The Exchange 106

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The Exchange 106
The Exchange 106 Topped Out.jpg
The Exchange 106, under construction as of July 2019.
Former namesMenara Platinum, Signature Tower
Alternative namesTun Razak Signature Tower, TRX 106 Tower, TRX Signature Tower
General information
StatusTopped-out
TypeOffice
LocationTun Razak Exchange, Kuala Lumpur, Malaysia
Coordinates3°08′31″N 101°43′07″E / 3.141867°N 101.718745°E / 3.141867; 101.718745Coordinates: 3°08′31″N 101°43′07″E / 3.141867°N 101.718745°E / 3.141867; 101.718745
Construction started2016
Completed2019
Height
Architectural454 m (1,490 ft)[1]
Tip454 m (1,490 ft)[2] [3][4][5][6][7][8]
Top floor405 m (1,329 ft)
Technical details
Floor count106[9]
Floor area453,835 m2 (4,885,000 sq ft)
Design and construction
ArchitectMulia Group Architects; Peter Chan (Architect of Record)
DeveloperMulia Group
Main contractorChina State Construction Engineering Corporation

The Exchange 106 (formerly TRX Signature Tower) is a skyscraper under construction within the Tun Razak Exchange (TRX) area, a new financial district currently being developed in Kuala Lumpur. The 106-floor building is topped with a 65-meter, 12-storey high illuminated crown making it 454 m (1,490 ft) tall.[10][11][3][4][5][6][7][8] The tower will have a net lettable area of 2.6 million square feet (240,000 square metres)[12][13] and is benchmarked against similar buildings in large international financial centers, such as London's Canary Wharf and The Shard, New York's Freedom Tower, and Shanghai IFC[14]

As of January 2018, more than half of the Exchange 106's floor space has been taken up by large tenants, predominantly local financial institutions, each taking up between 2 and 8 floors, which have column-less floor plates[clarification needed] ranging from 28,000 to 34,000 sq ft (2,600 to 3,200 m2).[15]

Proposal and development[edit]

The skyscraper was first conceptualised when TRX was controlled by 1Malaysia Development Berhad (1MDB), a fund owned by the Malaysian government. On 13 May 2015, 1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of TRX, and the Mulia Group announced that, through Mulia Property Development Sdn Bhd, they had signed a Sale and Purchase agreement for the development rights of the plot of land for the Exchange 106 (then known as the Signature Tower), with the land transacted at a value of RM665 million.[16] Ground work on the Exchange 106 plot commenced on 1 March 2016, with the mat concrete foundation laid in May 2016 (see "Progress" section below).[17]

0n 21 December 2016, whilst construction of the Exchange 106 was well in progress, the Second Finance Minister Johari Abdul Ghani said the Ministry of Finance had taken over the whole of 1MDB's TRX project itself, as part of its attempt to address the fund's unsustainable debt and restructure the company's management.[18] 1MDB was unable to develop TRX smoothly and on time as it was mired in various allegations of corruption and financial abuses.[19]

Subsequently, in July 2017, the Minister of Finance Inc, through its unit MKD Signature Sdn Bhd, acquired a 51% majority stake in Mulia Property Development Sdn Bhd for the joint development of the Exchange 106 with the Mulia Group, with the actual construction costs to be borne by the two parties based on their shareholding percentages in Mulia Property Development Sdn Bhd. MKD obtained a standby line of credit from HSBC to finance its 51% share of the actual construction costs. The MOF Inc said that its participation in the development of the Exchange 106 was agreed at the onset to only materialise when the project had reached a certain development milestone.[20][21][13]

When completed, the skyscraper will be the tallest building in Malaysia, until the completion of the Merdeka PNB 118, which is being developed by one of Malaysia's largest fund manager, Permodalan Nasional Berhad.[22] The Exchange 106 will also be the first ever South East Asian skyscraper to have more than 100 storeys. The Exchange 106 will have a total land area of 148,896 square feet and will feature 106 floors and six basement levels.[23]

Progress[edit]

The main contractor for this project is China State Construction Engineering (M) Sdn Bhd, a subsidiary of China State Construction Engineering Corporation and this building will be the tallest building built by a PRC construction company outside of China.[24]

Exchange 106

In May 2016, the tower's foundation concrete pour took place over a weekend, and was the second largest continuous concrete pour in the world.[25] Construction of the tower broke the local construction speed record by having completed a single floor in only two days at its peak.[26] In December 2017, the structure was recorded at 450 meters above ground,[4] close to surpassing the Petronas Twin Towers and taking the title of tallest building in Malaysia and South East Asia.[27] Recently[when?] the Malaysian government agreed to inject RM2.8 billion into the Tun Razak Exchange (of which The Exchange 106 is a part) in order to complete the project after discovering money was misappropriated to pay the debts of 1Malaysia Development Berhad.[28]

The construction of the TRX's shopping mall (called The Exchange) which is located at the foot of the Exchange 106 is expected to be completed by the third quarter of 2021.[29]

This is the Exchange under construction (May 2019)

Gallery[edit]

Transportation[edit]

KVMRT Tun Razak Exchange Station entrance

The skyscraper will be linked to the Sungai Buloh-Kajang Line  SBK20  TRX MRT Underground Station as well as the future Sungai Buloh-Serdang-Putrajaya Line.

