Mah Sing acquires Corus Hotel site for RM260m, plans KLCC serviced apartments with RM1.28b GDV

• Mah Sing said the 1.485-acre freehold parcel offers “unmatched accessibility and connectivity” and “within walking distance to landmarks such as Petronas Twin Towers, KLCC Park, Intermark Mall, The Linc KL, and Pavilion Kuala Lumpur and directly linked to major public transport hubs such as the Ampang Park Interchange (MRT and LRT), KLCC Station, and the underground station connected directly to Suria KLCC Mall”.    

KUALA LUMPUR (Aug 7): MUI Group and Mah Sing Group Bhd have inked a strategic agreement which saw the MUI Group divesting its prime 1.485-acre freehold parcel of land in the heart of KLCC precinct.

The strategically located land, housing Corus KLCC hotel and within five minutes’ walking distance of the iconic Petronas Twin Towers and Suria KLCC, was transacted at RM260 million.

The prime freehold parcel will be redeveloped into a premium freehold serviced apartment project with an estimated Gross Development Value (GDV) of RM1.28 billion. Units are indicatively priced from RM898,000.  

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According to a media release by Mah Sing, the site offers “unmatched accessibility and connectivity” and “within walking distance to landmarks such as Petronas Twin Towers, KLCC Park, Intermark Mall, The Linc KL, and Pavilion Kuala Lumpur and directly linked to major public transport hubs such as the Ampang Park Interchange (MRT and LRT), KLCC Station, and the underground station connected directly to Suria KLCC Mall”.    

It also has pedestrian connectivity via covered walkways, linked to Suria KLCC, KLCC Park, and Bukit Bintang.

“It also benefits from strong accessibility via both public and private transport, and is located within a designated Transit Planning Zone (TPZ),” added Mah Sing.

Attending the signing ceremony were Mah Sing CEO, property subsidiaries, Yeoh Chee Beng; Mui Group senior vice president, Ong Hung Ming; Mah Sing founder and group managing director, Tan Sri Sri Leong Hoy Kum; and MUI Group’s chairman and CEO Andrew Khoo.

“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,” said Leong.

“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 re development of this project and to create an iconic, landmark project that will maximise the full potential of the land,” said Khoo.

“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,” added Khoo.

The land, currently occupied by the Corus Hotel along Jalan Ampang, will undergo a transformative redevelopment as part of Mah Sing’s urban regeneration.

“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,” added Leong.

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