Tun Razak Exchange RM26 billion Property Development

Overview:

• The Tun Razak Exchange (TRX) is a joint property complex comprising of office towers for banking and finance, residences and retail spaces between 1Malaysia Development Berhad (1MDB)—a government-owned entity—and the Abu Dhabi-based Mubadala Development.
• Developed on 34.4 hectares of land located in Kuala Lumpur, this will be Malaysia's first international financial district on completion.
• The project is a component of the Economic Transformation Programme and was previously known as the Kuala Lumpur International Financial District (KLIFD). 
• Developers will be getting 70% income tax reductions for five years, and companies moving into TRX may receive 100% tax exemptions for a full decade.

Wai Yee Tsang - Journalist Asia-Pacific