The Exchange 106
Exchange 106 in May 2020
Former namesMenara Platinum, Signature Tower
Alternative namesThe Signature Tower, TRX 106, TRX Signature Tower
General information
StatusCompleted
TypeOffice
LocationTun Razak Exchange, Kuala Lumpur, Malaysia
Construction started2016
Completed2019
OwnerTRX City Sdn Bhd (under Minister of Finance Incorporated)
Height
Architectural445.5 m (1,462 ft)[3]
Tip445.5 m (1,462 ft)[4] [5][6][7][8][9][10]
Top floor397.3 m (1,303 ft)[1]
Technical details
Floor count95 (with 6 below ground)[2]
Floor area453,835 m2 (4,885,000 sq ft)
Design and construction
ArchitectMulia Group Architects; Peter Chan (Architect of Record)
DeveloperMulia Group[11]
Main contractorMulia Group and China State Construction Engineering (M) Sdn Bhd[12]
Website
www.exchange106.my
References
[1]

The Exchange 106 is a skyscraper within the Tun Razak Exchange (TRX), a new financial district currently being developed in Kuala Lumpur, Malaysia. The 95-floor building is topped with a 65-metre (213 ft), 12-storey high illuminated crown making it 445.5 m (1,462 ft) tall.[1][13][5][6][7][8][9][10][excessive citations] The tower will have a net lettable area of 240,000 square metres (2.6 million square feet).[14][15][16][excessive citations]

The Exchange 106 is currently the 21st tallest building in the world according to the Council on Tall Buildings and Urban Habitat (CTBUH) and the third-tallest building in Malaysia as of today.[17]

As of October 2019, about 46,000 m2 (500,000 sq ft) of Exchange 106's floor space was expected to be taken up by tenants.[18] The floor space is column-less, ranges from 2,600 to 3,200 m2 (28,000 to 34,000 sq ft).[19]

Proposal and development

The skyscraper was first conceptualised when TRX was controlled by 1Malaysia Development Berhad (1MDB), a sovereign fund owned by the Government of Malaysia. 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, that 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.[20] Groundwork on the Exchange 106 plot commenced on 1 March 2016, with the mat concrete foundation laid in May 2016 (see "Progress" section below).[21]

Presently, Mulia Property Development Sdn Bhd is 51% owned by Ministry of Finance through MKD Signature Sdn Bhd and 49% by Mulia International.

Progress

The Exchange 106 was managed by the Mulia Group,[22] with structural construction carried out by the China State Construction Engineering Corporation, through its Malaysian subsidiary China State Construction Engineering (M) Sdn. Bhd.[23]

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.[24] In December 2017, the building was structurally topped out, 19 months after commencement, achieving an average of 3 days a floor.[25]

Exchange 106 achieved its Certificate of Completion and Compliance in September 2019.[26]

TRX shopping mall (The Exchange TRX), located at the foot of The Exchange 106, under construction in May 2019.
TRX shopping mall (The Exchange TRX), located at the foot of The Exchange 106, under construction in May 2019.

The construction of the TRX's shopping mall (known as The Exchange TRX) which is located at the foot of the Exchange 106 is expected to be completed by third quarter of 2021.[27] Later on, the construction of the mall was delayed due to the strict Movement Control Order (MCO) in the country caused by the COVID-19 pandemic. The completion of the mall was pushed back to 2022.[28]

As of December 2021, the overall infrastructure of TRX is at 80 per cent completion, while The Exchange TRX mall is expected to be completed in the fourth quarter of 2022.[29]

Links to 1MDB

See also: 1Malaysia Development Berhad scandal

Considered the "pet project" of then prime minister of Malaysia Najib Razak, work to complete the building continued despite uncertainties that arose when his coalition, the Barisan Nasional, lost the 2018 Malaysian general election.[30]

In June 2018, the Malaysian government under Pakatan Harapan had to inject a further RM2.8 billion into the master development of Tun Razak Exchange, of which The Exchange 106 is a part of, to complete the project.[31] This was after it was discovered that significant amounts of public funds was misappropriated from the master developer TRX City[32] to pay the debts of 1Malaysia Development Berhad (1MDB), which was US$7.8 billion in debt, as well as being funneled into Najib's personal bank account.[33][34]

Condemnation

The tower, along with Merdeka 118, has often been referred by many Malaysians as highly unnecessary and a "national disgrace", with their presence on the Kuala Lumpur skyline "tainted" and signifying the legacy of the scandal.[35][36]

Gallery

Transportation

The skyscraper will be linked to the Kajang Line  SBK20  Tun Razak Exchange MRT underground station as well as an upcoming station on the  PY23  Putrajaya Line (SSP).[citation needed]

