KLCC Property Holdings
A Malaysian property investment group associated with Petronas and anchored by major office, retail and hotel assets in Kuala Lumpur City Centre.
Last updated August 21, 2026
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Overview
KLCC Property Holdings Berhad, commonly known as KLCCP, is a Malaysian property investment company associated with Petroliam Nasional Berhad (Petronas), Malaysia's national oil company. Its portfolio is concentrated in the Kuala Lumpur City Centre district, one of the country's most prominent commercial, retail and tourism locations. The company's assets and managed properties include the Petronas Twin Towers, Suria KLCC, the Mandarin Oriental Kuala Lumpur, Menara Maxis, Petronas Tower 3, Menara ExxonMobil and the Dayabumi Complex. KLCCP was incorporated in 2004 as a vehicle through which part of Petronas's property holdings could be offered to public investors. Petronas sold a 46% interest in KLCCP during an initial public offering in the same year. The structure was subsequently reorganized in 2013, when three major office properties—the Petronas Twin Towers, Petronas Tower 3 and Menara ExxonMobil—were transferred to the newly created KLCC Real Estate Investment Trust, or KLCC REIT. KLCCP shares were then stapled to KLCC REIT units, creating the KLCCP Stapled Group. The stapled structure combines KLCCP's property investment and hotel-related activities with the rental-property portfolio of KLCC REIT. The securities are listed on the Main Market of Bursa Malaysia Securities Berhad, while KLCC REIT is managed by KLCC REIT Management Sdn Bhd, a wholly owned subsidiary of KLCCP. The REIT structure is described as Sharia-compliant and was intended in part to benefit from the tax treatment available to Malaysian real estate investment trusts. The group operates across four principal areas: office property investment, retail property investment, hotel operations and management services. The REIT portfolio consists of the Petronas Twin Towers, Petronas Tower 3 and Menara ExxonMobil, with a combined net lettable area of approximately 4.5 million square feet according to the referenced company information. Other interests include a 60% stake in Suria KLCC, a 75% interest in the Mandarin Oriental Kuala Lumpur and a 33% interest in Menara Maxis. KLCCP's business model is based on owning, managing and extracting recurring income from premium real estate rather than operating as a broad geographic property developer. Its concentration in the KLCC district gives the group exposure to high-value office leasing, destination retail, hospitality and integrated urban development. The group also has a right of first refusal over future developments by KLCC Holdings Sdn Bhd, Petronas's wholly owned property development subsidiary. Referenced development plans have included projects around the KLCC area and possible redevelopment near the Dayabumi Complex. Because the supplied reference material primarily describes the group through its historical corporate structure and portfolio, current operating figures, leadership and later developments are not stated here.
History
KLCC Property Holdings emerged from Petronas's effort to place part of its strategically important Kuala Lumpur property portfolio within a publicly investable company. Incorporated in 2004, KLCCP served as a property investment vehicle linked to the Kuala Lumpur City Centre development. Its initial public offering included the sale of a 46% interest by Petronas and represented one of Malaysia's significant offerings of that year. The company's investment proposition was based on premium commercial real estate in a landmark urban district rather than on a geographically diversified development platform. The portfolio was built around several high-profile assets. The Petronas Twin Towers formed the central office-property holding and were internationally recognized as the world's tallest buildings from 1998 until 2004. The wider portfolio also included major retail and hospitality interests, including Suria KLCC and the Mandarin Oriental Kuala Lumpur, as well as interests in Menara Maxis, the Dayabumi Complex and other office properties. These assets gave the company exposure to multiple sources of property income: office rents, retail sales-linked occupancy and leases, hotel operations, and management fees. A major structural change took place in 2013. KLCCP transferred the Petronas Twin Towers, Petronas Tower 3 and Menara ExxonMobil into a newly established real estate investment trust, KLCC REIT. The shares of KLCCP were then stapled to KLCC REIT units at a ratio of one KLCCP share for every 1.8 million KLCC REIT units, according to the referenced account. The combined securities were relisted on the Main Market of Bursa Malaysia Securities Berhad in May 2013. KLCC REIT Management Sdn Bhd, a wholly owned subsidiary of KLCCP, manages the REIT. The restructuring placed the group's principal rental-generating office assets inside a REIT while retaining KLCCP as the corporate and operating component of the wider group. The stated rationale included taking advantage of the income-tax treatment available to Malaysian REIT earnings. The resulting KLCCP Stapled Group combined property investment, retail, hotel and management activities and was described in the supplied reference material as Sharia-compliant. The REIT portfolio had a combined net lettable area of approximately 4.5 million square feet. The group's ownership and development relationships remained closely connected to Petronas. Petronas held approximately 75% of the stapled group through direct and indirect interests. KLCCP also had a right of first refusal over future developments undertaken by KLCC Holdings Sdn Bhd, Petronas's wholly owned property development subsidiary. This arrangement linked the listed investment group to the continuing development of the KLCC district while giving it potential access to additional prime assets. The referenced development pipeline included an office building and Fairmont hotel project at Lot 185 with Qatari Diar REIT, an office building at Lot 91 with Sapura Resources Berhad, and proposed redevelopment around the Dayabumi Complex. One described concept for the Dayabumi area involved a 60-storey mixed hotel, office and retail building. The supplied material does not establish whether all of these proposals were completed, nor does it provide current information on the group's management, financial performance or portfolio after the cited historical period. Accordingly, the group's documented identity is best understood as a Petronas-linked, Kuala Lumpur-focused listed property investment and stapled REIT platform.
