KUALA LUMPUR: Sunsuria Bhd
now holds a majority 61% stake in KL City Gateway Sdn Bhd after successfully acquiring an additional 41% equity in the mixed-use Sungai Baru redevelopment project.
Sunsuria, which had entered the project via a 20% equity purchase in December 2024, acquired the additional shares from Suez Capital Sdn Bhd and other shareholders for RM21.46mil.
KL City Gateway is a 9.66-acre integrated, transit-oriented development in the heart of KL. Its first phase has an estimated gross development value of RM2.75bil.
"This phase comprises four development plots and a dedicated green space, bringing together commercial, residential and green spaces within a well-connected, pedestrian-friendly masterplan. KL City Gateway represents one of the few large-scale integrated developments within the city centre," said Sunsuria in a statement issued today.
The group said the completion of the acquisitions enables it to consolidate KL City Gateway as a subsidiary and take a more active role in the project’s execution.
"The project is expected to contribute to the group’s performance over the medium to long term, in line with its overall development timeline."
