KUALA LUMPUR (Nov 30): Exsim Development Sdn Bhd and the Malaysian Basketball Association (Maba) officially commenced construction of Maba Suitez, a 60-storey redevelopment at the former Wisma Maba site along Jalan Hang Jebat in Kuala Lumpur.
Spanning 1.328 acres, the project features two towers with a gross development value of RM800 million, offering approximately 1,300 units, including:
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Serviced apartments: 484–657 sq ft
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Office suites: 323 sq ft
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Estimated selling prices: RM1,800–RM2,200 per sq ft
The project is slated for completion in 2031 and is strategically located opposite the Merdeka 118 precinct, within walking distance to MRT Merdeka and LRT Plaza Rakyat stations.
At the groundbreaking ceremony, Maba president Datuk Seri Lee Tian Hock, who is also the founder and executive deputy chairman of Matrix Concepts Holdings Bhd, shared that Maba will receive RM170 million for the site, with RM120 million reinvested to acquire serviced apartments in Maba Suitez. With an anticipated 5% rental yield, these units are expected to generate around RM6 million annually, providing the association with a stable, long-term income stream.
The new development also incorporates a 3,000 sq ft Maba headquarters featuring a half basketball court, reflecting the association’s commitment to both sporting and financial legacy.
Lee highlighted that the redevelopment was necessary due to the structural issues of the aging Wisma Maba and its stadium, saying:
“We can’t live on past achievements; we must have the courage to build a new legacy.”
Maba Suitez is positioned to become a landmark high-rise blending residential, office, and recreational spaces in a prime Kuala Lumpur location.
