This article first appeared in The Edge Malaysia Weekly on September 7, 2026 - September 13, 2026
AN almost 11,000 sq ft parcel, known as Lot 530 in Jalan Jati in the heart of Kuala Lumpur’s Golden Triangle, has been put up for sale via a tender exercise. The freehold parcel has an asking price of almost RM2,500 psf, industry observers say, which translates into about RM27 million. Previous transactions in the area were between RM2,000 and RM2,200 psf from 2020 to 2023.
A title search on Lot 530 shows that it is owned by Faber Crest Sdn Bhd. A company search lists its shareholders as Tan Kian Yoong, Tan Tiong Lin, Tan Swee Yeong, Tan Chong Kheng and Tan Wei Khang — with a 16.67% stake each — as well as Tan Oon Ling and Tan Koon Guan — with an 8.33% stake each.
The parcel can accommodate seven pickleball courts. While modest in size, the land’s pull lies squarely in its location.
Jalan Jati sits close to the Bukit Bintang precinct, one of the city’s busiest and most valuable commercial belts, and is only a five-minute drive from Tun Razak Exchange (TRX). The stretch places the site within easy reach of some of the city’s landmarks, including Pavilion Kuala Lumpur, Starhill Gallery, Fahrenheit88, Berjaya Times Square, and the Bukit Bintang and Imbi monorail and MRT stations.
According to Savills Malaysia, the marketing agent handling the deal, the plot offers an opportunity for a small development in the KL city centre or “even for an amalgamation plus redevelopment exercise”.
Savills Malaysia group managing director Datuk Paul Khong says the tender exercise ends on Sept 11.
“On the TRX side, the land’s proximity puts it close to The Exchange TRX mall, the Tun Razak Exchange MRT station, and the cluster of Grade-A office towers and residential developments rising within the 70-acre financial hub. For a developer or investor, the location effectively straddles two of Kuala Lumpur’s most active growth corridors — the established retail and hospitality belt of Bukit Bintang, and the still maturing but fast-growing TRX financial district,” an agent familiar with the area says.
Lot 530 is not without a development track record. The Edge understands that the land previously secured a development order (DO) for a 10-storey serviced apartment scheme comprising 31 units, suggesting the site’s planning parameters could support a boutique high-rise residential or hospitality-type project, subject to the buyer reapplying or reviving approvals with Kuala Lumpur City Hall (DBKL).
“Given the site’s compact footprint, any redevelopment is likely to skew towards a similarly boutique format — serviced apartments, a small hotel or a mixed-use scheme — rather than a large-scale tower, though a buyer could always explore amalgamation with adjoining lots to unlock greater density,” another industry observer tells The Edge.
That amalgamation angle is not far-fetched, as small land parcels in the immediate vicinity have already been changing hands. Fashion group Bonia Corp Bhd (KL:BONIA), through its wholly-owned property arm Casa Bologna Sdn Bhd, previously acquired Lot 510 along with an adjoining parcel near Jalan Delima — situated just behind the site occupied by One Seafood Restaurant — for a combined RM49.35 million, or RM2,200 psf, in 2020. At the time, the deal was a sizeable one relative to Bonia’s own market value, and management pointed to the prime Bukit Bintang location and the prospect of both capital gains and rental income as the reasoning behind the purchase. Bonia has since consolidated its ownership of the vehicle holding those two parcels, buying up minority stakes in the unit to bring it to full ownership.
Meanwhile, the wider Bukit Bintang-TRX corridor continues to see fresh development activity feeding off the area’s transformation. The Bukit Bintang City Centre project, built on the former Pudu Jail site, and TRX itself have both been widely cited by market watchers as catalysts reshaping what were once quieter side streets — such as Jalan Changkat Thambi Dollah — into higher-value thoroughfares as the two mega projects mature and connect.
“On the office and institutional side, older-generation office blocks in Jalan Bukit Bintang — including Menara Worldwide and the adjacent Yayasan Tun Razak building — have also reportedly been put up for sale in recent times, pointing to a broader wave of asset recycling as owners look to cash out or reposition ageing stock in an area whose fundamentals have been lifted by TRX’s completion,” the local agent adds.
With a previous development order in hand and a price point that sits at a premium to the most recent comparable transaction nearby, Lot 530’s eventual buyer will likely be betting on the continued uplift from TRX and Bukit Bintang’s ongoing regeneration rather than on land value alone.
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