How Merdeka 118 took the StarProperty Iconic Development of the Year title

By Joseph Wong

When the curtains rose at the StarProperty Real Estate Developer Awards 2026, the presentation of the Iconic Development of the Year award felt less like a standard announcement and more like a historical crowning. The honour was bestowed upon Merdeka 118, the megatall masterpiece owned and built by PNB Merdeka Ventures Sdn Bhd (PNBMV), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB).

Standing as a staggering sentinel over Kuala Lumpur, Merdeka 118 transcends the boundaries of traditional real estate. It is not merely a collection of premium square footage. It is a profound intersection of Malaysia’s sovereign history, global architectural ambition and future-forward environmental stewardship, all while preserving its heritage as the iconic site where the nation proclaimed its independence. By seamlessly marrying the preservation of Stadium Merdeka and Stadium Negara with the cutting edge of modern engineering, PNBMV has delivered on its founding promise.

For a development to truly be deemed iconic, it must reshape a city's skyline while maintaining its cultural identity and Merdeka 118 achieves both effortlessly. While most global megatalls rely on abstract geometry, the architectural silhouette of Merdeka 118 is deeply narrative. 

Designed by Fender Katsalidis in collaboration with local architects, the tower’s form is a structural echo of Malaysia's defining historical moment. The off-centre spire and the angular, tapering massing of the building are modelled after the stature of Malaysia's founding father, Tunku Abdul Rahman, during the historic declaration of independence on August 31, 1957 when he raised his hand and chanted Merdeka seven times.

Complementing this powerful silhouette is a diamond-shaped glass facade. Comprising 18,452 panels and 114,000 sq m (1.22 million sq ft) of high-performance glass, the crystalline exterior mimics traditional Malaysian songket and batik patterns, symbolising the nation's rich cultural heritage. By night, the tower becomes a canvas of light, illuminated by 8.8km of dynamically programmed LED strips that sweep across its glass facets. It is an engineering marvel that converts a historical posture into a permanent landmark.

Blending commerce and culture

Incorporated in June 2000 to spearhead the 7.7-hectare (19-acre) precinct, PNBMV took on a role far greater than that of a commercial developer. It acted as the sole custodian of both Stadium Merdeka and Stadium Negara which are the twin cradles of Malaysian independence and sports heritage.

The grand vision for the RM5bil precinct was never to overshadow these historic spaces but to anchor them into a world-class integrated ecosystem. While the project faced early fiscal scepticism from critics advocating for alternative public spending, its long-term positioning serves as a monumental economic and cultural catalyst. By surrounding the precinct with four acres of meticulously landscaped linear and urban parks, the development creates an open-air public domain that physically bridges the historic open-air car parks of Jalan Hang Jebat with a multi-layered urban future.

Setting global and regional benchmarks

To win the StarProperty Iconic Development of the Year, a project must demonstrate undisputed market and engineering leadership. Merdeka 118 does so on a global stage:

• The world's second-tallest: Reaching an ultimate height of 678.9m (2,227 ft) above ground level, the structure stands second only to Dubai’s Burj Khalifa.
• A new regional peak: It is officially the tallest building in Southeast Asia, comfortably eclipsing regional heavyweights like Vietnam's Landmark 81 and Malaysia's own iconic Petronas Twin Towers.
• Unrivalled view: The tower features the highest observation deck in Southeast Asia, split between an interior viewing mezzanine and an elite observatory nestled safely within the spire.

A quadruple-platinum blueprint for sustainability

In today's real estate market, a building cannot be iconic without being responsible. Merdeka 118 stands as a vanguard for sustainable engineering, paving the way as the first mega-structure in Malaysia to target a quadruple-platinum rating across international and local green assessment bodies.

The tower’s environmental systems were optimised to meet the criteria for LEED Platinum, Green Building Index (GBI) Platinum and GreenRE Platinum certifications. Menara Merdeka 118 also received the Platinum WELL Core certification from the International WELL Building Institute, recognising the tower's vision to have excellent tenant experience, comfort and quality.

From its highly advanced water-harvesting mechanisms to energy-efficient HVAC configurations, the tower proves that ultra-high-density vertical architecture can drastically minimise its carbon footprint.

A worthy icon

Beyond its sheer verticality, the 40-acre precinct is designed as a fully integrated, mixed-use lifestyle ecosystem, with the tower housing approximately 3.2 million sq ft across its 118 storeys.

The tower functions as a self-sustaining vertical village. A total of 70% of its 84 corporate office floors serve as the unified headquarters for PNB and its subsidiaries, under a single roof. In addition, Maybank officially relocated its corporate head office to Menara Merdeka 118 earlier this year. The bank occupies 33 floors to house approximately 7,000 employees, with subsidiaries including Maybank Islamic and Maybank Investment Bank moving on a staggered basis. 

The hospitality component took centre stage with the opening of the Park Hyatt Kuala Lumpur. Occupying the upper tiers from levels 75 through 114, the hotel serves as an ultra-luxury home in the sky, integrating interior screens inspired by traditional kampung geometry and batik canting motifs. Beneath the corporate and hotel tiers sits the 118 Mall, a retail destination connected to the city via the Merdeka MRT Station on the Kajang Line. 

The station also provides connectivity to the LRT Ampang and Sri Petaling lines via the Plaza Rakyat LRT Station. The Maharajalela Monorail Station also offers convenient access to the Merdeka 118 precinct through the Look at 118 building and Merdeka Textile Museum. Together, these transport links reflect the precinct’s commitment to a more integrated urban experience.

Access is further augmented by the innovative Belfield Tunnel, a two-storey underground corridor passing underneath Kampung Attap to guide vehicles straight into the tower's 8,000-bay basement parking facility without congesting the historical surface roads. It is this meticulous attention to detail that shows why the first recipient of the StarProperty Iconic Development of the Year award represents the absolute zenith of what a developer can achieve. 

Merdeka 118 is not just a building but a global destination, a monument to Malaysian sovereignty and a sustainable beacon that will guide urban design for decades to come. It does more than dominate the horizon because it elevates the nation's pride.

Stay ahead of the crowd and enjoy fresh insights on real estate, property development and lifestyle trends when you subscribe to our newsletter and follow us on social media.