The Tun Razak Exchange (TRX) which once called is as the Kuala Lumpur International Financial District (KLIFD) is a mega project worth more than RM 3.5 billion that has set to become the new regional financial hub in the capital of Malaysia that is owned by 1MDB ( 1 Malaysia Development Berhad). The buildings and infrastructures of TRX comprising sustainable buildings, a large green spaces, and large tranquil parks couple with rooftop gardens lead by Machado and Silvetti Associates with collaboration of Arkitek Jururancang Malaysia would be developed on 28 hectare (70 acres) of Pudu area, near the Bukit Bintang shopping district and the bustling Golden Triangle. In addition, the project would raise an estimated Gross Development Value (GDV) up to RM 40 billion once the project is finished.
In returns, the project of TRX would attract and allocated at least a hundred of top global companies from various industries together with half a million of new jobs opportunities directly and indirectly when the first phase project is completed said Malaysian Prime Minister, Dato’ Seri Najib Bin Tun Abdul Razak. Furthermore, the tenants of TRX would also include financial services firms and supporting ancillary businesses alongside commercial, residential, cultural and leisure components.
Apart from that, the buildings and infrastructures of TRX would also consisted Signature Tower surrounded by an urban park with plenty of green spaces and courtyard for pedestrian movement and recreational activities. For the convenient of the pedestrians, TRX add an underground mass rapid transit station, among other public transportation which easily accessible throughout Jalan Tun Razak, SMART Tunnel, Maju Expressway (MEX), MRR2 and other key roads and major highways of Kuala Lumpur.
Despite many controversies coming from the media, the first phase of TRX construction has begun which will encompass progressive planning tenets and top global design with high levels of sustainability that would be completed in 2017 while the rest of TRX developments would be commenced during a period of 15 years. Moreover, the project of TRX which wholly supported by the government under the Economic Transformation Programme is overseen by a special task force led by minister that would help supervise the project of TRX till its completed that is expecting to gain high-income by 2020.
Nowadays, Kuala Lumpur is fills with over six millions population and is recognized for its Islamic finance as well as one of the largest Islamic bond markets in the world. Thus, the development of TRX would further enhance its position as an Islamic finance global hub that brings both the conventional and Islamic finance closer. In conclusion, TRX may not have the popularity in competing with Singapore in providing one of the regional financial centres but it could claim it position as an Islamic financial centre for now.