Premier lifestyle property developer Eastern & Oriental Berhad (“E&O” or “the Group”) and Majestic Gen Sdn Bhd (“Majestic Gen” or “Majestic Gen Group”) today announced the proposed acquisition of a prime freehold site along Jalan Kia Peng (“Acquisition”), underscoring E&O’s long-term confidence in Kuala Lumpur’s premium residential market.
The Acquisition will be undertaken through KP Urban Sdn Bhd (“KP Urban”), which is jointly owned by KCB Holdings Sdn Bhd (“KCB”), a wholly-owned subsidiary of E&O, with a 66.67% equity interest, and Golden Urban Nite Sdn Bhd (“GUN”), an affiliated company of Majestic Gen Sdn Bhd, with the remaining 33.33% equity interest.
The Acquisition strengthens E&O’s premium development landbank in Kuala Lumpur while drawing on the complementary strengths of E&O and Majestic Gen to realise the site’s long-term potential. Upon completion of the Acquisition, KP Urban will become the registered proprietor of the approximately 5,682square-metres freehold site and undertake its future development.
Occupying one of Kuala Lumpur’s most prestigious addresses within the Jalan Kia Peng and KLCC precinct, the site enjoys exceptional connectivity and accessibility. Located opposite The RuMa Hotel & Residences and adjacent to the Kuala Lumpur Convention Centre, it is seamlessly connected to Suria KLCC and Pavilion Kuala Lumpur via covered pedestrian walkways, while KLCC Park, Conlay MRT Station and Raja Chulan Monorail Station are all within walking distance.
The site is envisioned as a distinctive high-rise residential development that combines E&O’s placemaking expertise with Majestic Gen’s development capabilities to create a premium urban address with enduring value.
Commenting on the Acquisition, E&O Managing Director Kok Tuck Cheong said:
“The Acquisition represents an important milestone in E&O’s continued growth journey. Jalan Kia Peng is one of Kuala Lumpur’s most established and desirable addresses, and securing this prime freehold site allows us to create another thoughtfully designed development that reflects E&O’s commitment to placemaking, design excellence and enduring value.”
He added “Building on the encouraging performance of Conlay and the continued momentum of our flagship Andaman Island development in Penang, this Acquisition will further strengthen E&O’s premium development portfolio across Malaysia’s residential markets. More importantly, it reinforces our confidence in the long-term fundamentals of Kuala Lumpur’s high-end residential sector and our ability to create sustainable value for our shareholders.”
Ta Wee Dher, Group Managing Director of Majestic Gen, added:
“Jalan Kia Peng is a rare freehold address where scarcity, connectivity and long-term relevance align. The Acquisition reflects our shared confidence in the enduring appeal of this location and provides the foundation for a disciplined, long-term development approach. Through GUN, Majestic Gen is proud to work with E&O to create a distinctive residential address for the KLCC precinct.”
The Acquisition reinforces E&O’s long-term growth strategy by strengthening its presence in Kuala Lumpur while complementing the continued success of its flagship Andaman Island development in Penang.
The strong market reception for Conlay underscores sustained demand for thoughtfully designed homes in Kuala Lumpur’s city centre. Building on this momentum, E&O and Majestic Gen envision Jalan Kia Peng as another signature address that reflects their shared confidence in the city’s future and further enhances E&O’s portfolio of premium lifestyle developments.
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