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The three-tower project in the city is a long-term plan and its construction could only begin after 2030, says a report
PNB 118 (left), when it will be completed in 2024, should replace the Petronas. The twin towers are the highest in the country, but not for long.
KUALA LUMPUR: The owners of the Petronas Twin Towers in Kuala Lumpur are planning a new triple tour in the heart of the city, which could overshadow a 118-story office. building built by former Prime Minister Najib Razak in 2016, reports The Edge.
The new tower of KLCC (Holdings) Sdn Bhd, called "Tower M", is scheduled for the next 10-15 years, and will have 27 more floors than the 118 GNP built by the investment arm of the Permodalan Nasional Berhad government (PNB), and that has been criticized as wasteful by critics of Najib.
PNB 118, when it will be completed in 2024, will replace the Petronas towers as the tallest building in Malaysia.
But it would not be too long before it goes to Tower M.
The construction of a new sprawling complex is likely to add to an overabundance of offices in the city, a fear expressed by critics of mega skyscrapers in Kuala Lumpur.
The plan comes even as the Tun Razak Exchange, another project promoted by the previous government, takes shape, which includes a 106-storey building called Exchange 106.
A real estate consultant said that Tower M could add three at four million square feet of space to the real estate market, over 16 million square feet of Tun Razak Exchange offices.
"The feasibility of a megaproject such as Tower M may therefore have to take into account future market demand and supply to not end up as a white elephant," Adzman said. Shah Mohd Ariffin, quoted by EdgeProp, an information site on the property managed by The Edge.
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