The Exchange TRX 🇲🇾❤️

#kualalumpur Exchange 106 (formerly TRX Signature Tower) is a skyscraper created within the Tun Razak Exchange (TRX), a new financial district currently being developed in Kuala Lumpur. The 106-story building will be lighted with a 48-meter-high crown and 12-storey crown at its peak to a maximum height of 492 meters. When completed in the second quarter of 2018, it will be about 40 meters taller than the country’s currently tallest building, the Petronas Towers. The Exchange 106 tower consists of a net leasable area of 2.8 million square feet, of which 300,000 square feet of retail space occupying the first five floors of the building. As of January 2018, large tenants, mostly local financial institutions, have taken up more than half of Exchange 106’s floor space, each taking between 2 and 8 floors, which have columnless floor panels ranging from 28,000 to 34,000 square feet. Since the 106 is measured against similar buildings in large international financial centers, such as the Canary Wharf and Shard in London, the Freedom Tower in New York, and the International Finance Corporation in Shanghai, despite the exchange’s 106 rental rise of RM17 per square foot, up to 47% of the 2.8 million square feet of Exchange 106 have been officially signed, and 9% are under negotiation as of January 2018, while construction is still under way. The tower was first conceived when the TRX was controlled by 1Malaysia Development Berhad (1MDB), a fund owned by the Malaysian government. On May 13, 2015, 1MDB Real Estate Sdn Bhd (1MDB RE), the lead developer of TRX, and Mulia Group, announced that they had signed, through Mulia Property Development Sdn Bhd, an agreement for the sale and purchase of the development rights of the Exchange 106 plot (then known as the Signature Tower), with a land transaction worth RM665 million. Groundwork on the Exchange 106 plot began on March 1, 2016, with the concrete foundation laid in May 2016 (see the “Progress” section below). #The Exchange TRX