KUALA LUMPUR: Lendlease, a joint-venture partner of the 6.88ha TRX Lifestyle Quarter development, aims for the centre to be fully occupied in 2020, says managing director and country head (Malaysia) Stuart Mendel.
He said the development comprised residential, entertainment, leisure, public park, hotel and retail, of which, the retail segment was currently 26% leased by its anchor tenants.
“Among anchor tenants include a departmental store operator of Japanese origin. We are working with them to bring a new concept of departmental store to Kuala Lumpur. We are also working with a dairy farm group to set up a supermarket there and with Golden Screen Cinemas for the entertainment portion.
“This will offer a unique experience because the cinema is located adjacent to the park, which enables us to have a red carpet experience for movie premiers or screenings,” he told Bernama.
Mendel said Lendlease would continue to work with secured tenants so that they would also continue to be committed to the project and jointly help them design their space to fit into the overall concept.
The tenants would be a mixture of local and international brands but the vast majority of the actual ownership of the tenants would be locals.
The TRX Lifestyle Quarter, a development that Lendlease dubbed its largest urban regeneration project, has the potential to become the natural extension to the Kuala Lumpur City Centre area as it is well-connected to public transport, accessible by road and is pedestrian-friendly.
“The design of the development is quite advanced. We want it to be sustainable in the long-term because we are not just building a shopping centre.
“The idea is for it to become a major public place where the community can come and play,” he added.
Meanwhile, Lendlease CEO (Asia) Tony Lombardo said the development was one of the company’s best urban regeneration project, given its location.
He believed the TRX Lifestyle Quarter could make a huge impact on Malaysia’s retail tourism sector.
“We picked this project because Malaysia is one of our core markets and we believe Kuala Lumpur is the key gateway city, globally.
“With its young and growing population, we definitely see a steady requirement for property over time,” he added.
Source: The Sun Daily