See also[edit]

References[edit]

  1. ^ https://www.mulia.com.my/the-exchange-106
  2. ^ "CTBUH Height Criteria". www.www.ctbuh.org.
  3. ^ a b "Big tenants for Exchange 106". www.thestar.com.my.
  4. ^ a b c "Malaysia's new tallest building to be completed in 2018". New Straits Times. 21 December 2017. Retrieved 6 September 2018.
  5. ^ a b "Malaysia's upcoming tallest skyscraper, The Exchange 106, has signed up major tenants". 11 January 2018.
  6. ^ a b "Malaysia's tallest building to be completed in 2Q18". 21 December 2017.
  7. ^ a b Sazili, Oleh Syalikha (22 January 2018). "Mercu tanda baharu KL, komponen TRX siap Jun". BH Online. Retrieved 6 September 2018.
  8. ^ a b "Exchange 106 to eclipse Twin Towers soon as nation's tallest". The Star Online.
  9. ^ "The Exchange 106 -The Skyscraper Center". www.skyscrapercenter.com. Retrieved 17 October 2018.
  10. ^ https://www.skyscrapercenter.com/building/the-exchange-106/24971
  11. ^ "Mulia Group Malaysia - The Exchange 106". The Mulia Group Malaysia. Retrieved 1 October 2017.
  12. ^ "Exchange 106 shaping up to be the tallest". The Star Online. Retrieved 4 February 2018.
  13. ^ a b ""Ministry of Finance Malaysia - Media Release - MKD SIGNATURE SDN BHD RE: TRX TOWER"". treasury.gov.my. Retrieved 10 March 2018.
  14. ^ "Big tenants for Exchange 106". The Star Online. Retrieved 4 February 2018.
  15. ^ "The EXCHANGE 106". mulia.com.my. Retrieved 25 February 2018.
  16. ^ "TUN RAZAK EXCHANGE ATTRACTS INDONESIA'S LEADING PROPERTY DEVELOPER". trx.my. 13 May 2015. Retrieved 3 February 2018.
  17. ^ "Bai Tian: China offers best quality of construction to Malaysia, high quality of techniques and speed receive recognition". malaysianchinesenews.com. 2 February 2018. Retrieved 3 February 2018.
  18. ^ "TRX project now completely under Finance Ministry". Malaysiakini. 21 December 2016. Retrieved 9 January 2018.
  19. ^ "TRX tower likely in world's Top 20 tallest". The Rakyat Post. Kuala Lumpur, Malaysia. 30 April 2016. Retrieved 30 October 2016.
  20. ^ "MOF Inc to jointly develop TRX Tower with The Mulia Group". freemalaysiatoday.com. 8 March 2018. Retrieved 8 March 2018.
  21. ^ "MoF confirms jointly developing TRX Tower with Mulia Group". thestar.com.my. 8 March 2018. Retrieved 8 March 2018.
  22. ^ "Kuala Lumpur Skyscraper Diagram". SkyscraperPage.com. Retrieved 22 February 2017.
  23. ^ "Exchange 106 set to be Malaysia's new tallest building". Free Malaysia Today.
  24. ^ "Malaysian gov't to jointly develop skyscraper with Indonesia's Mulia". xinhuanet. 8 March 2018. Retrieved 10 March 2018.
  25. ^ "Exchange 106 to eclipse Twin Towers soon as nation's tallest". The Star Online. Retrieved 26 December 2017.
  26. ^ "7 Fun Facts About the Exchange 106 That's Set to Open in September 2018". World Of Buzz. Retrieved 26 May 2019.
  27. ^ "New TRX skyscraper to surpass Petronas Twin Towers' height". Malay Mail.
  28. ^ "Malaysia to inject $950m to complete Najib's pet project TRX". The Straits Times. 22 June 2018.
  29. ^ https://www.thestar.com.my/business/business-news/2019/06/04/shopping-mall-at-trx-to-be-ready-by-q3-2021/#IVdu32wmt3l0ij2F.99