TRX invites investors to become partners

KUALA LUMPUR: 1MDB Real Estate Sdn Bhd (1MDB RE) has invited qualified investors to submit proposals for Stage 1 of The Tun Razak Exchange (TRX).

In a statement today, 1MDB RE said for Stage 1, components included four office towers, including a signature tower, up to five residential towers, up to two five-star hotels and a retail mall.

"1MDB RE looks forward to both joint-venture partnership opportunities and outright plot sales," it said.

For the majority of the TRX development, 1MDB RE said it would continue to hold equity interests through joint ventures.

"The land sales, meanwhile, will be considered on a case-by-case basis and will be subject to the masterplan," it said. 

Chief Executive Officer of 1MDB RE, Datuk Azmar Talib, said the company was looking forward to work with world-class investors and institutions.

Spread over 28 hectares of prime freehold land minutes from the Petronas Twin Towers, TRX is a key step towards the goals of the government's Economic Transformation Programme to turn Malaysia into a high-income economy by 2020.