The Tun Razak Exchange (TRX) continues to solidify its status as Malaysia’s premier business and financial hub, with global fintech leader Ant International set to occupy three full floors at the iconic Exchange 106 skyscraper. According to industry sources, the move will increase the tower’s occupancy rate to 52%, marking a significant milestone in the building’s leasing momentum.
Ant International, a leading digital payment and financial technology provider affiliated with China’s Ant Group, is expanding its presence in Southeast Asia through this strategic investment. The company will take over approximately 62,000 square feet across the 75th, 76th, and 77th floors, making it the fifth-largest tenant in the building—trailing behind Huawei, Exness, The Access Group, and Centauri Services & Technology.
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A Strategic Expansion in Southeast Asia
Headquartered in Singapore, Ant International has been active in Malaysia since 2014, previously operating from G Tower on Jalan Tun Razak. Its new digital business centre at Exchange 106 is designed to harness local tech talent to support its global operations. In an April announcement, the company revealed plans to create over 500 jobs in the first year, with continued hiring expected through 2028.
Although Ant International has not disclosed an exact launch date for the centre, sources confirm that the tenancy agreement begins in mid-December 2024, with office fit-out works expected to conclude in Q1 2025. It remains unclear whether the company will consolidate all existing operations into the new space or maintain a dual-office setup during the transition.
This expansion underscores Ant International’s confidence in Malaysia’s growing digital economy and its role as a gateway to ASEAN markets. The country’s supportive regulatory environment, skilled workforce, and advanced infrastructure make it an ideal location for international fintech players seeking regional impact.
Exchange 106: Malaysia’s Premier Grade A Office Destination
Standing at 106 storeys, Exchange 106 is the second-tallest building in Malaysia after PNB’s Merdeka 118. With around 2.6 million square feet of net lettable area, the tower features 93 column-free office floors, offering tenants unparalleled flexibility in workspace design and layout.
The building has attracted a diverse mix of global enterprises, including:
- Huawei (240,000 sq ft / 10 floors) – relocated in September 2022
- Exness (140,000 sq ft / 6 floors) – moved in July 2023
- The Access Group (87,000 sq ft / 3 floors) – became tenant in May 2024
- Centauri Services & Technology (86,000 sq ft / 3 floors) – joined in May 2022
Centauri, part of the OKG Group, specializes in blockchain technology and services—highlighting the increasing convergence of fintech and decentralized systems within Malaysia’s corporate ecosystem.
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Rising Rents Reflect Market Confidence
According to Knight Frank Malaysia’s H1 2024 real estate report, monthly gross rental rates at Exchange 106 are estimated between RM10 and RM15 per sq ft, the highest for office space in the country. This premium pricing reflects both the building’s world-class specifications and strong demand for Prime A+ and Grade A office spaces in Kuala Lumpur.
Ant International is reportedly paying above RM10 per sq ft, a rate higher than early tenants like Huawei, who secured more favorable terms due to their earlier entry. The upward trend in rental values across KL—rising from RM6.48 per sq ft in H2 2023 to RM6.58 in H1 2024—is driven by newly completed developments and improved leasing sentiment, especially among multinational corporations.
Competitive Edge Amid New Entrants
With the opening of Merdeka 118 earlier in 2025, competition among Kuala Lumpur’s premium office towers has intensified. However, Patrick Honan, General Manager and Chief Operating Officer of Mulia Property Development Sdn Bhd—the developer and manager of Exchange 106—emphasizes that their success lies in a solutions-based management approach.
“We focus on understanding and meeting the specific requirements of tenants,” Honan said in an email interview with The Edge. “This allows us to create flexible, attractive solutions that respond to evolving market demands.”
Mulia Property, which is 51% owned by Malaysia’s Minister of Finance (Inc) and 49% by Indonesia’s Mulia Group, remains confident about future leasing performance. The company projects occupancy to reach up to 70% by the end of 2025, supported by strong pipeline interest from financial institutions and technology firms.
Notably, Bursa Malaysia is reportedly considering taking up space at Exchange 106—a move that would further cement the tower’s status as a financial nerve center.
Recent Global Tenants Signal Growing Appeal
Just weeks before Ant International’s upcoming move-in, the United Arab Emirates’ Bin Zayed International Group of Companies (BZI) officially launched its Malaysian operations at Exchange 106. Occupying one floor (approximately 29,000 sq ft), Bin Zayed International (M) Bhd will serve as the conglomerate’s strategic hub for Southeast Asia.
The grand opening on November 22 was attended by BZI Chairman Sheikh Khaled Zayed Saquer Zayed Al Nahyan and global icon Bollywood actor Datuk Shah Rukh Khan—highlighting the symbolic importance of Malaysia in regional expansion strategies.
FAQ: Frequently Asked Questions
Q: When will Ant International begin operations at Exchange 106?
A: While no official date has been confirmed, sources indicate that tenancy starts in mid-December 2024, with full operations expected by Q1 2025 following office completion works.
Q: How many employees will Ant International hire in Malaysia?
A: The company plans to create over 500 jobs in the first year, with additional hiring anticipated through 2028 as its digital business centre scales up.
Q: What makes Exchange 106 stand out among other office towers?
A: Its column-free floor plates, prime location within TRX, premium amenities, and tenant-centric management model differentiate it from competitors like Merdeka 118.
Q: Is Ant International relocating all its current operations to Exchange 106?
A: It is not yet confirmed whether existing operations at G Tower will be fully consolidated into the new space.
Q: Who are the major tenants at Exchange 106 besides Ant International?
A: Key tenants include Huawei, Exness, The Access Group, Centauri Services & Technology, and Bin Zayed International.
Q: What is the projected occupancy rate for Exchange 106 by end-2025?
A: Mulia Property expects occupancy to reach up to 70% by December 2025.
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Conclusion
The arrival of Ant International at Exchange 106 is more than just a real estate transaction—it’s a signal of Malaysia’s rising prominence on the global fintech stage. As TRX evolves into a dynamic financial district anchored by cutting-edge infrastructure and international investment, buildings like Exchange 106 are becoming magnets for innovation-driven enterprises.
With occupancy climbing toward 70%, strong rental growth, and continued interest from top-tier firms, the future of Kuala Lumpur’s commercial real estate looks increasingly bright—powered by strategic partnerships, technological advancement, and a forward-looking development vision.
Core Keywords: Ant International, Exchange 106, Tun Razak Exchange (TRX), digital business centre, fintech Malaysia, Grade A office space, Mulia Property Development