Land Deal Mah Sing Acquired Corus Hotel From MUI

Kuala Lumpur, 2025 – The MUI Group and Mah Sing Group Berhad (“Mah Sing”) 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 5 minutes’ walking distance of the iconic Petronas Twin Towers and Suria KLCC, was transacted at RM260million.

 Said MUI Chairman and Chief Executive Officer Andrew Khoo: “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.”

 “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”.

Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum, shared, “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 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.”

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. 

The site offers unmatched accessibility and connectivity – 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 enjoys excellent pedestrian connectivity via covered walkways, linking it seamlessly 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).

This marks Mah Sing’s second land acquisition of the year, reinforcing Mah Sing’s strategy of unlocking value from prime urban locations with strong demand fundamentals.

The signing ceremony was represented by Mah Sing’s Chief Executive Officer, Property Subsidiaries, Yeoh Chee Beng and The Mui Group’s Senior Vice President, Ong Hung Ming, witnessed by Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum and The MUI Group’s Chairman and CEO Andrew Khoo.

Mah Sing Group is excited to introduce a premium serviced apartment development that will be within reach of discerning local and international buyers and located within walking distance to the iconic Petronas Twin Towers and Suria KLCC. Given its strategic location in the heart of Kuala Lumpur, Mah Sing is planning a future development that maximises the site’s potential while aligning with market demand and long term growth opportunities.

Urban Regeneration with Economic Impact

The land, currently occupied by the Corus Hotel along Jalan Ampang, will undergo a transformative redevelopment as part of Mah Sing’s vision for urban regeneration. This initiative aims to breathe new life into a legacy property, create job opportunities during and after construction, and stimulate the local economy through increased footfall, tourism, and commercial activity. The influx of residents and guests to the area will contribute to the vibrancy of surrounding retail, F&B, wellness, and professional services.

Tan Sri Dato’ Sri Leong Hoy Kum noted, “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.”

The development supports national aspirations to revitalise inner-city assets while encouraging sustainable urban growth. It is also aligned with the Kuala Lumpur Local Plan 2040 (KLLP-2040), which emphasises the development of compact, accessible, and liveable neighbourhoods.

Continuing a Legacy of City-Centre Excellence

The acquisition builds on Mah Sing’s strong track record in Kuala Lumpur’s city centre, where it has successfully delivered landmark projects such as The Icon @ Jalan Tun Razak, M Suites @ Embassy Row and M City along Jalan Ampang. These completed and well-received developments highlight the Group’s expertise in prime land selection and modern urban design, and reflect its strong understanding of market demand and investor confidence. Leveraging this experience, Mah Sing aims to replicate and elevate its proven formula with the new project.

Backed by Financial Discipline, Driven by Demand

The acquisition reflects Mah Sing’s solid financial fundamentals and disciplined investment strategy. As the Group continues to identify and acquire high-potential landbanks in key urban corridors, it remains focused on offering accessible, well-designed, and strategically located properties to meet evolving lifestyle and investment demands.

Unparalleled Location in the Heart of KL

The site is not only close to the iconic Petronas Twin Towers and Suria KLCC, but also surrounded by a vibrant mix of lifestyle, commercial, and tourist destinations that enrich the overall liveability and appeal of the area.

Within walking distance are premier shopping and dining hubs such as Avenue K (200m), Suria KLCC (400m), KLCC Park (850m), Intermark Mall (1.4km), The Linc KL (800m), and Pavilion Kuala Lumpur (3.2km)— offering a variety of retail, culinary, and leisure experiences for both locals and international visitors.

For healthcare needs, the development is well-supported by top-tier medical facilities including Prince Court Medical Centre (2.4km) and Hospital Kuala Lumpur (3.3km), ensuring peace of mind for residents and guests alike.

The area is also well-served by a wide range of educational institutions, making it an ideal location for families. These include Sayfol International School (2.1km), UTM Kuala Lumpur (2.5km), St. John’s International School (3.9km), and SK Jalan Raja Muda (1.9km). Other nearby schools are SJK(C) Chung Hwa (P) Kuala Lumpur (1.7km), SMK Seri Ampang (1.7km), SK Jalan Gurney (2.0km), SMK Puteri Wilayah (3.4km), SK Dato Keramat 1 (3.5km), and SMK Convent Bukit Nanas (4.5km) — offering a variety of national and vernacular options to cater to different educational needs.

In terms of connectivity, the site enjoys direct access to key arteries including Jalan Kuching, Lebuhraya Sultan Iskandar, Jalan Kinabalu, Jalan Sultan Ismail, and Jalan Tun Razak. It is also seamlessly linked to several major expressways such as the Ampang–Kuala Lumpur Elevated Highway (AKLEH) and the newly completed Setiawangsa–Pantai Expressway (SPE). This strategic network ensures smooth travel throughout Greater Kuala Lumpur and further enhances the development’s appeal to both residents and investors.

With such a diverse offering of amenities, reputable schools, and unrivalled accessibility, the development is ideally suited for a wide demographic — from global business travelers and expatriates, to local buyers seeking a modern, city-based lifestyle investment.