Thursday, 15 June 2017

(NST) HSBC Bank signs agreement to build US$250m HQ in Tun Razak Exchange

KUALA LUMPUR: HSBC Bank and TRX City have signed a sale-and-purchase agreement for the development of the bank’s future headquarters at the upcoming international financial district Tun Razak Exchange (TRX).

The US$250 million investment for the future HSBC Malaysia TRX headquarters with a minimum office space of 568,000 square feet, makes HSBC the first foreign bank to invest in the TRX development.

This investment will be fundamental to developing Malaysia as a financial centre in the ASEAN region.

“HSBC has enjoyed more than 130 years of remarkable business success in Malaysia. Malaysia is a priority market for the HSBC Group globally and this investment further cements our growth plans in Malaysia.

“The collaboration between HSBC and TRX demonstrates our commitment to our employees, the community and our business in Malaysia. Significantly, it also reinforces the important role Malaysia plays in HSBC’s ASEAN strategy,” commented HSBC Malaysia CEO, Mukhtar Hussain in a statement.

Mukhtar added: “TRX is ideally located in the heart of Malaysia’s capital and will be crucial to enhancing Malaysia’s status as an international financial and business centre.

“We envisage that many multi-national and local companies will be attracted to this area.”

"With our strong positioning in the country as the leading foreign bank and unparalleled international network, HSBC is ideally positioned to boost TRX’s success," he said.

TRX City Sdn Bhd CEO Datuk Azmar Talib said it is a significant milestone for TRX.

“We are happy to have a leading financial services institution like HSBC as our partner, as this will solidify our role in strengthening Kuala Lumpur’s position as a leading centre for international finance and business," he said.

To date, around 70 per cent of the plots available in TRX have been commercialised.

“TRX City continues to receive significant interest from various local and international investors and tenants, including several of the world’s major banks and financial institutions," he said.

It has also signed global property and infrastructure group Lendlease to jointly develop the Lifestyle Quarter; Indonesia’s leading property developer Mulia Group to develop the Signature Tower plot; Affin Bank Berhad for an office tower; Lembaga Tabung Haji for a residential plot, and global leader in water management Veolia Water Technologies as the water treatment and recycling concessionaire.

As the most seamlessly connected district in the city, TRX will feature an integrated MRT interchange station. This is further supported by direct links to major roads such as Jalan Tun Razak, the MEX highway and the SMART Tunnel.

TRX will also improve connectivity beyond its boundaries. It is currently working with DBKL on the Jalan Tun Razak traffic dispersal project and on building pedestrian-friendly walkways that will connect to the Bukit Bintang shopping belt to TRX.