TRX is an integrated 70-acre development that will be KL’s new CBD and Malaysia’s International Financial District
The Exchange 106 tower, center left, stands at the under construction Tun Razak Exchange (TRX) financial district in an aerial photograph taken above Kuala Lumpur, Malaysia, Wednesday, Oct. 23, 2019. Southeast Asia’s tallest skyscraper was once shadowed by the??1MDB??scandal that has upended the nation’s politics and implicated global banks in criminal cases. It now seeks to shed that past by plying prospective tenants with marble walls and mirrored ceilings. Photographer: Joshua Paul/Bloomberg
Excellent connectivity, iconic public realms and smart and sustainable design come together to create Malaysia’s first international financial district at Tun Razak Exchange (TRX).
Designed as KL’s best-connected address, TRX’s 70-acre masterplan includes a dedicated MRT interchange station and direct accesses to Jalan Tun Razak, MEX and SMART Highways, as well as the upcoming DUKE 3.
Designed as a porous development, TRX will also catalyse the rejuvenation of the surrounding Imbi and Pudu neighbourhoods.
A pedestrian boulevard will connect TRX with the Bukit Bintang shopping belt, creating a seamless lifestyle destination that is vibrant, lively and inclusive. At the heart of TRX is The Exchange Mall, and located on the mall’s rooftop is the TRX Central Park, a 10-acre public green nexus.
TRX’s office spaces are designed to be smart and sustainable, to fulfil the requirements of the world’s best businesses. Anchoring the development is the Exchange 106, South East Asia’s tallest tower, standing at 492 meters.
A future-ready development developed with sustainability at its core, TRX is the first development in Malaysia to have received a neighbourhood-level provisional Green Buildings Index (GBI) certification.
TRX has a line up of attractive incentives for potential investors.
TRX Marquee Incentives
Incentives are offered to qualifying TRX marquee status companies licensed to operate in the following financial services sub-sectors:
- Retail and/or merchant banking
- Insurance
- Islamic banking
- Takaful operators
- Capital markets services
The incentives offered will include:
- Industrial building allowances on the purchase or construction of property in TRX for use in their business (of providing financial services) at 10% per annum.
- Accelerated capital allowances (100% over 2 years for prescribed renovation costs).
- Deduction for prescribed relocation costs.
- Additional 50% tax deduction on rental expenses of TRX premises for 10 years.
- Stamp duty remission for first TRX rental/purchase agreement.
- Stamp duty remission for first TRX property loan agreement.
- Stamp duty remission on all services agreements entered into for a given period of time.
Qualifying companies must commence to undertake whole part of its business in the Tun Razak Exchange before 31 December 2020.
TRX Developer Incentives
The TRX developer incentives will only be given to developers who meet the stringent development criteria that will include a strong green ethos and sustainability. The tax incentive will include 70% tax exemption on income from the sale or rental of properties in TRX for a period of 5 assessment years.
The time frames for these incentives are restricted as follows:
- For the disposal of a building, the exemption will be given for a maximum of 5 years up to the year of assessment 2022;
- For the rental of a building, the exemption will be given for a maximum of 5 years up to the year of assessment 2027.
TRX City Sdn Bhd is wholly owned by the Malaysian Ministry of Finance and serves as a strategic development company. It is the master developer of Tun Razak Exchange (TRX).
TRX City ensures the development of the financial district to follow the future-ready masterplan, which combines world-class infrastructure, excellent connectivity, sustainable design and attractive urban ecosystem.
TRX City is also the owner of Bandar Malaysia Sdn Bhd, a 486-acre urban development in the heart of Kuala Lumpur.