Mah Sing Secures Prime Land for High-End Urban Living
Mah Sing Group has successfully acquired a prime 1.485-acre freehold land parcel in the highly sought-after Kuala Lumpur City Centre (KLCC) precinct for RM260 million from the MUI Group. This strategic acquisition is set to become the site of a new premium serviced apartment project, a pivotal move for the company to expand its portfolio of high-end urban developments. The location itself holds immense value, currently hosting the Corus KLCC hotel, and its exceptional proximity to iconic landmarks like the Petronas Twin Towers and the Suria KLCC shopping mall, both of which are within a convenient five-minute walk, makes it a rare and valuable asset in a densely developed urban core. This freehold status in such a prestigious area further enhances its appeal and sets the stage for a landmark project that will capitalize on the strong and sustained demand for high-end residential properties in Kuala Lumpur’s bustling central business district, attracting both local and international investors seeking a prestigious address.
A Billion-Ringgit Vision for a New Landmark
The new development has an estimated gross development value (GDV) of a remarkable RM1.28 billion, reflecting the scale and ambition of the project. The units are indicatively priced starting from RM898,000, positioning the development to appeal to a broad range of affluent buyers. According to Mah Sing’s founder, Tan Sri Leong Hoy Kum, this strategic acquisition is a key component of the company’s broader strategy to leverage prime urban locations with a proven track record of strong demand. He believes that the project’s rare freehold status and excellent connectivity to major transportation hubs and a myriad of amenities will be highly appealing to discerning buyers seeking a blend of luxury, convenience, and long-term investment value. This is a crucial step in the company’s commitment to creating high-value urban properties that not only meet market demand but also contribute to the city’s evolving skyline and prestige.
Catalyzing Urban Regeneration and Economic Growth
This land acquisition marks Mah Sing’s second significant land deal of the year, underscoring its proactive commitment to urban regeneration by transforming legacy properties into modern, high-value assets. The redevelopment of the Corus Hotel site is expected to significantly stimulate the local economy by creating a substantial number of job opportunities both during the construction phase and after its completion, providing a much-needed boost to employment in the area. Furthermore, the influx of new residents and guests to the premium serviced apartments will contribute to the vibrancy of the surrounding area, boosting business for retail, dining, and other commercial services in the KLCC precinct. This project therefore, represents more than just a real estate venture; it is an investment in the rejuvenation and economic vitality of one of Kuala Lumpur’s most prestigious areas, demonstrating Mah Sing’s long-term vision for sustainable growth and community development.
