Eastern & Oriental Berhad and Majestic Gen join forces through a strategic joint venture to acquire a prime freehold site along Jalan Kia Peng. From left: Michael Tan, Director, Projects of Eastern & Oriental Berhad; Kok Tuck Cheong, Managing Director of Eastern & Oriental Berhad; Tan Wee Dher, Group Managing Director of Majestic Gen; and KeeJu-Hun, Executive Director of Majestic Gen.

Premier lifestyle property developer Eastern & Oriental Berhad (E&O) and Majestic Gen have announced the acquisition of a prime freehold site along Jalan Kia Peng, Kuala Lumpur, marking a significant step in their efforts to expand their premium residential development portfolios and reinforcing their long-term confidence in the capital's high-end property market.

The acquisition was carried out through KP Urban Sdn Bhd (KP Urban), a joint venture involving KCB Holdings Sdn Bhd (KCB), a wholly owned subsidiary of E&O, and Golden Urban Nite Sdn Bhd (GUN), an affiliated company of Majestic Gen. KCB holds a 66.67% equity interest in KP Urban, while GUN owns the remaining 33.33% stake.

Measuring approximately 5,682 square metres, the freehold site will be owned by KP Urban, which will also oversee its future development. The acquisition strengthens E&O's premium landbank in Kuala Lumpur while bringing together the complementary strengths and development expertise of both E&O and Majestic Gen to unlock the site's long-term potential.

Strategically located within the prestigious Jalan Kia Peng and KLCC precinct, the site enjoys excellent connectivity to some of Kuala Lumpur's most prominent lifestyle, commercial and entertainment destinations. It is situated opposite The RuMa Hotel & Residences and next to the Kuala Lumpur Convention Centre, with covered pedestrian walkways providing convenient access to Suria KLCC and Pavilion Kuala Lumpur.

Residents of the future development will also benefit from proximity to key public transportation and recreational facilities, including KLCC Park, Conlay MRT Station and Raja Chulan Monorail Station, all within walking distance. The strategic location is expected to further enhance the site's appeal as a premium urban residential address.

The proposed development is envisioned as a distinctive high-rise residential project that combines E&O's placemaking and design expertise with Majestic Gen's development capabilities. The partnership aims to create a thoughtfully designed urban address that delivers long-term value while complementing the character and prestige of the KLCC precinct.

E&O Managing Director Kok Tuck Cheong described the acquisition as an important milestone in the company's continued growth, noting that the Jalan Kia Peng site provides an opportunity to develop another landmark project that reflects the group's commitment to placemaking, design excellence and enduring value.

He added that the acquisition strengthens E&O's premium development portfolio across Malaysia, building on the encouraging performance of its Conlay development in Kuala Lumpur and the continued progress of its flagship Andaman Island project in Penang. The move also reflects the group's confidence in the long-term fundamentals of Kuala Lumpur's high-end residential market.

Majestic Gen Group Managing Director Ta Wee Dher said the Jalan Kia Peng site represents a rare freehold opportunity where location, connectivity and long-term relevance come together. He added that the partnership with E&O is driven by a shared commitment to taking a disciplined and long-term approach to developing a distinctive residential address within the KLCC precinct.

The acquisition forms part of E&O's broader growth strategy to strengthen its presence in Kuala Lumpur while continuing to advance its developments in Penang. Meanwhile, Majestic Gen's strong market response, including the 100% take-up achieved at Gen Sphere in Johor Bahru, reflects continued demand for well-designed homes in strategically located areas.

With sustained interest in premium residential properties in Kuala Lumpur's city centre, the Jalan Kia Peng development is expected to further strengthen the portfolios of both E&O and Majestic Gen. The partnership aims to deliver another signature residential address that reflects their confidence in Kuala Lumpur's future and the enduring appeal of prime urban living.