Land area of 70 acres located on the outskirts of Kuala Lumpur and is bordered by Jalan Tun Razak has been identified for the construction of 26 skyscrapers and are sure to increase the density of population and traffic congestion in the area.
Formerly known as Kuala Lumpur International Financial District (KLIFD) and converted to TRX for contributions and continue the legacy of the second prime minister and Najib's father Tun Abdul Razak Hussein.
The private real estate developers have strong reason to worry as the government offers various incentives to attract investors and tenants (tenant) to the area.
According to data provided by CB Richard Ellis (Malaysia) Sdn Bhd, the supply of office space in the Klang Valley today to increase by five to seven million square feet annually.
Since the year 2011, rental rates in Kuala Lumpur City Centre Round about RM7 and RM8 per sq ft and this (tenant market) profitable for the owners tenants is difficult to demand increase in rental rates.
With the addition of the total office space when TRX completed, it will put pressure on rental rates can cause the tenant to move into the office TRX following various incentives.
According to Bernama, between the incentives announced by the government is 100 per cent income tax exemption, the abolition of stamp duty on loan agreements and services and income tax exemption of 70 percent over five years to eligible property developer operating in the TRX.
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