YB TUAN HAJI KHALID ABDUL SAMAD OFFICIATES THE SIGNING AGREEMENT BETWEEN TRX CITY AND DBKL AND PLOT OWNERS ON A COMMON ESTATE AGREEMENT TO STRENGTHEN KL’S POSITION AS A LEADING CENTER FOR INTERNATIONAL FINANCE AND BUSINESS

Published by Lavinesh @ 04/03/2019

(L-R): Mr Lee Chun Fai (Director, Fairview Valley Sdn Bhd – subsidiary company of IJM), Mr Cyril Duffy (Chief Operating Officer HSBC Bank Malaysia Bhd), Dato Lai Weng Hoo (Chief Executive Director, Mulia Group), Mr Tan Hwa Min (Chief Operating Officer, TRX City Sdn Bhd), Dato Azmar Talib (Chief Executive Office, TRX City Sdn Bhd), YB Tuan Haji Khalid Bin Abdul Samad (Minister of Federal Territories), Mr Stuart Mendel (Managing Director and Country Head, Lendlease Malaysia), Datuk Nor Hisham Ahmad Dahlan (Kuala Lumpur City Mayor), Mr Kamarul Ariffin bin Mohd Jamil (Group Chief Executive Office, Affin Bank), Mr Imri Dolhadi Ab Wahab (Director, Urusharta Jamaah Sdn Bhd) and Mr Frank Feng (Managing Director, CORE Precious Development Sdn Bhd).

TRX City Sdn Bhd (TRXC), Lendlease, Mulia Property Development, HSBC, CORE Precious Development Sdn Bhd (a joint venture between CCC Group Overseas Real Estate Pte Ltd and WCT Holdings Bhd), Affin Bank Bhd, IJM Corp Bhd and Urusharta Jemaah Sdn Bhd marked the signing of the Common Estate Agreement (CEA) governing the Tun Razak Exchange (TRX) financial district. The CEA involves TRXC, as the master developer of TRX, and all plot owners in the 70-acre development in ensuring the long-term asset maintenance, management and services provided for TRX’s infrastructure, public realms, and other common facilities.

YB Tuan Haji Khalid Abdul Samad, Federal Territories’ Minister, who was the Guest of Honor at the ceremony said, “The CEA marks a new era of common ownership and public-private partnership, a milestone that formalize the collaboration between the master developer, DBKL and plot owners.”

“Federal Territories Ministry and DBKL are committed towards making KL a better city for all, but we need developers and building owners to play their role as well. This is a good first step towards reaching that consensus. We hope the arrangement such as TRX’s Common Estate Agreement will form a template that can be followed by others delivering good ROI for the country.”

Dato’ Azmar Talib, Chief Executive Officer of TRX City Sdn Bhd said, “Plot owners will have a say in determining the type, level, quality and cost of service that can make TRX an international investment destination, a future-focused live-work-play address.”

The signing of Common Estate Agreement (CEA) between TRX City Sdn Bhd and its partners and investors.

The agreement will help uphold the highest quality throughout TRX and will cover areas such as long-term asset management and maintenance, facilities services, leisure provisions, sustainability and environmental requirements, safety and emergency measures, traffic and parking management and branding and marketing standards.

With Menara Prudential and Exchange 106 already at the final stages of completion, TRXC is expecting the first tenants of the financial district to move in by mid-2019.

As Kuala Lumpur’s new central business district (CBD), TRX will strengthen the city’s position as a leading center for international finance and business. The financial district’s masterplan combines sustainability, attractive public realms and great connectivity to create a world-class international urban ecosystem at the heart of Kuala Lumpur. TRX has been awarded with Malaysia’s first ever provisional neighborhood-level GBI Township Platinum certification.

TRX features an integrated MRT interchange station that hosts Sungai Buloh-Kajang line and the Sungai Buloh-Serdang-Putrajaya line. This is further supported by direct links to major thoroughfares such as Jalan Tun Razak, the MEX highway, SMART Tunnel and upcoming DUKE 3 (Setiawangsa-Pantai Expressway). Pedestrian connectivity to the district via the North West Plaza, along with the Public and private transport linkages, ensures TRX’s role as the future CBD of Kuala Lumpur, and its most accessible district.

(L-R): Mr Lee Chun Fai (Director, Fairview Valley Sdn Bhd – subsidiary company of IJM), Mr Cyril Duffy (Chief Operating Officer HSBC Bank Malaysia Bhd), Dato Lai Weng Hoo (Chief Executive Director, Mulia Group), Mr Tan Hwa Min (Chief Operating Officer, TRX City Sdn Bhd), Mr Stuart Mendel (Managing Director and Country Head, Lendlease Malaysia), Mr Imri Dolhadi Ab Wahab (Director, Urusharta Jamaah Sdn Bhd), Mr Kamarul Ariffin bin Mohd Jamil (Group Chief Executive Office, Affin Bank) and Mr Frank Feng (Managing Director, CORE Precious Development Sdn Bhd).