PETALING JAYA: Mah Sing Group Bhd
has acquired 1.485-acres of freehold land in the heart of the KLCC precinct from the MUI Group for RM260mil.
In a statement, Mah Sing said the strategically located land houses the Corus KLCC hotel and is within five minutes’ walking distance from the PETRONAS Twin Towers and Suria KLCC.
Mah Sing said the land will be redeveloped into a premium freehold serviced apartment project with an estimated gross development value of RM1.28bil. Units are indicatively priced from RM898,000.
Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said the acquisition aligns with the group’s strategy of unlocking value in prime urban locations with strong demand fundamentals. “More than just a redevelopment, it’s an opportunity to create a prestigious address in the heart of Kuala Lumpur. We are excited to reimagine this prime site into a landmark development that complements the KLCC skyline.
“With its rare freehold status, unrivalled connectivity, and prime city-centre location, we believe the project will have strong international appeal and deliver long-term value to our homebuyers and stakeholders.” The acquisition marks Mah Sing’s second land acquisition of the year, reinforcing the group’s strategy of unlocking value from prime urban locations with strong demand fundamentals.
The land, currently occupied by the Corus Hotel along Jalan Ampang, will undergo a transformative redevelopment as part of Mah Sing’s vision for urban regeneration. “This initiative aims to breathe new life into a legacy property, create job opportunities during and after construction, and stimulate the local economy through increased footfall, tourism, and commercial activity.
“The influx of residents and guests to the area will contribute to the vibrancy of surrounding retail, food and beverage, wellness and professional services,” said Mah Sing.
