MAJESTIC GEN EXPANDS WITH STRATEGIC LAND PURCHASE IN PENANG

PRESS RELEASE: MAJESTIC GEN EXPANDS WITH STRATEGIC LAND PURCHASE IN PENANG

Majestic Gen has reinforced its position in the Northern Region with the strategic acquisition of a prime freehold site along Jalan Anson in the heart of George Town. Purchased for RM75 million through Dynamic Gates Sdn Bhd (DGSB), a special purpose vehicle under Paramount Corporation Bhd’s earlier securitisation exercise, the acquisition marks a significant move for the group as it advances its presence in one of Penang’s most established cultural and educational districts.

The site comprises three adjoining parcels of freehold land with a combined gross floor area of approximately 295,508 square feet. It is currently under occupancy by UOW Malaysia KDU Penang University College.

The purchase price reflects a premium above the RM70 million valuation carried out on 13 November 2025, a sign of Majestic Gen’s confidence in the long-term potential of the location and the region.

A STEP FORWARD IN NORTHERN REGION GROWTH

The Jalan Anson acquisition marks a decisive move in Majestic Gen’s strategy to expand its presence in high-growth urban centres across the Northern Region. Penang continues to experience strong economic momentum, supported by its global reputation in technology, culture, tourism and education.

Set within one of Penang’s most established districts, Jalan Anson offers a rare blend of accessibility, mature amenities and proximity to key commercial, medical and cultural destinations. Securing this address positions Majestic Gen within a highly prized enclave and provides a strong foundation for a future high-rise development that contributes to the city’s ongoing transformation.

As Majestic Gen charts this direction forward, the group remains guided by its core values known as CHARM, which stand for being customer-centric, honest, ambitious, resourceful and magnificent. These values steer how the company selects land, understands community needs and plans developments with clarity, purpose and relevance.

“This acquisition represents an important step in our expansion in the Northern Region. Penang remains a resilient and forward-moving market, and strengthening our presence here aligns with our vision to build developments that carry meaningful value. We aim to create destinations that communities can trust for many years,” commented Datuk Hoo Kim See, Chief Executive Officer of Majestic Gen.

A SITE WITH ENDURING POTENTIAL

The Jalan Anson land sits within a connected district known for its educational institutions, cultural landmarks and long-established communities. Penang continues to gain momentum as a centre for technology, culture, tourism and education, and Jalan Anson remains one of its most sought-after addresses due to its accessibility and proximity to key commercial, medical and cultural destinations. Securing this site places Majestic Gen within a strategic enclave and provides a strong foundation for the company’s next phase of growth on the island.

“The Jalan Anson site offers a valuable foundation for our next phase of growth in Penang. Its location and surroundings carry strong potential. This acquisition allows us to plan with foresight while honouring the character of George Town. Our intention is to create a development that reflects the standards and values Majestic Gen upholds and one that will stand the test of time,” said Mr Ta Wee Dher, Executive Director of Majestic Gen.

A PROVEN RECORD IN PENANG

This acquisition follows the successful launch of Majestic Aman in July 2025, a thoughtfully envisioned freehold residential and commercial development in Taman Sungai Dua Utama.

Majestic Aman features 73 double-storey terrace homes and 23 two-storey shop offices, designed to support the needs of growing families and local businesses within a connected and community-focused environment.

Spanning 5.66 acres with a Gross Development Value of RM66.8 million, Majestic Aman is designed as a sanctuary for modern families to grow and thrive. The strong market response reflects Majestic Gen’s ability to understand community needs and deliver developments that align with the lifestyle of Penang residents.

Beyond residential and commercial offerings, Majestic Gen is also involved in Penang’s industrial growth through Suling Hill Development Sdn Bhd, its joint venture with AME Elite Consortium Berhad. The JV is the driving force behind Northern TechValley at BKE, a 176-acre integrated industrial park with a projected Gross Development Value of RM1.3 billion. Supported by recent financing and ongoing infrastructure upgrades, including enhanced access to the Butterworth Kulim Expressway, Northern TechValley reflects the group’s commitment to the region’s economic development.

Building on this momentum, the Jalan Anson acquisition marks the next step in strengthening the group’s presence in the Northern Region, especially as Majestic Gen expands its portfolio into thoughtfully planned high-rise developments. While discussions remain preliminary, the company’s focus is on creating a landmark project that brings together contemporary design, urban convenience and enduring community value.

Majestic Gen remains committed to contributing to Penang’s growth through developments shaped by clear vision, careful planning and community relevance.

For more information, log on to http://www.majesticgen.com.my.

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