Building on its TOD expertise, MRCB is broadening its property portfolio at home and abroad
MRCB Land’s recently launched LUNAR at 9 Seputeh brings Japanese-inspired residential living to Old Klang Road, combining homes with more than 40 lifestyle facilities and access to the development’s one-kilometre Promenade Boulevard. While the launch marks a new chapter for 9 Seputeh, MRCB’s wider property ambitions span a growing portfolio of developments, segments, and markets.
“Residential remains an important part of our business but our capabilities go well beyond that. We are building a more balanced property business around what we know well – transit-oriented developments (TODs), integrated developments and strategically located land – while expanding into new segments and markets where we see long term opportunities.
“We pioneered TOD in Malaysia through the Kuala Lumpur Sentral CBD, transforming a former railway yard into an integrated urban precinct anchored by the country’s largest transport hub. We have since taken that experience to Penang Sentral, PJ Sentral Garden City and Kwasa Sentral, and it continues to shape our next generation of developments,” said MRCB group chief operating officer Datuk Kwan Joon Hoe.
This early focus on TOD placed sustainability at the heart of MRCB’s development model. By bringing homes, workplaces and amenities closer to public transport, TODs encourage greater use of public transit and reduce reliance on private vehicles, helping to lower transport related carbon emissions. MRCB was also an early mover in green buildings in Malaysia, achieving its first international green building certification in 2009, well before green certified developments were widely adopted.
On the local front
In Penang, MRCB is advancing plans for the next phase of Penang Sentral which will include new retail and residential components. The upcoming Penang LRT Mutiara Line will connect directly to Penang Sentral, further strengthening its role as an integrated transport hub.
Launched last year, the 67-acre Ipoh Sentral has an estimated gross development value (GDV) of RM6.25bil and will be developed in phases over approximately 20 years. Phase 1 puts the community first, beginning with the enhancement of 6.31 acres of green space, including a new public recreational park and other public amenities.
“Our growth is not only about doing more residential or commercial developments. We are looking at how we diversify geographically and into new development segments where our capabilities can be applied. That includes data centres, industrial and logistics developments, co-living, healthcare and assisted living.
“In the industrial segment, for example, we developed and own the RM121.5mil built-to-suit Jabil production facility in Perlis, demonstrating our ability to deliver specialised facilities for global industrial clients,” Kwan said.
MRCB is also driving innovation in sustainable construction. At Kwasa Damansara City Centre, Tujuh Residences is MRCB’s first high-rise residential development using its proprietary MRCB Building System, a modular construction technology designed to build faster, safer and more sustainably, reducing waste, energy use and carbon emissions while improving quality and efficiency.
Beyond Malaysia’s shores
Internationally, the Property Development & Investment division is expanding through MRCB International. In Australia, VISTA in Surfers Paradise and MARIS in Southport have expanded its residential presence on the Gold Coast. In New Zealand, The Symphony Centre brings MRCB’s TOD and urban regeneration expertise to Auckland, with the mixed-use development planned directly above Te Waihorotiu Station on the City Rail Link.
“We are quite deliberate about where we go next. It is not about being in as many markets as possible but identifying where there is demand, what the location can support and where our experience can add value.
Building on our presence in Australia and New Zealand, we are now exploring opportunities in selected markets in the Middle East, Central Asia and the Maldives. “In Saudi Arabia, for example, we have signed an MoU with PIF-owned RUA AlHaram AlMakki Company to explore participation in the King Salman Gate development in Makkah where our TOD and integrated urban development experience can potentially be applied.
“As at the end of 2025, our Property Development & Investment business had approximately 1,228 acres of land with an estimated GDV of RM32.8bil, giving us a substantial pipeline for the future. Property is a long-term business, so we have to be disciplined about what we develop, where we invest and when we bring projects to market. LUNAR is one part of that journey. The opportunity is to build on our TOD pipeline, move into new development segments and grow internationally to create a stronger, more diversified Property Development & Investment business,” Kwan said.
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