Sunsuria ups stake KL City Gateway to 61%

KUALA LUMPUR: Sunsuria Bhd has inked a deal to acquire an additional 41% equity interest in KL City Gateway Sdn Bhd (KLCG) for RM21.46mil, bringing its total stake to 61%.

In a statement, the group, which first purchased a 20% stake in KLCG in December 2024,  said it will acquire the additional equity from four existing KLCG shareholders, namely Suez Capital Sdn Bhd, Scenic Starhill Sdn Bhd, Yedor Holdings Sdn Bhd and Yeoh Ah Tu.

Following the acquisition, KLCG will become a subsidiary of the group. The other KLCG shareholders - Transworld Equity Sdn Bhd and Suez Capital - will hold a combined 39% equity interest in the company.

KLCG is a property developer focused on mixed-used developments in Klang Valley

and is currently undertaking the planned redevelopment of 9.66 acres of land along Jalan Sungai Baru, located at Kampung Sungai Baru, Kuala Lumpur

Phase 1, covering about 7.95 acres, is planned as a mixed-use integrated development with an estimated gross development value (GDV) of RM2.75bil. 

The five-plot masterplan is planned to include residential and serviced apartments, office suites, retail components and supporting public amenities.

Phase 2, covering about 1.71 acres is subject to further planning assessments and the relevant regulatory approvals.