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PETALING JAYA (April 10): Sunsuria Bhd has completed its acquisition of an additional 41% equity interest in KL City Gateway Sdn Bhd (KLCG), raising its total shareholding from 20% to 61%, and consolidating KLCG as a subsidiary of the group.
Sunsuria first entered KLCG with a 20% stake in December 2024.
According to its statement, the RM21.46 million acquisition was undertaken through a share sale and purchase agreement with Suez Capital Sdn Bhd and other existing shareholders.
The remaining shareholders retain a collective 39% equity interest and continue as parties to the shareholders' agreement.
KLCG is undertaking KL City Gateway, a 9.66-acre integrated transit-oriented development located along Jalan Sungai Baru in Kampung Sungai Baru, Kuala Lumpur.
The first phase of the development carries an estimated gross development value (GDV) of approximately RM2.75 billion, comprising four development plots and a dedicated green space that integrates commercial, residential and public amenities within a pedestrian-friendly master plan.
The development is strategically positioned within KL city centre, in close proximity to the Petronas Twin Towers and within easy reach of the Saloma Link. It will also benefit from a planned direct ingress and egress from the Ampang-KL Elevated Highway (Akleh).
The commercial component comprises 640 modern suites across two configurations of approximately 425 sq ft and 450 sq ft, intended to support short-term stays and business use.
Registration of interest for the commercial component is currently open. Existing owners opting for replacement residential units will be offered three-bedroom apartments with comprehensive facilities.
With the consolidation of KLCG as a subsidiary, Sunsuria said it will take a more active role in the project's execution, with the development expected to contribute to the group's financial performance over the medium to long term.
Sunsuria is listed on Bursa Malaysia and is headquartered in Kota Damansara, Petaling Jaya. Its broader property portfolio includes Sunsuria City (525 acres, Sepang), Bangsar Hill Park, Sunsuria Forum @ 7th Avenue (Setia Alam), Sunsuria Kejora Business Park (60.8 acres, Bandar Puncak Alam), and Mullum Ringwood in Melbourne, Australia.
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