KUALA LUMPUR, July 19 — The company that owns the iconic Petronas Twin Towers has clarified that it is not currently building a new skyscraper, but is instead constructing a parking and retail space to be integrated with an upcoming train station on the Mass Rapid Transit (MRT) 2 line.

Responding to a news report of a purported 145-storey "Tower M”, KLCC (Holdings) Sdn Bhd (KLCCH) was reported saying by The Star that "no such construction is currently taking place”.

Over the weekend, business weekly The Edge reported that a new 700 metre-tall office tower dubbed "Tower M” was planned within the existing Kuala Lumpur City Centre (KLCC) area and slated for construction after 2030, with industry estimates of gross development value in the range of RM3.7 billion to RM4.2 billion.

Citing Skyscraper Centre’s data, The Edge had said that the 88-storey Petronas Twin Towers at 451.9 metres is still the country’s tallest tower, which is set to be overtaken by upcoming projects Exchange 106 (492 metres, 106 floors) and Menara PNB 118 at 630 metres.

The Star today reported KLCCH as saying that the ongoing construction on four lots of land (L, L1, M and N) were for an integrated transport-oriented development featuring a four-level basement carpark, one level of concourse retail and four levels of retail podium.

Both the basement and concourse levels will be fully integrated with the upcoming MRT station, with the KLCCH projects’ substructure works progressing as planned and scheduled to be done by the end of 2022.

KLCCH’s substructure works will include the foundation for any possible future buildings to avoid disrupting the operations of the MRT line when it starts operating, but the company also said any further constructions is unlikely before 2030.

"Any future commercial, construction plans on the lots in question are subject to pre-secured full tenancy, as KLCCH is not a speculative developer.

"In view of the current market conditions, any such plan is unlikely to materialise before 2030,” the company said.

The Edge’s report had quoted a KLCCH spokesman as saying that the full development of the four lots of land envisages three commercial towers above podium, but with such towers to only be built after full tenancy has first been secured and expected to only be built "in the distant future (beyond 2030)” owing to the current market situation.