanced stage. Work on the site started in June.
http://www.thestar.com.my/Business/Business-News/2015/08/08/Lifestyle-quarter-to-front-TRX/?style=biz
 
#154 ·
The number of floors for the Platinium tower might be increased to 90 floors from the initial 80 floors.

Amendment to d.o. plan for Signature Tower:

CADANGAN PEMBANGUNAN SATU (1) BLOK PEJABAT 90 TINGKAT DAN TIGA (3) TINGKAT PEJABAT ANNEX YANG MENGANDUNGI:- - SATU (1) TINGKAT RETAIL/KOMERSIAL DI TINGKAT "LG" - LAPAN (8) TINGKAT TEMPAT LETAK KERETA DI TINGKAT BAWAH TANAH P6 HINGGA LG MEZZANINE DI ATAS PLOT 3 (C7.7) "TUN RAZAK EXCHANGE" SEBAHAGIAN LOT 1210, LOT 1207, SEKSYEN 62, LOT 20003 (LOT LAMA PT 116), SEKSYEN 67, DI JALAN TUN RAZAK/JALAN DAVIS, WILAYAH PERSEKUTUAN KUALA LUMPUR


TETUAN KLIFD SDN BHD

http://www.epbt.gov.my/osc/Proj1_Info.cfm?Name=604332&S=S
 
#157 ·
Works will be started soon..

WCT wins major contract in TRX
20 OCTOBER 2015 @ 11:00 AM
http://www.nst.com.my/news/2015/10/wct-wins-major-contract-trx

...

To date, TRX has signed agreements with global property and infrastructure group Lendlease to develop the Lifestyle Quarter; Indonesia’s leading property developer Mulia Group to develop the Signature Tower plot; Affin Bank Bhd for an office tower; Tabung Haji for a residential plot; and, Veolia Water Technologies Southeast Asia for the water treatment and recycling concessionaire.

TRX has also started construction on a commercial office tower for a financial institution anchor tenant.

Read More : http://www.nst.com.my/news/2015/10/wct-wins-major-contract-trx
 
Top