KUALA LUMPUR: The outlook of the local property market is still “encouraging” despite the ongoing tensions in the Middle East, and could even be bolstered by Malaysia’s image as a safe investment destination, says group chief executive of GD Properties Ng Khoon Haur.
He said through the developer’s business connections with exclusive agencies, the feedback the company has received shows that investors in the Middle East have turned their attention back to East Asia because of the conflict in Iran.
“Primarily, investors are staying away from Dubai, and there is a positive incoming trend that we are getting from the development and retail segments of the market. The external geopolitical tension has resulted in investors seeing Malaysia and China as safe havens in Asia, as was also reported by JPMorgan recently,” he pointed out, adding that his company is cooperating with several top properties agencies to market its new developments.
Ng was speaking at the launch of the KL360@Menara GD (KL360), a RM1.37bil gross development value mixed development project in the Kuala Lumpur central business district (CBD), adjacent to the Raja Uda Mass Rapid Transit station.
The 61-storey project is positioned as a lifestyle-oriented development that combines residential, commercial and tourism elements, with Ng adding that it is envisioned as an architectural and tourism landmark, comparable to some of Kuala Lumpur’s most recognisable structures.
KL360 will comprise 785 serviced apartments, 221 office suites and 20 retail units, alongside a range of facilities aimed at enhancing its lifestyle appeal.
Among its key features are elevated attractions such as a 25,000 sq ft 360-degree skydeck, a sky restaurant and retail space, a 60-metre cliff pool, a sky walk, and what the developer described as Malaysia’s longest glass “sky slides”. Construction is expected to begin in the second half of 2026, with completion targeted for 2030.
In conjunction with the launch, GD Properties also formalised a strategic financing partnership with Bank Rakyat, which will play a key role in funding the project.
Additional collaborations were signed with several partners, including China State Construction Engineering (M) Sdn Bhd as the main development partner, as well as hospitality and lifestyle operators such as Yicheng Hotel Management, Bridgmen Solutions, GD Wealth Assets, and Chim Dining.
Notably, Ng said the KL360 was an abandoned project, explaining that Nilai-based GD Properties is looking to expand its footprint further into the capital.
