The Exchange 106 is a skyscraper within the Tun Razak Exchange area, a new financial district currently being developed in Kuala Lumpur. The 95-floor building is topped with a, 12-storey high illuminated crown making it tall. The tower will have a net lettable area of and is benchmarked against similar buildings in large international financial centers, such as London's Canary Wharf and The Shard, New York'sFreedom Tower, and Shanghai IFC. As of October 2019, about 500,000 square feet of Exchange 106's floor space has been taken up by large tenants, including a top five Fortune 500 global consulting firm and some of the world's most recognized e-commerce platforms. The floor space is column-less, ranges from.
Proposal and development
The skyscraper was first conceptualised when TRX was controlled by 1Malaysia Development Berhad, a fund owned by the Malaysian government. On 13 May 2015, 1MDB Real EstateSdn Bhd, the master developer of TRX, and the Mulia Group announced that, through Mulia Property Development Sdn Bhd, they had signed a Sale and Purchase agreement for the development rights of the plot of land for the Exchange 106, with the land transacted at a value of RM665 million. Ground work on the Exchange 106 plot commenced on 1 March 2016, with the mat concrete foundation laid in May 2016.
Progress
The Exchange 106 was wholly project managed by the Mulia Group, with structural construction carried out by the China State Construction Engineering Corporation, through its Malaysian subsidiary China State Construction Engineering Sdn. Bhd. 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. Construction of the tower broke the local construction speed record by having completed a single floor in only two days at its peak. In December 2017, the building was structurally topped out, 19 months after commencement, achieving an average of 3 days a floor. Work to complete the building continued in spite of uncertainties that arose with the change of government during the 2018 Malaysian general election held on 9 May 2018. In June 2018 the Malaysian government agreed to inject RM2.8 billion into the Tun Razak Exchange in order to complete the project after discovering money was misappropriated to pay the debts of 1Malaysia Development Berhad. Exchange 106 achieved its Certificate of Completion and Compliance in September 2019. The construction of the TRX's shopping mall which is located at the foot of the Exchange 106 is expected to be completed by the third quarter of 2021.
