LENDLEASE TO UNVEIL THE EXCHANGE TRX'S RETAIL, ENTERTAINMENT COMPONENT IN 4Q2023
KUALA LUMPUR (Dec 8): Australian real estate group Lendlease announced during a media briefing on Thursday (Dec 8) that the experiential retail and entertainment component of the 17-acre The Exchange TRX will be unveiled in 4Q2023. The Exchange TRX is part of the 70-acre Tun Razak Exchange (TRX) development in Jalan Tun Razak, Kuala Lumpur.
The retail and entertainment component will have a net lettable area of 1.3 million sq ft, with more than 400 stores over four levels of retail, with Golden Screen Cinemas (GSC), Japanese department store Seibu and an upscale supermarket by Dairy Farm Group of Hong Kong as anchor tenants.
Seibu will be bringing in Malaysia’s first Japanese “depachika” food hall, which will take up 250,000 sq ft across four levels.
In a press release, Lendlease Malaysia head of retail and The Exchange TRX project director Mitch Wilson said: “As a global organisation, we will showcase our international placemaking expertise alongside our 43-year history in Malaysia to introduce our signature approach to experiential retail. With our global platform, we have the trust of retailers from all over the world.
“We are grateful for their support in getting our occupancy levels to well ahead of market ratios, given we are under a year before opening. We believe the diverse retail mix complemented by dynamic leisure and entertainment activations will serve as a key point of differentiation and will drive visitors to linger longer and make repeated visits.”
Wilson added that dining will be a highlight at The Exchange TRX, which will offer five dining precincts, namely Food Exchange, Concourse Dining, Park Dining, Premium Dining and Dining Terrace. Each precinct will have over 100 dining outlets.
While Wilson cannot share the exact occupancy rate of the shopping mall, he said the company “is on the path of full occupancy rate”.
Wilson also shared that luxury tenancies are fully leased with LVMH group opening 17 brands such as Louis Vuitton, Dior, Tiffany & Co; and the Kering group with six brands including Gucci and Saint Laurent.
“We are excited to announce our partnership with Chanel opening their brand new full-line store. Other new-to-market brands include luxury eyewear Gentle Monster, [and] Bacha Coffee, who will feature their first café concept in Malaysia, while the Tipsy group from Singapore will be opening a dining and entertainment-focused outlet. On the sports and leisure front, Puma, Nike, Skechers and Adidas will all be debuting activated lifestyle experience stores at The Exchange TRX,” he said.
The Exchange TRX is set to be the working and living space for a community of 45,000 people when completed. “This, together with the masterplan’s high-quality infrastructure and unparalleled connectivity, demonstrates the precinct’s enormous commercial potential. When we open our doors to the public in 4Q2023, this iconic social and lifestyle destination will appeal to not only an increasingly thriving on-site population but to all Malaysians, as well as international visitors,” said Wilson.
The Exchange TRX will also comprise six residential towers, a hotel and office with a 10-acre rooftop public-activated park called TRX City Park as its centrepiece.
Designed by Lendlease, in partnership with landscape architects Oculus & Pentago, TRX City Park aims to house a unique and biodiverse ecosystem of over 150,000 plantings from close to 150 native plant species. The park will also offer children’s play areas, water features and shaded enclaves, and can be used for alfresco dining, community events, sports and leisure activities.