Why TRX Is Kuala Lumpur's New Prime Address: Tun Razak Exchange Explained for 2026 Buyers

Tun Razak Exchange (TRX) has become Kuala Lumpur’s newest prime address because it is the only place in the city where a working financial district, a major mall, a 10-acre park and the city’s MRT interchange sit on one master-planned 70-acre site, a short walk from Bukit Bintang. For a buyer, the question is no longer whether TRX will happen. It is how to buy into it sensibly.

Key facts: more than 85% of TRX office space is committed, about 30,000 people already work there, and TRX Residences trades at a median of RM2,265 psf, more than twice the RM976 psf upmarket average.

What TRX is, and who is behind it

TRX is a 70-acre district on Jalan Tun Razak, developed by TRX City Sdn Bhd, which is wholly owned by Malaysia’s Ministry of Finance. The master plan, as summarised by CBRE | WTW in 2024, provides for 30 buildings and about 24 million sq ft of gross floor area. Roughly half of that is office, 30% residential, and the rest split between retail and hotels.

Two design decisions matter for residents. Most of TRX’s road traffic runs underground through a 3.5-kilometre tunnel network, which keeps the surface walkable. And about 23% of the site is green or open space, anchored by a 10-acre rooftop public park. Few city-centre addresses in Asia were planned this way from day one.

Exchange 106 and the financial district

The district’s landmark is The Exchange 106. The Council on Tall Buildings and Urban Habitat records its architectural height at 453.6 metres, and it was completed in 2019. It is now the second-tallest building in Malaysia after Merdeka 118. CBRE | WTW lists its net lettable area at about 2.67 million sq ft.

Leasing a tower of that size takes years. By September 2026, Exchange 106 had reached 75% occupancy, according to Oregeon Property Consultancy data cited by EdgeProp. In the same month, TRX City said more than 85% of the district’s office supply had been committed and that about 30,000 people now work in TRX.

The occupier list explains why. HSBC, Prudential and Affin Bank have headquarters here, and CBRE | WTW’s 2024 report names Huawei, Accenture and Agoda among technology tenants. The next tower, Menara Ethos, is a 41-storey building of about 808,000 sq ft net lettable area that will house PwC Malaysia’s new headquarters. Construction is scheduled to start on 1 December 2026.

For residential investors, this matters more than any skyline photograph. A district where tens of thousands of professionals work every day has a built-in tenant pool.

The Exchange TRX and the rooftop park

The Exchange TRX opened on 29 November 2023 with about 1.3 million sq ft of net lettable area and more than 400 stores. It opened 95% occupied, according to Bernama. Its anchor is Seibu, the Japanese department store, across four levels.

Above the mall sits TRX City Park, a 10-acre rooftop park with more than 150,000 plantings drawn from around 150 native species. TRX City described it as the first major public park in the city in more than 20 years. It gives TRX residents what most KLCC towers cannot offer without a car: a large, safe, landscaped space at the doorstep, for the morning run or the evening walk.

Ownership has also matured. In December 2025, Lendlease agreed to sell a 40% stake in the mall and its full 60% stake in the office tower to a Malaysian family office for about RM1.1 billion, keeping 20% of the mall and its management role. Long-term local capital buying into the mall is a clear signal of confidence in the precinct.

The hotel layer is now in place too. Kimpton Naluria Kuala Lumpur, a 26-storey, 466-room hotel above The Exchange TRX, announced its debut in January 2026, according to IHG.

Transport: the city’s MRT interchange

TRX station opened on the MRT Kajang Line in July 2017. When the Putrajaya Line opened in full on 16 March 2023, TRX became an interchange between the two lines. CBRE | WTW describes it as the only interchange between MRT Line 1 and Line 2 in the city, connecting to 64 stations across the Klang Valley.

By road, TRX sits at the junction of Jalan Tun Razak and Jalan Sultan Ismail, with links to the SMART Tunnel and other highways. On foot, CBRE | WTW puts Pavilion Kuala Lumpur about 400 metres away via an upgraded Jalan Gading, and Suria KLCC about a 15-minute walk.

The Bukit Bintang connection

TRX’s strongest advantage over other new districts is that it does not have to build a neighbourhood from scratch. Bukit Bintang, with its malls, restaurants and hotels, is already next door. TRX adds what Bukit Bintang lacked: Grade A offices, a park and newer residential stock. Each makes the other more useful. We cover daily life in Living at TRX.

How TRX residential has performed so far

The first residential towers, TRX Residences, completed in the first quarter of 2024 with 896 units across a 53-storey and a 57-storey tower. CORE Residence @ TRX added about 700 more units on a 1.65-acre freehold plot.

Brickz records 560 transactions at TRX Residences with a median of RM2,265 psf. The most recent 50 transactions, from June 2025 to July 2026, had a median of RM2,348 psf. For context, CBRE | WTW put the 2025 average for upmarket high-rise homes across six prime Kuala Lumpur areas at RM976 psf. We break the numbers down in TRX Residences: what 560 transactions tell us.

EdgeProp’s September 2026 analysis, using Oregeon data, described a two-tier market around TRX: newer towers inside the district averaging above RM2,200 psf, and older nearby buildings trading at less than 40% of that. The TRX premium attaches to new, well-specified stock within the master plan, not to every building with a TRX-adjacent postcode.

What comes next

Several projects will add to the district’s depth. Monash University Malaysia has announced a RM2.8 billion campus with TRX City, due to open in 2032 and planned for up to 22,500 students by 2040. CBRE | WTW noted four further towers planned within the TRX Residences plot, and TRX City’s chief executive has said the district expects about 40,000 knowledge workers and 12,000 residents at full build-out.

That pipeline supports long-term demand and also brings new supply, so judge each project on its plot, specification and density rather than on the TRX name alone. Our guide to new launches in TRX for 2026 does exactly that. For how TRX compares with the established alternatives, see TRX vs KLCC vs Bukit Bintang and KLCC new launches.

How it compares

Against other Asian capitals, TRX is still early value: RM5 million buys about 3,043 sq ft near KLCC, against 372 sq ft in Hong Kong, 665 in Singapore and 699 in Tokyo (radius maps). The city-wide picture is in luxury housing in Kuala Lumpur 2026.

Our view

TRX is no longer a plan; it is a working district with tenants, shoppers and a park in daily use. It is, in our view, the best place in Kuala Lumpur to own a new home today, provided you buy inside the master plan, in well-specified stock, and hold for the university and office towers still to come.

Frequently asked questions

Is TRX the same as KLCC?

No. KLCC is the area around the Petronas Twin Towers, about a 15-minute walk away. TRX is a separate 70-acre financial district on Jalan Tun Razak, beside Bukit Bintang.

Can foreigners buy property in TRX?

Yes, subject to Kuala Lumpur’s minimum price for foreign buyers and state consent. Our foreign buyer guide covers thresholds, stamp duty and MM2H.

Which MRT lines serve TRX?

TRX station is an interchange between the MRT Kajang Line and the MRT Putrajaya Line, with a direct link to The Exchange TRX.

Is TRX freehold?

Yes. The completed homes inside TRX, TRX Residences and CORE Residence @ TRX, are freehold.

Register for a private viewing

If you are considering a home in TRX, we are arranging private previews of a new private residence launching near TRX in Q4 2026. Register for a private viewing and we will send details before public release.