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KLCC Holdings to proceed with projects, but mindful of 'commercial property market reality'

KUALA LUMPUR (June 21): KLCC (Holdings) Sdn Bhd will proceed with its property projects as planned but is mindful about the current soft market sentiment in the commercial property sector, according to group chief executive officer Datuk Hashim Wahir.

"We have to be a responsible developer. As the master developer of KLCC, we have to make sure KLCC is developed and at the same time be mindful of the market situation.

"The expression of concern regarding the oversupply of (commercial developments) is made clear and we as a business will have to make a decision

"We are mindful of the market but we will decide based on the commercial reality at this current time," he told reporters after the Council of Eminent Persons briefing today.

He was there to brief the council on KLCC's current projects and joint venture.

In April, KLCC's parent company, KLCCP Stapled Group (KLCCP), had inked a joint venture with a third party to develop its first transport oriented development.

The project will be a mixed development, comprising retail as well as office space and hotel. It is an expansionary programme for Suria KLCC, as the group will build a bridge linking Bukit Bintang to KLCC which is expected to be completed in 2022. — theedgemarkets.com

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