KUALA LUMPUR (May 1) — Negeri Sembilan-based developer GD Properties has officially launched KL360, a reimagined mixed-use development with a gross development value (GDV) of RM1.37 billion, breathing new life into a previously abandoned project along Jalan Tun Razak.
The site was formerly known as M101 Skywheel, a highly ambitious 78-storey twin-tower development featuring a ferris wheel on the 52nd floor. Originally launched in 2017 by M101 Holdings Sdn Bhd, construction stalled around 2022–2023, leaving the project incomplete despite its earlier GDV estimate of RM1.5 billion.
After acquiring the site two years ago, GD Properties undertook a full redesign in collaboration with Veritas Design Group. The result is KL360 — a more practical and market-driven concept that reduces the scale from 78 to 61 storeys, addressing feasibility concerns that plagued the original scheme.
A More Market-Focused Mixed Development
KL360 will feature 785 serviced apartments across 25 layout configurations, with built-up sizes ranging from 450 sq ft to 920 sq ft. Units are priced from RM884,400, positioning the project within the upper mid to high-end urban residential segment.
Beyond residential offerings, the development includes 221 office suites and 20 retail units, creating an integrated live-work-play environment in a prime Kuala Lumpur location.
Strategically located along Jalan Tun Razak, the project sits next to the Raja Uda MRT station, offering direct connectivity to key city hubs such as TRX, KLCC and Bukit Bintang.
Construction Timeline and Financing Secured
Construction is scheduled to begin in the second half of 2026, with completion targeted for 2030. The project will be built by China State Construction Engineering (M) Sdn Bhd, ensuring execution capability for a development of this scale.
To support the project, GD Properties has secured financing through a Letter of Agreement with Bank Rakyat, which will provide RM182 million in funding.
Strategic Entry into Klang Valley
KL360 marks GD Properties’ first venture into the Klang Valley, signalling its ambition to expand beyond Negeri Sembilan into Malaysia’s most competitive and high-value property market.
What I Learned from This News
This case clearly shows that abandoned projects are not always dead assets — they can be repositioned into viable developments with the right strategy. By acquiring M101 Skywheel and redesigning it into KL360, GD Properties demonstrates how developers can unlock value from distressed or stalled projects.
Another key insight is the importance of feasibility over ambition. The original Skywheel concept was iconic but impractical, while KL360 reflects a more grounded, market-driven approach with manageable scale, realistic pricing, and diversified components (residential, office, retail).
Location also remains a critical factor. Being next to the Raja Uda MRT station significantly enhances the project’s appeal, especially in a transit-oriented development (TOD) environment where connectivity drives demand and long-term value.
Finally, this highlights a broader opportunity in Kuala Lumpur’s urban redevelopment landscape — where incomplete or abandoned developments can be transformed into profitable assets, particularly in prime corridors like Jalan Tun Razak.
Malaysia