7 NOV: Some opposition people still says 1MDB’s The Tun Razak Exchange (TRX) is a failed project and a hole in the ground.
Progress for the signature tower is rapid and now towers over all, called the Exchange 106. it’s 106-floors and is 40 meters higher than KLCC.
The Prudential HQ nearby also seems to be progressing quickly as well as the lifestyle center nearby which is being developed by a 60-40 JV between Australia’s Lend Lease and 1MDB.
The spanking new MRT station at TRX is also open there.
TRX did not even charge MRT for the land to build the station but has come to an arrangement where TRX can build on top of the station while MRT gets the development rights below ground for free.
Various other big names MNCs have now announced they have bought plots to build their ASEAN HQ at there
I understand that there are also several banks that are close to signing or signed but has not been announced.
Yesterday, HSBC announced that it has appointed local company IJM Bhd to build it’s regional HQ there scheduled for delivery in December 2020. HSBC said they are investing RM1 billion.
Looks like Najib’s vision for TRX to be the financial hub for Malaysia and the region is beginning to take shape.
Already thousands of jobs have been created and billions of investments are brought in.
When the center is completed, tens of thousands of people will be provided and billions of economic activity will be created every year.
Meanwhile, the RM32b ‘lesap’ in Mahathir’s BNM scandal has benefited no one and has built nothing.