KUALA LUMPUR (Yosefardi) – Tun Razak Exchange (TRX), Kuala Lumpur’s upcoming international financial district, has on Wednesday (May 13) signed Indonesia’s leading property developer Mulia Group on board to develop its Signature Tower.
This follows the signing of the Sale and Purchase agreement between 1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of TRX, and the Mulia Group for the development rights of the plot. The land transaction is valued at RM665 million.
The Mulia Group, which has a leading market share for premium commercial properties in Jakarta, developed, owns and manages seven premier office buildings in Jakarta’s central business district, including the Wisma Mulia 1 and 2.
Wisma Mulia 1 and 2 are ranked amongst Jakarta’s tallest and most prestigious office buildings that together house key global and local blue-chip companies in Indonesia. The Mulia group has also developed and managed internationally renowned hotels, and residential and shopping mall properties.
The Mulia Group’s properties also include their award-winning Hotel Mulia Bali which essentially comprises of The Mulia, Mulia Resort & Villas in Nusa Dua, Bali. In the past two years, the resorts have been awarded six prestigious awards by Condé Nast, with the latest award placing Mulia Bali as the #1 Beach Resort in the World.
The landmark Signature Tower building will be a highly visible focal point for TRX, targeted to be the best international business address in Kuala Lumpur. As it will be TRX’s tallest building and have its largest floor plates, the tower is poised to be a Prime Grade A office space in Kuala Lumpur.
Mulia Group now joins the list of investors such as Lend Lease International, a global property and infrastructure group developing the RM8 billion Lifestyle Quarter; and Veolia Water Technologies, whose water management technology will halve potable water use in TRX.