KLCC Property Holdings (KLCCP) looks set to list its REIT as early as May 2013. This is according to the property group's CEO Hashim Wahir.

The KLCC REIT will be Malaysia's first Syariah-compliant stapled REIT in the country. 

However KLCCP has yet to secure an anchor tenant for its latest development in the KLCC area. This latest development is believed to be a commercial property development on a 0.6 hectare plot of land facing the Mandarin Oriental. The plot of land is currently known as Lot D1.

"It can be equivalent to Menara 3 Petronas, with one million sq ft of gross floor area," Mr. Hashim elaborated on the property development during the group's EGM. He further added that KLCCP is in talks with potential anchor tenants including multinational corporations but declined to reveal further details on who the parties in these talks are.

Besides the new development and the KLCC twin towers, other properties in the REIT include Menara 3 Petronas and Menara ExxonMobil.

Once the REIT comes online it will become one of Asia's largest listed groups with about S$6.2 billion in assets. The KLCC REIT will be formally known as the KLCC Stapled Group in line with an impending corporate corporate restructuring.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.