Office Segment to Remain Stable, says KLCCP

The KLCC Property Holdings Bhd says that office segment will remain stable, despite the anticipated challenging in year 2020.

KLCCP and KLCC Real Estate Investment Trust (KLCC REIT), collectively known as KLCCP Stapled security that invests, develops, owns and manages a portfolio of premium assets comprising office, retail and hotel properties in Kuala Lumpur.

Their portfolio worth RM 15.9 billion which comprises Petronas Twin Towers, Menara 3 Petronas, Menara ExxonMobil, Menara Dayabumi, Suria KLCC, the retail podium of Menara 3 Petronas, and Mandarin Oriental Kuala Lumpur.

During the three months movement control order (MCO), KLCCP’s net profit fell 3.8 per cent to RM 176.9 million year-on-year mainly due to the adverse impact in the hotel segment arising.

The retail segment may likely do better as it has the advantage of the latest offerings from the newly opened stores under the anchor-to-specialty reconfiguration exercise.

KLCCP said the group would continue to seek growth opportunities and explore innovative solutions to elevate the experience of its tenants, shoppers and hotel guests.



Source: New Straits Times