KLCC (Holdings) Sdn Bhd rejects Tower M idea

(Bernama) – In a statement issued today, KLCC (Holdings) Sdn Bhd (KLCCH) refuted recent Malaysiakini and The Edge reports that a “Tower M” is being constructed in the Kuala Lumpur City Centre precinct along Jalan Binjai.

“No such construction is currently taking place. Instead, the construction works on Lots L, L1, M and N are focused on an integrated, transport-oriented development,” the statement informed.

This development comprises four levels of basement parking, a retail concourse level and four-level retail podium.

The concourse and underground car park will be fully integrated with an upcoming Mass Rapid Transit (MRT) station.

Substructure works for the project by KLCCH are in progress as planned and happening at the same time as works by MRT Corp, scheduled for completion by the end of 2022.

The communiqué went on to say that substructure works include the construction of a foundation for prospective buildings in the future so as not to disrupt the MRT line when it is in operation.

“Any future commercial construction plans on the lots in question are subject to pre-secured full tenancy as KLCCH is not a speculative developer. In view of the current market conditions, any such plan is unlikely to materialise before 2030,” it said.

“KLCCH’s mandate is to derive value from our assets and this includes any future commercial construction. To suggest otherwise is misguided.”