Exchange 106 Developer Eyes 50% Occupancy By End-2020

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Exchange 106 Developer Eyes 50% Occupancy By End-2020

Mulia Property Development Sdn Bhd targets to achieve a 50% occupancy rate for Exchange 106 at the Tun Razak Exchange (TRX) by end-2020. 

In fact, the developer expects to receive the full Certificate of Completion and Compliance (CCC) for the entire building in the coming weeks, enabling the tenancy process to smoothly proceed.

The building’s lower half is now open for occupancy, reported Bernama.

“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,” said Patrick Honan, general manager at Mulia Property Development.

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“Physically, we have done a hand over (ceremony) to two tenants to date and the first tenant will be operating in the new year.”

The developer noted that the 106-storey building is aimed at bringing the drive and energy of international hubs like New York’s World Trade Centre, Shanghai’s International Finance Centre and Canary Wharf to this part of the world.

At 492 metres, the building is the tallest in Malaysia and the world’s sixth tallest office building.

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“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,” said Honan.

“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.”

 

Image source from Wikipedia 

 

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