Tall & Urban News

IJM Corporation Bhd has obtained a RM530 million (US$121 million) contract to develop a residential component at the Tun Razak Exchange (TRX) international financial district.

IJM said its wholly-owned IJM Construction Sdn Bhd had received the letter of acceptance from LQ Residential 1 Sdn Bhd for the superstructure works of two blocks of serviced apartments within the Tun Razak Exchange Complex.

LQ Residential is a joint venture between international property and infrastructure group, Lendlease and TRX City Sdn Bhd.

The project comprises two towers of 53 and 57 stories with a total of 443 units and 453 units respectively.

The towers will include residential facilities, a seven-story podium and elevated car parking, a mezzanine floor, one level of commercial space at the ground floor and two levels of basement car parking.

The construction work will take 36 months from its scheduled commencement and is slated for completion by May 2023.

IJM Corporation group chief executive officer and managing director Liew Hau Seng said TRX Residences is the fourth addition to its portfolio of iconic projects in TRX and was an acknowledgment of the company’s extensive experience in high-rise building construction.

IJM is undertaking two construction projects in TRX namely HSBC Malaysia and Affin Bank’s new headquarters, with the latter scheduled for completion in 2021.

Menara Prudential, which IJM developed, constructed and owns, was completed in May 2019 and is 81 percent leased.

Liew said the projects in TRX, along with IJM’s ongoing building footprint in the city which includes the UOB office tower in Jalan Raja Laut and BBCC’s Mitsui Shopping Park Lalaport retail mall, were testaments to IJM’s record as a builder of high-rise developments in the city center.

For more on this story, go to the New Straits Times.