Sunsuria Increases Stake In KL City Gateway To 61 Pct

KUALA LUMPUR, April 10 (Bernama) -- Sunsuria Bhd has completed its acquisition of an additional 41.00 per cent equity interest in KL City Gateway Sdn Bhd (KLCG), increasing its shareholding from 20 per cent to 61 per cent.

In a statement today, the company said the RM21.46 million acquisition was undertaken through a share sale and purchase agreement (SSPA) with Suez Capital Sdn Bhd and other existing shareholders.  

Sunsuria had previously acquired a 20 per cent stake in KLCG in December 2024.

Following the completion of the transaction, Sunsuria now holds a 61 per cent equity interest in KLCG, representing a majority stake.

“The remaining shareholders retain a collective 39 per cent equity interest and continue as parties to the shareholders’ agreement,” it said.

KLCG is undertaking KL City Gateway, a 3.909-hectare integrated, transit-oriented development in the heart of Kuala Lumpur.

The first phase of the development has an estimated gross development value (GDV) of approximately RM2.75 billion.

This phase comprises four development plots and a dedicated green space, bringing together commercial, residential and green spaces within a well-connected, pedestrian-friendly masterplan.

KL City Gateway represents one of the few large-scale integrated developments within the city centre. Strategically located within Kuala Lumpur city centre, KL City Gateway is in proximity to the Petronas Twin Towers and the Saloma Link.

The development also benefits from strong accessibility, including a planned direct ingress and egress from the Ampang-Kuala Lumpur Elevated Highway (AKLEH), enhancing connectivity across the city, in line with its positioning as “A Global Address, Perfectly Connected”.

The completion of the acquisition enables Sunsuria to consolidate KLCG as a subsidiary and take a more active role in the project’s execution.

The project is expected to contribute to the group’s performance over the medium to long term, in line with its overall development timeline. 

-- BERNAMA