PETALING JAYA: Premier lifestyle property developer Eastern & Oriental Bhd (E&O) and Majestic Gen Sdn Bhd have proposed to acquire a prime freehold site along Jalan Kia Peng in Kuala Lumpur, underscoring E&O’s long-term confidence in the city’s premium residential market.
The acquisition will be undertaken through KP Urban Sdn Bhd, which is jointly owned by KCB Holdings Sdn Bhd, 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 will strengthen 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 about 5,682 square metre freehold site and undertake its future development.
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.
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.”
Majestic Gen group managing director Ta Wee Dher said, “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.”
E&O said the acquisition reinforces its long-term growth strategy by strengthening its presence in Kuala Lumpur while complementing the continued success of its flagship Andaman Island development in Penang.
