Valiram Group completed the purchase of a 40% stake in The Exchange TRX mall and a 60% stake in the TRX Campus office from Lendlease Group on May 25, 2026 [1, 2, 3, 4]. The transactions mark Lendlease's exit from the TRX Campus office project and a reduction of its mall stake to 20% [1, 2, 3, 4].
These assets are located within Lendlease’s 17-acre TRX Lifestyle Quarter, part of the larger 70-acre Tun Razak Exchange (TRX) master development in Kuala Lumpur [1, 2, 3, 4]. Lendlease announced in December 2025 plans to divest RM1.1 billion worth of mall and office assets in the precinct as part of its capital recycling strategy [1, 2, 3, 4].
Valiram had previously acquired the 519-room Impiana KLCC Hotel in October 2025 for RM315 million from KLCC Holdings and Magma Group [1, 2, 3, 4]. Datuk Ashwin Valiram, executive director of Valiram Group, said the company is eager to collaborate with its new partner beyond the mall, noting they "look forward to working with its new partner not just on the mall, but future real estate projects" within TRX, without revealing specific plans [1].
Lendlease first indicated intentions to seek partners for TRX mall and office divestments in December 2024 [1]. The completion of Valiram’s acquisition this May represents the latest step in executing that plan [1, 2, 3, 4].
Following the deal, Valiram holds 40% of The Exchange TRX mall and 60% of the TRX Campus office, while Lendlease retains a 20% stake in the mall [1, 2, 3, 4]. The companies have not disclosed the transaction values for these specific stakes.
Valiram’s growing presence in Kuala Lumpur’s real estate market with both hotel and lifestyle precinct assets signals an expansion of its property interests in high-profile locations. The group’s future moves in TRX will be watched closely by market observers.
