KUALA LUMPUR – “Who says this (Tun Razak Exchange -TRX) project will not take off?”
That was the quick and short response from Prime Minister Datuk Seri Najib Tun Razak after a visit to the TRX Gallery today.
Some quarters, especially opposition politicians, had raised concern and doubt over the government’s ability to complete the project that will develop Kuala Lumpur into an upcoming international financial district.
Najib arrived at the TRX Gallery, located at Jalan Utara here, at 4.15 pm and was welcomed by Works Minister Datuk Seri Fadillah Yusof and Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah.
The Prime Minister received progress updates on the development of the project from TRX City Sdn Bhd Chief Executive Officer Datuk Azmar Talib.
Najib, who is also Finance Minister, was taken on a walkabout at the TRX Gallery, including the TRX model and TRX office, and was seen nodding his head and smiling several times as he was briefed throughout the tour.
He stopped at the viewing deck to have a look at the entire project and the map before signing a plaque in front of a tree, aptly named ‘Merdeka’ as it is believed to be among the trees that existed since independence in 1957.
The Prime Minister left the site at 5 pm.
This is the third time that Najib has visited the TRX site after he launched the project in July 2012. He visited the TRX Gate One located at Jalan Tun Razak two years ago.
According to a media release, TRX 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 and supporting ancillary businesses.
Around 70 per cent of the plots available in the TRX have been commercialised and TRX City continues to receive significant interest from various local and international investors and tenants, including several of the world’s major banks and financial institutions.
TRX will feature, among others, an integrated MRT interchange station that is supported by direct links to major roads such as Jalan Tun Razak, MEX Highway and the SMART Tunnel.
TRX City Sdn Bhd, formerly known as 1MDB Real Estate Sdn Bhd, is the master developer of the project. It is now an entity on its own. TRX, with a development period of 15 years, will be completed in phases with phase one slated for completion in 2018-2019.
TRX’s estimated gross development value is RM40 billion, and will encompass investment Grade A office space underpinned by world-class residential, hospitality, retail, leisure and cultural offerings. – BERNAMA