PETALING JAYA: Sunsuria Bhd (Sunsuria) has announced the completion of its acquisition of an additional 41% equity interest in KL City Gateway Sdn Bhd (KLCG), the developer of KL City Gateway, a 9.66-acre integrated, transit-oriented development in Kuala Lumpur.
Following the acquisition, Sunsuria has increased its shareholding from 20% to 61%. The RM21.46mil acquisition was undertaken through a Share Sale and Purchase Agreement (SSPA) with Suez Capital Sdn Bhd (Suez Capital) and other existing shareholders.
The KL City Gateway project involves the redevelopment of Kampung Sungai Baru in its first phase that has an estimated gross development value (GDV) of RM2.75bil. This phase comprises four development plots and a dedicated green space, bringing together commercial, residential and green spaces within a well-connected, pedestrian-friendly masterplan.
As part of the redevelopment, existing owners who opt for replacement residential units will be offered apartments with three-bedroom layouts. The development will feature comprehensive facilities and enhanced safety features to provide a high-quality living environment.
The development also includes a commercial component comprising 640 modern suites in two configurations of approximately 425 sq ft and 450 sq ft. The suites are intended to support short-term stays and business use. Registration of interest for the commercial component is currently open.
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