E&O AND MAJESTIC GEN SECURE PRIME FREEHOLD JALAN KIA PENG SITE FOR RESIDENTIAL DEVELOPMENT
Premier lifestyle property developer Eastern & Oriental Berhad (“E&O” or “the Group”) and Majestic Gen today announced the acquisition of a prime freehold site along Jalan Kia Peng, underscoring their shared long-term confidence in Kuala Lumpur’s premium residential market.
The acquisition was undertaken by KCB Holdings Sdn Bhd (“KCB”), a wholly-owned subsidiary of E&O, and Golden Urban Nite Sdn Bhd (“GUN”), an affiliated company of Majestic Gen, through KP Urban Sdn Bhd (“KP Urban”), in which KCB holds a 66.67% equity interest, and GUN holds the remaining 33.33%.
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. KP Urban will become the registered owner of the approximately 5,682-square-metre 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:
“This 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 further strengthens 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. This acquisition is built on a shared conviction that a location of this stature deserves a disciplined, long-term development approach. Through GUN, Majestic Gen is proud to work with E&O to shape 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 advancement of Andaman Island in Penang. Majestic Gen’s 100% take-up at Gen Sphere in Johor Bahru reflects the continuing appetite for thoughtfully designed homes in prime locations that underpins the partnership.
The strong market reception for Conlay underscores sustained demand for thoughtfully designed homes in Kuala Lumpur’s city centre. Building on the momentum across both partners’ portfolios, E&O and Majestic Gen envision the Jalan Kia Peng development as another signature address that reflects their shared confidence in the city’s future and further strengthens their respective premium development portfolios.
(From left to right):
1. Michael Tan, Director, Projects of Eastern & Oriental Berhad
2. Kok Tuck Cheong, Managing Director of Eastern & Oriental Berhad
3. Ta Wee Dher, Group Managing Director of Majestic Gen
4. Kee Ju-Hun, Executive Director of Majestic Gen
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