Lendlease Secures Malaysian Family Office as New Partner for The Exchange TRX

Kuala Lumpur, 22 December 2025 – Lendlease has announced a new capital partner for its flagship Malaysian development, The Exchange TRX, as part of its ongoing capital recycling initiative.

A Malaysian family office will acquire a 40% interest in the popular retail mall from Lendlease, along with Lendlease’s full 60% stake in the adjacent office asset. The transaction is valued at approximately RM1.1 billion (around A$400 million), reflecting the precinct’s robust performance since opening in 2023.

Lendlease

In its first year, the mall achieved RM2.64 billion in tenant sales and attracted 45 million visitors, featuring flagship stores like Malaysia’s first Apple outlet and debuts from brands such as Gentle Monster and Alo Yoga.

Lendlease retains a 20% stake in the mall, continues asset and property management, and holds 60% interests in residential plots and the hotel. Completion is expected in the second half of FY26.

Justin Gabbani, CEO of Investment Management at Lendlease, highlighted the deal as an endorsement of the precinct’s success and long-term potential.

Business News