Permodalan Nasional Berhad (PNB) is confident that its PNB118 Tower will not cause a glut in office space in Kuala Lumpur when it is completed, as there will be sufficient demand in the future.

PNB president Abdul Wahid Omar said although there are already many skyscrapers in Kuala Lumpur, the new tower would not add much to it as the area available for lease is "not a very big area".

"We do have our own group of companies that have taken about 60 floors. And then we have about 20 (floors) reserved for the hotel. The balance of about 20 percent will be open for leasing [...] That is less than half a million square feet, so it is actually not a very big area.

"So we believe there will be enough attraction, enough demand, for such a high-quality building with the address," he said...