See also

References

  1. ^ a b c "The Exchange 106 - the Skyscraper Center".
  2. ^ "The Exchange 106 -The Skyscraper Center". www.skyscrapercenter.com. Retrieved 17 October 2018.
  3. ^ "The Exchange 106 - The Skyscraper Center". www.skyscrapercenter.com. Retrieved 26 October 2019.
  4. ^ "CTBUH Height Criteria". www.www.ctbuh.org.
  5. ^ a b "Big tenants for Exchange 106". www.thestar.com.my.
  6. ^ a b "Malaysia's new tallest building to be completed in 2018". New Straits Times. 21 December 2017. Retrieved 6 September 2018.
  7. ^ a b "Malaysia's upcoming tallest skyscraper, The Exchange 106, has signed up major tenants". The Straits Times. 11 January 2018.
  8. ^ a b "Malaysia's tallest building to be completed in 2Q18". 21 December 2017.
  9. ^ a b Sazili, Oleh Syalikha (22 January 2018). "Mercu tanda baharu KL, komponen TRX siap Jun". BH Online. Retrieved 6 September 2018.
  10. ^ a b "Exchange 106 to eclipse Twin Towers soon as nation's tallest". The Star Online.
  11. ^ http://www.mulia.com.my/
  12. ^ https://english.cscec.com/Business_en/HousingConstruction/
  13. ^ "Mulia Group Malaysia - The Exchange 106". The Mulia Group Malaysia. Retrieved 1 October 2017.
  14. ^ "Exchange 106 shaping up to be the tallest". The Star Online. Retrieved 4 February 2018.
  15. ^ ""Ministry of Finance Malaysia - Media Release - MKD SIGNATURE SDN BHD RE: TRX TOWER"". treasury.gov.my. Retrieved 10 March 2018.
  16. ^ "Big tenants for Exchange 106". The Star Online. Retrieved 4 February 2018.
  17. ^ "The Exchange 106 - The Skyscraper Center". www.skyscrapercenter.com. Retrieved 7 October 2021.
  18. ^ "TRX's Exchange 106 expects first tenants in December | The Star Online". www.thestar.com.my. Retrieved 5 February 2020.
  19. ^ "The EXCHANGE 106". mulia.com.my. Retrieved 25 February 2018.
  20. ^ "TUN RAZAK EXCHANGE ATTRACTS INDONESIA'S LEADING PROPERTY DEVELOPER". trx.my. 13 May 2015. Retrieved 3 February 2018.
  21. ^ "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.
  22. ^ "PressReader.com - Your favourite newspapers and magazines". www.pressreader.com. Retrieved 5 February 2020.
  23. ^ "The Exchange 106 - The Skyscraper Center". www.skyscrapercenter.com. Retrieved 5 February 2020.
  24. ^ "Exchange 106 to eclipse Twin Towers soon as nation's tallest". The Star Online. Retrieved 26 December 2017.
  25. ^ "Exchange 106 to eclipse Twin Towers soon as nation's tallest | The Star Online". www.thestar.com.my. Retrieved 5 February 2020.
  26. ^ Business, N. S. T. (2 October 2019). "Exchange 106 ready to house MNCs, first tenants expected by December". NST Online. Retrieved 5 February 2020.
  27. ^ "Shopping mall at TRX to be ready by Q3 2021".
  28. ^ "Opening of retail mall at TRX Exchange delayed". The Star. Retrieved 7 October 2021.
  29. ^ Aman, Azanis Shahila (1 December 2021). "TRX ramping up construction to meet revised completion targets | New Straits Times". NST Online. Retrieved 20 December 2021.
  30. ^ "Tun Razak Exchange investors were seeking clarity | The Star Online". www.thestar.com.my. Retrieved 5 February 2020.
  31. ^ June 22, Chester Tay / The Edge Financial Daily; Am +08, 2018 08:49 (22 June 2018). "Tun Razak Exchange gets RM2.8b bailout". The Edge Markets. Retrieved 20 December 2021.((cite web)): CS1 maint: numeric names: authors list (link)
  32. ^ June 21, Sulhi Azman / theedgemarkets com; Pm +08, 2018 20:21 (21 June 2018). "TRX City to lodge police report over RM3b fund misappropriation". The Edge Markets. Retrieved 20 December 2021.((cite web)): CS1 maint: numeric names: authors list (link)
  33. ^ Leong, Trinna (22 June 2018). "Malaysia to inject $950m to complete Najib's pet project TRX". The Straits Times.
  34. ^ "Govt to continue with Tun Razak Exchange, says Guan Eng | The Star Online". www.thestar.com.my. Retrieved 5 February 2020.
  35. ^ Schneider, Keith (24 July 2018). "Malaysia Seeks to Complete a $10 Billion Project Rocked by Scandal". nytimes. New York Times. Retrieved 12 October 2021.
  36. ^ Shukry, Anisah (23 October 2019). "Inside Malaysia's Tallest Skyscraper Once Roiled by 1MDB". bloomberg.com. Bloomberg News. Retrieved 12 October 2021.