This article first appeared in City & Country, The Edge Malaysia Weekly on June 1, 2026 - June 7, 2026

Negeri Sembilan-based property developer GD Properties Sdn Bhd is expected to officially launch KL360, a mixed-use project with a gross development value (GDV) of RM1.37 billion, on June 6. The freehold development was recently in the news as it was previously the distressed M101 Skywheel project, known for its design with a ferris wheel between the two towers.

The abandoned M101 Skywheel project, which was launched in 2017 by M101 Holdings Sdn Bhd according to news reports, boasted an ambitious plan that would have featured a 220m-tall ferris wheel on level 52 of the 78-storey building. Construction of the building, which had a GDV of RM1.5 billion, stopped between 2022 and 2023.

For GD Properties, the property development arm of GD Holdings Group of Companies that was founded in 2009, KL360 will be its first project in the Klang Valley. GD Holdings is also involved in businesses that include property leasing, the supply of organic food and medicinal herbs, the provision of security and armed guard services, as well as the import and distribution of fertilisers.

Group CEO Ng Khoon Haur tells City & Country in an exclusive interview that the developer stepped in as a white knight to revive the abandoned project in 2024. He explains that the purpose was to establish itself in the Klang Valley, even though taking this route has its challenges.

“This [abandoned property] sector is quite difficult. You need to work with the receivers and buyers, have an understanding of the law to work with the court, get bank support as well as deal with all the legacy issues. That’s why not many [take on abandoned projects]. We are not one of the big boys but we have to do difficult jobs to [establish our presence] here,” says Ng.

Once on board, the developer had to rethink the aesthetics of the project. “The design was too ambitious. We decided to reduce the plot ratio and change the design — take out the ferris wheel and reduce it to 61 storeys,” he says.

“We worked together with Veritas [which has been involved in the project since the beginning]. We have designed the layout in KL360 to be curved so that every unit can have a view of the Kuala Lumpur city centre.”

KL360 will have a total of 1,026 units, comprising 780 serviced apartments, 221 office suites, 20 retail outlets and five penthouses. The serviced apartments will have built-ups of 450 to 939 sq ft  while the office suites will be from 450 to 944 sq ft.  The selling price starts from RM763,000, or RM1,498 psf.

GD Properties will retain the retail outlets for recurring income. Ng says the rental rate has yet to be decided.

Meanwhile, the 55,000 sq ft facilities floor will feature attractions such as a sky restaurant and retail centre, 360° skydeck, 60m cliff pool, sky walk, sky water play zone, boxing gym, skating zone, Jacuzzi, sauna room, multipurpose hall, games room, glass “sky slides”, pickleball and basketball courts, as well as spaces for yoga and crossfit.

On buyer interest in the project, Ng says the developer has received more than 100 registrations of interest leading up to the launch. As it was previously an abandoned project, about 300 buyers were affected. Of the 300, about 150 decided to proceed with the new project and chose their units in the new development, says Ng.

“We promised to give them a little bit extra to encourage them to [continue with us]. They have been paying instalments for 10 years. There should be some sort of compensation. Even though the money didn’t come to us, it doesn’t cost us a lot to do so,” he adds.

“The other 150 buyers opted for the [compensation scheme] and recovered about half of their original investment. For example, a buyer who had paid RM500,000 will receive RM250,000.”

In Negeri Sembilan, GD Properties established itself with its maiden project, the 50-acre Vision City in Nilai. Launched in 2017, the mixed-used development was to be built in four phases over eight to 10 years, with an estimated GDV of RM10 billion once completed.

“In Vision City, we are focused on community development and student management. When I say community development, it means that we [open up to the wider] community … This means the commercial value will improve because it is not only serving the residential area,” says Ng.

Most of the student population in Vision City attend universities such as INTI International University & Colleges, Nilai University, Mila University, Universiti Sains Islam Malaysia, Meatech International College and ADMAL Aviation College — all within a 10km radius of the development.

So far, only the first phase — Youth City — has been completed. It has a GDV of RM1.37 billion, comprising 96 shoplots and 3,213 residential units across four 37-storey towers. About 700 residential units are retained and managed by its property management business for recurring income.

Youth City’s facilities include an Olympic-size swimming pool and four rooftop infinity pools; a tennis court, two squash courts, eight badminton courts and five gymnasiums; a grand ballroom; a mini cineplex; and a surau that can accommodate up to 1,000 people.

In terms of layout and pricing, the residential component ranges from 460 sq ft studio apartments to 1,008 sq ft three-bedroom units, priced from RM330,000 to RM600,000. There are only 100 units still available.

For the overall Vision City, Ng says only 20% has been developed so far. He highlights that the original master plan included convention and business-oriented components, alongside additional student-community developments, but the product mix now needs to be reconfigured.

“Because of the success of Youth City, land prices in the surrounding area have become increasingly expensive and expectations are now much higher. If you look at the market value there, it could reach RM100 to RM120 psf,” he points out.

Ng notes that land cost in Nilai has gone up, prompting the developer to reassess where the value-add lies before proceeding with the remaining components. He adds that any extension of Youth City will have to be sold at a higher price due to the rising land cost, which raises the question of whether the market can absorb prices above RM600 psf.

“A more sensible approach would be to reconfigure the development and focus on higher-value components, while relocating this particular component elsewhere. For example, Youth City Phase 2 could be developed further inland, where land is cheaper. This would allow us to sell at around RM500 to RM530 psf, if I remember correctly,” he says.

With two major projects on its plate, GD Properties’ presence in the competitive property development market is growing steadily.

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's App Store and Android's Google Play.