Business
KLCC Property denies bidding for office tower in Dubai
KLCC Property Holdings Bhd (KLCCP) refuted claims of bidding for a stake in Dubai’s ICD Brookfield Place.
The denial comes in response to a report suggesting KLCCP and China Investment Corp were potential bidders for the office tower stake.
MALAYSIA: KLCC Property Holdings Bhd (KLCCP) has denied it is bidding for a stake in ICD Brookfield Place, a 900ft office tower in the heart of Dubai’s financial district.
According to EdgeProp, KLCCP was responding to a Bloomberg report on 2 Aug, quoting people with knowledge of the matter, that KLCCP, along with China Investment Corp, are among potential bidders for a stake in the office tower.
Bloomberg reported that the proprietors of ICD Brookfield Place, namely Brookfield Asset Management and the state-owned Investment Corp of Dubai, are contemplating the divestiture of up to 49% ownership in the office complex.
Noteworthy tenants within the tower encompass esteemed institutions such as JPMorgan Chase & Co and Bank of America Corp.
“KLCCP wishes to deny the speculation. KLCCP is not a potential bidder as reported,” said the group in a filing with Bursa Malaysia on Tuesday (8 Aug).
At 5 pm of Wednesday, KLCCP, which is part of the KLCCP Stapled Group together with KLCC Real Estate Investment Trust, saw its stock traded at RM6.76, down 1 sen or 0.15%, giving the group a market capitalisation of RM12.2 billion.
-
Crime1 week ago
Yakult delivery woman dies after assault in Sengkang; suspect faces multiple charges
-
International1 week ago
German intellectuals demand cessation of government support for Palestinian genocide
-
Politics2 days ago
Lee Hsien Loong to step down as PAP secretary-general after 20 years of leadership
-
International7 days ago
Pope Francis calls for investigation into genocide in Gaza
-
Economics1 week ago
Singapore offers to host Apec summit in 2030 to support inclusive growth
-
Singapore2 weeks ago
Woman jaywalking while using phone hit by taxi near Dhoby Ghaut MRT
-
Labour1 week ago
Singapore launches Overseas Markets Immersion Programme to boost workforce internationalisation
-
Parliament2 weeks ago
Singapore reaffirms commitment to humanitarian aid in Gaza despite Israel’s ban on UNRWA operations