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KUALA LUMPUR (May 1): Negeri Sembilan-based property developer GD Properties on Thursday officially launched KL360, a mixed-use development with a gross development value (GDV) of RM1.37 billion. The project was previously an abandoned development called M101 Skywheel.
Located at Jalan Tun Razak here, M101 Skywheel was supposed to be a 78-storey twin-tower project featuring a ferris wheel on the 52nd floor. The project, which was launched in 2017 by M101 Holdings Sdn Bhd, stopped work in 2022/2023. It had a GDV of RM1.5 billion.
At the official launch event on Thursday, GD Properties group CEO Ng Khoon Haur said GD Properties acquired the abandoned project two years ago and revised the design. It is also the company’s first venture into the Klang Valley market.
“The original design scheme was too ambitious and it wasn't going to be feasible. So we worked together with Veritas Design Group [architecture firm] to cut the number of floors,” he told the press.
Renamed as KL360, the 61-storey project will comprise 785 serviced apartments with 25 layout designs with built-up sizes ranging from 450 to 920 sq ft. The selling price starts from RM884,400.
Apart from the residential units, there will also be 221 office suites and 20 retail units.
The construction work, which will be undertaken by main contractor China State Construction Engineering (M) Sdn Bhd, is expected to start in the second half of 2026 and be completed by 2030.
The site is adjacent to the Raja Uda MRT station, giving accessibility to key areas such as TRX, KLCC and Bukit Bintang.
At the launch, GD Properties also signed a Letter of Agreement with Bank Rakyat whereby the bank will finance RM182 million for the development.
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