- 2015
Group net asset value is reported at RM12 billion
[1]The referenced material reported a RM12 billion net asset value for the KLCCP Stapled Group in June 2015.
- 2013
KLCC REIT and the stapled group are established
[1]Three prime office properties were transferred to the newly formed KLCC REIT, and KLCCP shares were stapled to REIT units.
- 2013
Stapled securities are relisted on Bursa Malaysia
[1]The KLCCP and KLCC REIT stapled securities were relisted on the Main Market of Bursa Malaysia Securities in May 2013.
- 2004
KLCC Property Holdings is incorporated
[1]KLCCP was incorporated as a vehicle for offering part of Petronas's property holdings to public investors.
- 2004
Petronas sells a 46% interest through an initial public offering
[1]Petronas sold a 46% interest in KLCCP in an initial public offering described as one of Malaysia's largest offerings that year.
- 1998
Petronas Twin Towers become the world's tallest buildings
[1]The Petronas Twin Towers, later associated with the KLCCP and KLCC REIT portfolio, became the world's tallest buildings, a distinction they held until 2004.
Products and positioning
Premium, centrally located Malaysian commercial-property investment focused on landmark office, retail and hospitality assets in and around Kuala Lumpur City Centre.
Office property
Petronas Twin Towers
The Petronas Twin Towers are the signature office assets associated with the KLCCP Stapled Group. The twin skyscrapers form the central landmark of Kuala Lumpur City Centre and were transferred into KLCC REIT during the 2013 restructuring. Their importance to the group comes from their premium location, architectural profile and role within the integrated KLCC commercial and visitor environment.
Office property
Petronas Tower 3
Petronas Tower 3 is a prime Kuala Lumpur office property placed in KLCC REIT as part of the 2013 corporate restructuring. Together with the Petronas Twin Towers and Menara ExxonMobil, it forms the REIT's principal office portfolio and contributes recurring rental income from a major central business district location.
Office property
Menara ExxonMobil
Menara ExxonMobil is a landmark office building in the KLCC area and one of the three properties transferred into KLCC REIT in 2013. It represents the group's focus on institutional-grade commercial buildings with established corporate tenancy and a strategic location within Kuala Lumpur's primary business district.
Retail property
Suria KLCC
Suria KLCC is a major shopping centre integrated into the Kuala Lumpur City Centre complex. KLCCP holds a 60% interest according to the referenced material. The centre complements the group's office and tourism assets by providing destination retail, dining and visitor-oriented commercial space in the same high-profile district.
Hotel
Mandarin Oriental Kuala Lumpur
The Mandarin Oriental Kuala Lumpur is the group's principal identified hotel interest, with KLCCP reported to hold a 75% stake. Its position beside the KLCC complex gives the portfolio hospitality exposure linked to corporate travel, tourism and high-end events, complementing the group's office and retail investment activities.
Office property
Menara Maxis
Menara Maxis is a KLCC-area office property in which KLCCP holds a 33% interest. It extends the group's exposure beyond the properties held through KLCC REIT and reinforces its concentration in premium commercial real estate located around Kuala Lumpur City Centre.
Mixed-use property
Dayabumi Complex
The Dayabumi Complex on Jalan Sultan Hishamuddin is one of the other properties associated with KLCCP. The referenced material also describes plans to redevelop the surrounding area, potentially adding a tall mixed hotel, office and retail building. The completion status of those plans is not established by the supplied sources.
Brand decisions
2013
Transfer of landmark offices into KLCC REITStrategyBackground
KLCCP sought to reorganize its property holdings and create a listed structure combining a corporate property vehicle with a real estate investment trust.
Action taken
The Petronas Twin Towers, Petronas Tower 3 and Menara ExxonMobil were injected into KLCC REIT. KLCCP shares were stapled to KLCC REIT units at one share for every 1.8 million units, and the combined securities were relisted in May 2013.
Aftermath
The restructuring created the KLCCP Stapled Group, combining KLCCP's property, hotel and management activities with the REIT's rental-property portfolio. The cited rationale included access to Malaysian REIT tax treatment.
- Right of first refusal over future KLCC developmentsStrategy
Background
The group is linked to KLCC Holdings, Petronas's wholly owned property development subsidiary, and has access to a pipeline of potential developments in the KLCC district.
Action taken
KLCCP Stapled Group was given a first right of refusal to acquire future developments by KLCC Holdings.
Aftermath
The arrangement connected the listed property investment group to future prime-area development opportunities, although the supplied material does not confirm which proposed projects were ultimately completed.
Recent events
- 2015
KLCCP Stapled Group reports a RM12 billion net asset value[1]
Other
The referenced material identified the KLCCP Stapled Group as Malaysia's largest REIT at that time and reported a net asset value of RM12 billion in June 2015.
- 2013
KLCCP creates a stapled structure with KLCC REIT[1]
Other
A corporate restructuring transferred three major office properties to KLCC REIT and stapled KLCCP shares to REIT units. The securities were relisted on Bursa Malaysia's Main Market in May 2013.
- 2004
KLCC Property Holdings is incorporated as a public-investment vehicle[1]
M&A · Other
KLCCP was incorporated to offer public investors exposure to part of Petronas's property holdings. Petronas sold a 46% interest in the company through an initial public offering.
Sources2 sources
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