KLCC Property seeks anchor tenant an undeveloped land near KL City Centre
KUALA LUMPUR: KLCC Property Holdings Bhd (KLCCP) is in talks with several parties to secure an anchor tenant for Lot D1 by the end of the year.
Group chief executive officer Datuk Hashim Wahir said the group was “working hard” to achieve its goal. He, however, declined to provide details on the potential tenant.
“At the moment, we are targeting to secure the anchor tenant, and if we can get the final investment decision by the end of the year, then it would take approximately four years to complete the development,” he said after the group's AGM.
It had been earlier reported that KLCCP preferred multinationals as the anchor tenant of Lot D1, and that the KLCCP Stapled Group was capable of developing projects similar to Menara 3 Petronas.
Lot D1 is an undeveloped parcel of land located in the vicinity of the Kuala Lumpur City Centre, with about 1.4 million sq ft of gross floor area.
Hashim said the group was aiming for a 6% to 8% growth in its operating profit for financial year 2013 on the back of its completed corporate exercise of becoming a stapled securities as well as from a higher income contribution from its office segment.
“We are expecting a revenue contribution of more than 50% from the office segment in financial year 2013 from 44% in the last financial year,” he disclosed.
The growth would come from the group's recent acquisition of the remaining 49.5% shares in Midciti Resources Sdn Bhd, the owner of Petronas Twin Towers, from KLCC Holdings Bhd.
Despite the impending high supply of office space in the market, Hashim said the impact on the group would not be significant, underpinned by high occupancy rates for its commercial properties by “credible companies” and long-term tenancies.
“Our recent launch Menara 3 Petronas' 95% occupancy rate, the 100% occupancy of Menara Dayabumi, and ExxonMobil are here to stay,” he added.
He is optimistic that both office and retail segments would experience robust growth for the long term, as currently both segments contribute some 80% to its revenue.
However, it would be a challenging time for its hotel segment, as the market is getting more challenging with more hotels sprouting up around the area.
“The supply must be in tandem with the demand. Hence, we are working with the Tourism Ministry and Kuala Lumpur City Hall to attract more tourists into the country,” Hashim said.
He also noted that the group was always open to assets that fit its profile.
Source : The Star
Date : 27 June 2013
No comments:
Post a Comment