TRX's Signature Tower GDV estimated at RM3.5b

Mulia Group, the developer of Tun Razak Exchange's (TRX) Signature Tower, estimates a gross development value (GDV) of over RM3.5 billion for the project which is slated for completion in mid-2018.

Chief executive director Datuk WH Lai said the centrepiece landmark is expected to be the 15th tallest building in the world at 1,440 ft (438.9m) tall, close to the Petronas Twin Towers, which measures 1,483 ft (452m).

Signature Tower will comprise 92 floors and six basement levels, situated on a land area of 149,381 sq ft (13,878 sq m) and a typical floor plate of 34,000 sq ft (3159 sq m).

"Yesterday, we began pouring concrete for a massive 20,200 cubic m. mat foundation, or about the size of eight Olympic swimming pools.

"It will take about 48 hours over this weekend and once hardened, it will weigh about 50 million kilogrammes," Lai told reporters during a briefing on the status of the project here today.

He said the concrete pour is among the largest recorded globally, involving 8.5 million kg of cement, 16 million kg of sand, 19 million kg of construction aggregates and about two million kg of ice to overcome the extreme heat generated during the process.

In May last year, Mulia Group, Indonesia's leading property developer, inked an agreement with TRX to develop Signature Tower, with the land transaction valued at RM665 million.

Located in the financial centre, it will feature a square and a circle, representing equality and strength in Islamic architecture, enabling it to complement the other iconic buildings in the Kuala Lumpur landscape.

"We are working on an aggressive schedule, the building (tower) must be built in a fast-track environment, with technology used for this project geared towards fast tracking.

"The reason for this is because we need to catch the momentum and get the tenants inside. If we prolong the project, there will be a prolonged financing cost to it.

"We have also consolidated and integrated all of our expertise in-house, a full team for property management, construction to maintenance to ease the whole process for this project," said Lai.

He said the total net lettable area (NLA) is 2.65 million sq ft (246,193 sq m).

Lai also said the location is near the huge underground Mass Rapid Transit (MRT) interchange station, which can handle about 25,000 passengers per hour during peak hours or 500,000 passengers a day when it is operational in 2017.