MUI Group

MAH SING Group Bhd has acquired a 1.485-acre freehold parcel in the heart of the Kuala Lumpur City Centre (KLCC) from The MUI Group for RM260 million, paving the way for a premium serviced apartment project with an estimated gross development value (GDV) of RM1.28 billion.

The land, currently housing the Corus KLCC Hotel along Jalan Ampang, is within walking distance of key city landmarks including the Petronas Twin Towers, Suria KLCC, and KLCC Park.

It will be redeveloped into a high-end residential development with units indicatively priced from RM898,000.

The deal forms part of MUI Group’s asset rationalisation strategy.

“It is the right time for our group to divest the hotel property as part of our rationalisation strategy. We have found Mah Sing the right organisation to lead the redevelopment of this project and to create an iconic, landmark project that will maximise the full potential of the land,” said MUI chairman and CEO Andrew Khoo in a statement today.

“In view of our long 40 years’ association with this property starting from Ming Court Hotel opening in 1984 and subsequent rebranding to Corus KLCC, we envisage that this redevelopment will enhance the KLCC skyline and add to the current vibrancy of this prestigious locality,” he added.

Mah Sing’s founder and group MD, Tan Sri Datuk Sri Leong Hoy Kum, said the acquisition fits the group’s urban development strategy.

“This acquisition aligns with our strategy of unlocking value in prime urban locations with strong demand fundamentals. More than just a redevelopment, it’s an opportunity to create a prestigious address in the heart of Kuala Lumpur. We are excited to reimagine this prime site into a landmark development that complements the KLCC skyline.

With its rare freehold status, unrivalled connectivity, and prime city-centre location, we believe the project will have strong international appeal and deliver long-term value to our homebuyers and stakeholders,” he said.

The redevelopment supports the goals outlined in the Kuala Lumpur Local Plan 2040 (KLLP-2040), which promotes compact, accessible, and liveable urban spaces.

Mah Sing also views the project as a contribution to the city’s broader urban renewal agenda.

“We see this as a key opportunity to contribute meaningfully to Kuala Lumpur’s ongoing urban evolution — not only through high-quality homes but also through the economic multiplier effect that vibrant, well-integrated developments bring,” said Leong.

This marks Mah Sing’s second land deal of the year, reinforcing its strategic push into high-demand urban locations. — TMR

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