PETALING JAYA: Developer Eastern and Oriental Bhd (E&O) and Majestic Gen Sdn Bhd (Majestic Gen) have announced the proposed acquisition of a prime freehold site along Jalan Kia Peng, underscoring E&O's long-term confidence in Kuala Lumpur'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, an affiliated company of Majestic Gen Sdn Bhd, with the remaining 33.33% equity interest.
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 and 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 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," said E&O managing director Kok Tuck Cheong.
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.
“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. Majestic Gen is proud to work with E&O to create a distinctive residential address for the KLCC precinct,” said Majestic Gen group managing director Ta Wee Dher.
Also present were E&O project director Michael Tan and Majestic Gen executive director Kee Ju-Hun.
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