Instead, the current construction works are focused on an integrated transport-oriented development
by AZREEN HANI / pic by TMR
KLCC (Holdings) Sdn Bhd (KLCCH) has denied that it is in the middle of construction works for a mega project called “Tower M”, as speculated in a recent report by a business daily. KLCCH said in a statement that “no such construction is currently taking place”.
“Instead, the current construction works on Lots L,L1, M and N in the KLCC Precinct along Jalan Binjai, are focused on an integrated transport-oriented development,” KLCCH stated.
The statement also refuted the newspaper’s report that the company is planning to build another skyscraper in the city.
“Any future commercial, construction plans on the Lots in question, are subject to pre-secured full tenancy as KLCCH is not a speculative developer,” KLCCH stated, adding that in view of the current market conditions, any such plan is unlikely to materialise before 2030.
“KLCCH’s mandate is to derive value from our assets and this includes any future commercial construction. To suggest otherwise is misguided,” the firm said.
The business daily had reported that KLCCH plans to build a 700m building called Tower M within the KL City Centre development and that the construction of the office tower atop a retail podium will commence on a four-acre (1.62ha) site near Jalan Binjai in Kuala Lumpur after 2030, with an estimation between RM3.7 billion and RM4.2 billion in gross development value.
KLCCH stated that the current ongoing construction works comprise four levels of basement car park, one level of concourse retail and four levels of retail podium.
The concourse and underground car park will be fully integrated with the upcoming mass rapid transit (MRT) station.
“The substructure works for the projects by KLCCH are in progress as planned, concurrently with the MRT Station works by MRT Corp, scheduled to be completed by end 2022.
“The sub-structure includes the construction of a foundation for any prospective buildings in the future, so as not to disrupt the MRT line when it is in operation,” the statement read.