KUALA LUMPUR (July 18): KLCC (Holdings) Sdn Bhd has clarified today that it has not commenced construction on the mega project dubbed Tower M.

Instead, the ongoing works on Lot L, L1, M and N of the KLCC Precinct along Jalan Binjai are focussed on an integrated transport-oriented development.

This statement confirmed The Edge Weekly article which appeared on the issue dated July 16-22, 2018.

Tower M — the working name coined after Lot M, where the building will be erected — and any other future commercial construction plans on Lots L, L1 and N, are subject to pre-secured full tenancy.

“In view of the current market conditions, any such plan is unlikely to materialise before 2030,” KLCCH’s corporate communications, investor relations and business development department said in today’s statement to dispel talks that works on a mega tower has started.

The ongoing development comprises four levels of basement car parks, one level of concourse retail, as well as four levels of retail podium, the statement added.

The concourse and underground car park will be fully integrated with the upcoming MRT Station. The sub-structure works for the projects by KLCCH are in progress as planned, concurrently with the MRT Station works by MRT Corp, and scheduled for completion by end-2022.

The sub-structure includes construction of a foundation for any prospective buildings in the future, so as not to disrupt the MRT line when it is in operation.

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