Majestic Gen has strengthened its footprint in Penang’s Northern Region with the strategic acquisition of a prime freehold site along Jalan Anson in George Town, purchased for RM75 million via Dynamic Gates Sdn Bhd, a special purpose vehicle under Paramount Corporation Bhd’s earlier securitization exercise. The site, comprising three adjoining parcels with a combined gross floor area of approximately 295,508 square feet, is currently occupied by UOW Malaysia KDU Penang University College. The purchase price, which exceeds the RM70 million valuation conducted in November 2025, reflects Majestic Gen’s confidence in the long-term potential of both the location and the region.
This acquisition aligns with Majestic Gen’s strategy to expand its presence in high-growth urban centers across the Northern Region, as Penang continues to flourish as a hub for technology, education, culture, and tourism. Jalan Anson offers a unique combination of accessibility, established amenities, and proximity to key commercial, medical, and cultural destinations, positioning Majestic Gen in a highly sought-after enclave that provides a solid foundation for future high-rise developments. Guided by its CHARM values—customer-centric, honest, ambitious, resourceful, and magnificent—the group aims to develop projects that meet community needs while maintaining clarity, purpose, and relevance in planning.
According to Datuk Hoo Kim See, Chief Executive Officer of Majestic Gen, the acquisition represents an important step in the company’s Northern Region expansion, enabling the creation of developments that deliver lasting value and trust to the community. Executive Director Mr Ta Wee Dher added that the Jalan Anson site offers a strategic foundation for the next phase of growth, with the potential to integrate contemporary design while respecting the character of George Town.
This move builds on Majestic Gen’s proven track record in Penang, including the successful launch of Majestic Aman in July 2025, a 5.66-acre freehold residential and commercial development in Taman Sungai Dua Utama with a Gross Development Value of RM66.8 million. Beyond residential and commercial projects, the group also drives industrial growth through its joint venture Suling Hill Development Sdn Bhd, which manages the 176-acre Northern TechValley industrial park with a projected GDV of RM1.3 billion. With the Jalan Anson acquisition, Majestic Gen reinforces its commitment to Penang’s urban development, focusing on thoughtfully planned high-rise projects that combine modern design, urban convenience, and enduring value for communities.
For more information, log on to www.majesticgen.com.my.