What Is Still to Be Priced Into TRX: PwC's Tower, Monash's Campus, Kimpton and the RM1.1bn Valiram Deal
- 800,000 sq ftLot C7.12 office tower NLA, PwC anchor, target 2029
- RM2.8bnMonash University Malaysia campus planned in TRX
- 75%The Exchange 106 occupancy
Four large commitments are still to be priced into Tun Razak Exchange (TRX), where homes already trade at RM2,266 to RM2,307 psf on average across the two completed towers in the masterplan. They are a 39-storey office tower anchored by PwC Malaysia, a RM2.8 billion Monash University campus, IHG’s first Kimpton hotel in Malaysia, and the Valiram family’s RM1.1 billion purchase of the mall and campus office. Beneath them, The Exchange 106 is already 75% occupied.
Key facts: an 800,000 sq ft tower due in 2029, up to 22,500 Monash students by 2040, and 466 Kimpton rooms open since December 2025.
For where prices stand today, start with the TRX price map.
1. Lot C7.12: PwC Malaysia’s 39-storey tower (2029)
- Size: 39 storeys and 800,000 sq ft of net lettable area.
- Anchor: PwC Malaysia takes at least 200,000 sq ft, 25% of the NLA, and moves its headquarters into TRX.
- Timing: target completion 2029.
Why it matters for homes: a Big Four headquarters places thousands of professionals within walking distance of TRX’s residences. They are the tenants who rent furnished homes near the office, which supports rents at TRX Residences and CORE Residence.
2. Monash University Malaysia: a RM2.8 billion campus
Monash University Malaysia plans a RM2.8 billion campus within TRX, built with master developer TRX City. The university has said it will open in 2032 and serve up to 22,500 students and 1,700 staff by 2040.
Why it matters for homes: a university brings a permanent academic population of lecturers, researchers, postgraduates and visiting faculty, and families who want to live beside a top-ranked institution. That is year-round rental demand, apart from the office cycle.
3. Kimpton Naluria Kuala Lumpur (IHG)
IHG opened Kimpton Naluria Kuala Lumpur in TRX in December 2025, with 466 rooms from RM697 a night. It is the first Kimpton in Malaysia.
Why it matters for homes: a lifestyle hotel adds restaurants, bars and a rooftop scene to the district, and brings international visitors who discover TRX first-hand. Hotel-grade amenities next door raise what residents will pay to live here.
4. The Valiram family’s RM1.1 billion deal
The Valiram family acquired Lendlease’s stakes in The Exchange TRX mall and the TRX campus office for RM1.1 billion.
Why it matters for homes: a family-controlled luxury retail group committing RM1.1 billion is a long-term wager on TRX footfall and spending power. Conviction at that scale steadies home buyers too.
What is already working: office demand
The Exchange 106 is 75% occupied. Grade A+ offices in TRX rent at RM10 to RM17 psf a month, against RM4 to RM5 psf for older stock nearby. The gap shows where Kuala Lumpur’s leading employers are choosing to be, and it creates a deep pool of high-income tenants for homes priced above RM1,500 psf.
How the pipeline shows up in prices
| Catalyst | Status | What it adds |
|---|---|---|
| Lot C7.12 tower, PwC Malaysia | Target completion 2029 | Thousands more professionals within walking distance |
| Monash University Malaysia | RM2.8 billion campus planned | Permanent academic population and family demand |
| Kimpton Naluria Kuala Lumpur | Open since December 2025, 466 rooms | Lifestyle amenity and international visibility |
| Valiram family | RM1.1 billion acquisition | Long-term confidence in the mall and campus office |
| The Exchange 106 | 75% occupied | Today’s tenant pool for TRX homes |
TRX Residences moved from RM2,260 psf in 2024 to RM2,326 psf in 2025, a 2.9% rise, while these commitments were still being announced. As they complete, demand for homes inside the masterplan has more reasons to rise than to fall.
How it compares
Our radius maps show RM5 million buys about 3,043 sq ft near KLCC, against 372 in Hong Kong. See also luxury housing in Kuala Lumpur 2026.
What to weigh
- Timing. The full effect arrives over several years, to 2032.
- Supply. Judge new launches in TRX for 2026 against transacted prices.
Our view
The market has priced what TRX is, not yet what it is becoming: a Big Four headquarters, a university and a hotel scene beside the residences. Buying before 2029 buys that pipeline at today’s psf.
Frequently asked questions
What new developments are coming to TRX?
Four major commitments are still to mature in TRX: a 39-storey office tower on Lot C7.12 anchored by PwC Malaysia (target 2029), a RM2.8 billion Monash University Malaysia campus, Kimpton Naluria Kuala Lumpur, and the Valiram family’s RM1.1 billion purchase of the mall and campus office. Kimpton Naluria opened in December 2025 with 466 rooms.
When will the Monash University campus in TRX open?
Monash University Malaysia plans to open its RM2.8 billion TRX campus in 2032. It aims to serve up to 22,500 students and 1,700 staff by 2040, a permanent academic population that supports year-round rental demand.
How occupied is The Exchange 106?
The Exchange 106 is 75% occupied. Grade A+ offices in TRX rent at RM10 to RM17 psf a month, against RM4 to RM5 psf for older stock nearby, which creates a deep pool of high-income tenants for TRX homes.
Is TRX a good long-term property investment?
Yes: TRX Residences rose 2.9%, from RM2,260 psf in 2024 to RM2,326 psf in 2025, while these commitments were still being announced. New office, academic and hospitality demand is still to arrive, which gives homes inside the masterplan more reasons to rise than to fall.
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Cover: Photo: Ahmad Ali Karim / Wikimedia Commons, CC0