Tun Razak Exchange, Malaysia's first financial district, taking shape

Its new mall draws crowds to area that govt hopes will be country’s answer to Wall Street

- Hazlin Hassan

Malaysia's newest mall, The Exchange TRX, has been drawing enthusiastic crowds since its opening four weeks ago, with its offering of a rooftop park with 150,000 plants, as well as 400 shops and eateries.

The opening of one of the country's biggest malls in the capital city on Nov 29, with 100 per cent occupancy, has helped to spotlight the rise of Tun Razak Exchange, or TRX a 28ha district the Malaysian government hopes will be its answer to Wall Street.

The government, as the project's main backer, has estimated gross development value at RM40 billion (S$11.5 billion) involving 26 towers including offices and residential units, with a working population of up to 50,000 people.

Financial institutions, stock brokerages and international business consultants are currently located all over Kuala Lumpur, but TRX the country's first dedicated international financial district - has drawn some of these institutions to relocate to within the site, which is near the Petronas Twin Towers.

"The buzz surrounding TRX is substantial, and it's not just about its state-of-the-art infrastructure," said Mr Goodwin Jeffrey Looi, sales and marketing director of Core Precious Development, a project developer in TRX.

Being housed in the district would mean being surrounded by top-tier financial institutions and industry leaders, he told The Straits Times.

Several financial institutions have already moved in, including into its centrepiece, the Exchange 106 skyscraper, which is Malaysia's second-tallest at 453m high.

The master plan includes a total of 26 buildings, including the mall, office towers, luxury condominiums and a hotel.