KUALA LUMPUR, June 5 — Prime Minister Datuk Seri Najib Razak is hopeful that more foreign financial institutions will make the Tun Razak Exchange (TRX) their hub, even as the iconic development is set to become a leading centre for international finance and business.

“As you know, China Construction Bank has already pledged to make TRX its financial centre and is negotiating to build a signature tower within it. I hope other institutions will follow suit.

“A 28.33 hectare development with an estimated gross development value of RM40 billion, the TRX will be a very attractive development and enhance the lifestyle value of the place,” he added.

He told reporters this after visiting the site of the TRX, located in the heart of Kuala Lumpur, and received progress updates on the development.

Najib was accompanied by senior government officials and Finance Ministry officials, including Tan Sri Dr Mohd Irwan Serigar Abdullah, the Secretary General, as well as guests from the financial services sector.

Around 70 per cent of plots available at the TRX have been commercialised and it continues to receive significant interest from local and international investors and tenants, including several of the world’s major banks and financial institutions, Najib said.

To date, the TRX has signed 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 and the Lembaga Tabung Haji for a residential plot.

A global leader in water management, Veolia Water Technologies South East Asia, is also on board as the water treatment and recycling concessionaire.

As the most seamlessly connected district in the city, TRX will feature an integrated MRT interchange station. It is further supported by direct links to major roads such as Jalan Tun Razak, the MEX Highway and the SMART Tunnel, said Najib who is also the Finance Minister.

This, will strengthen Kuala Lumpur’s position as a leading centre for international finance and business, by creating a seamless and central business environment for financial services firms, multinational companies (MNCs) and support ancillary businesses.

“I also hope there will be a six-star hotel and other forms of cultural attractions and entertainment as well.

“It is not going to be just a commercial venture, but a one of a kind centre that enables you to enjoy the sort of lifestyle to commensurate with the global standard development,” he said, adding, he was satisfied with the pace of the TRX development.

Meanwhile, in his speech, Mohd Irwan said he hoped for more investors to come to Malaysia following the successful development of the TRX to date.

“There are a lot more investors wooing us and at present, there are a lots still available for them to construct their buildings,” he added.

The entire TRX project is expected to be completed in phases over the next 15-20 years and will open for business from 2018/2019. —Bernama