KUALA LUMPUR (April 10): Sunsuria Bhd (KL:SUNSURIA) has completed the acquisition of an additional 41% equity interest in KL City Gateway Sdn Bhd (KLCG) for RM21.46 million, increasing its total shareholding from 20% to 61%, according to a press statement on Friday.

The acquisition was undertaken through a share sale and purchase agreement with Suez Capital Sdn Bhd and other existing shareholders.

Sunsuria had previously acquired its initial 20% stake in KLCG in December 2024.

The completion of the transaction enables Sunsuria to consolidate KLCG as a subsidiary and take a more active role in the execution of the KL City Gateway project.

The remaining shareholders retain a collective 39% equity interest and continue as parties to the shareholders' agreement.

KLCG is currently undertaking KL City Gateway, a 9.66-acre integrated, transit-oriented development located in the heart of Kuala Lumpur.

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

This phase comprises four development plots and dedicated green space, integrating commercial, residential and green spaces within a pedestrian-friendly master plan.

Strategically located near the Petronas Twin Towers, the development will feature a planned direct ingress and egress from the Ampang-Kuala Lumpur Elevated Highway.

As part of the redevelopment, existing owners who opt for replacement residential units will be offered three-bedroom apartments.

The project also includes a commercial component comprising 640 modern suites, intended to support short-term stays and business use.