Exchange 106 expects 50% occupancy by end-2020
KUALA LUMPUR: Mulia Property Development Sdn Bhd, the developer of Exchange 106 at the Tun Razak Exchange (TRX), is targeting to achieve 50% occupancy rate for the tower by the end of next year.
Its general manager Patrick Honan said the company expects to get the full Certificate of Completion and Compliance (CCC) for the whole building in the coming weeks, allowing the tenancy process to proceed smoothly.
“We are lucky, as after three years of construction, we will be achieving the full CCC within the coming weeks. Currently, we have partial CCC up to level 57, which enables us to have tenants in the tower, as well as getting the office space ready for occupation.
“Physically, we have done a hand over (ceremony) to two tenants to date and the first tenant will be operating in the new year,” he said.
The lower half of the building is now open for occupancy.
According to the developer, the 106-floor building is aimed to bring the energy and drive of international hubs like Canary Wharf, New York’s World Trade Centre and Shanghai’s International Finance Centre to this part of the world.
Standing at 492 metres, Honan said it is the tallest building in the country and the sixth tallest office building in the world.
“The tower has about 2.6 million sq ft space, equivalent to five office buildings, and the occupancy rate is picking up. We are looking at up to 20% occupancy by the first quarter of 2020, and expect to increase this to 50% by the end of next year.
“We are part of the master plan development (of the TRX) and this is one of the many buildings. As development matures, tenancy will pick up. We have the first tenant coming in 2020,” he said.
As for the rest of the developments, including the TRX Mall which will be completed in the next two to three years, Honan said there would be fresh demand from potential tenants that would spark interest in occupying the rest of the building. – Bernama