Half of The Exchange 106’s floor space taken up despite high rents: Report

The Exchange 106 is set to be Malaysia’s tallest building in 2018.
Mulia Group

Malaysia’s tallest building-to-be has already signed up enough tenants to fill close to half its available space, local daily The Star reported on Thursday (Jan 11).

The Exchange 106, which will have 106 floors, has an asking rent of RM17 per square foot (psf), higher than the RM13 psf rate at Menara 3 Petronas, the report said.

In Oct last year, Knight Frank named KL the 16th most expensive city in the world to rent office space.

With up to 47 per cent of its 2.6 million sq ft space already taken up and 9 per cent under negotiation, the building’s tenants are said to be large institutions which require big spaces.

Developed by Indonesia’s Mulia Group, the skyscraper in the Tun Razak Exchange district is slated for completion by the second quarter of this year.

It is expected to have its first tenants move in in the third quarter.