Selangor Properties

What Selangor Properties does

Selangor Properties Sdn. Bhd. (SPB) is a Malaysian property development and investment company founded in 1963 and fully privatized from Bursa Malaysia in October 2019, controlled by holding company Kayin Holdings Sdn Bhd. It develops, owns, and manages a concentrated portfolio of premium real estate assets in Kuala Lumpur's Damansara Heights and Bukit Tunku neighborhoods, comprising four core assets: Menara Milenium (a 25-storey, ~560,000 sq ft Grade A office tower with anchor tenants Ernst & Young and ZICO Law), The Five @ KPD (172,900 sq ft of retail and office space across 5 blocks at Semantan MRT), The Stories of Taman Tunku (a heritage-adaptive-reuse mixed-use project in Bukit Tunku with 66 residential apartments and 28 commercial units at 100% occupancy), and AIRA Residence (169-unit European-inspired luxury condominium on 3 acres of freehold land).

Revenue is generated from two streams: recurring rental income from commercial property leasing (Menara Milenium, The Five @ KPD, Taman Tunku commercial units) under multi-year contracts, and one-time revenue from sales of premium residential units (AIRA Residence). Pricing is negotiated on a quote basis rather than publicly listed, reflecting the bespoke nature of high-end transactions. GTM is sales-led and direct: dedicated property microsites, online interest registration portals, and on-site property management teams serve three primary customer segments — corporate office tenants seeking prestigious Damansara Heights addresses with MRT/highway connectivity, retail and F&B operators targeting foot traffic near transit hubs, and high-net-worth residential buyers seeking exclusive, low-density luxury living.

The company emphasizes heritage conservation and place-making, evidenced by recent The Edge Malaysia awards (Gold in Repurposed Building category, Editor's Choice for Excellence in Heritage Reimagined, and the Excellence in Conservation & Adaptive Reuse Award 2025). Operating footprint is single-country (Malaysia) with no disclosed geographic expansion plans. The leadership structure transitioned in February 2026 with the appointment of a new CEO (ex-EY PLT audit practice) alongside long-tenured Executive Chairman Mr Wen Chiu Chi, suggesting a professionalization phase post-privatization.

Name

Selangor Properties

Legal name

Selangor Properties Sdn. Bhd.

Website

https://selangorproperties.com.my

Company type

Private

Founded year

1963

Operating status

Operating

Headcount range

11–50 employees

Short description

Selangor Properties Sdn. Bhd. is a Malaysian property development and investment company operating premium commercial and residential real estate in Kuala Lumpur's Damansara Heights and Bukit Tunku since 1963, generating recurring rental income and one-time residential sales.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Real Estate (531), Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Mixed-Use Property Management (BPAJAGAE)

Keywords

• Commercial property leasing
• Luxury residential development
• Mixed-use heritage refurbishment
• Premium office space
• Property investment holding

Headquarters

HQ city

Damansara

HQ country

Malaysia

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Commercial Property Leasing: Revenue from leasing office and retail spaces including Menara Milenium (560,000 sq. ft.) and The Five @ KPD (172,900 sq. ft. lettable area). Includes premium office space and retail lots across Damansara Heights portfolio.
2. Residential Property Sales: Sale of premium residential developments including AIRA Residence (169-unit European-inspired condominium) and completed projects at The Stories of Taman Tunku (66 residential units).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Selangor Properties develops, owns, and leases premium residential and commercial real estate in Kuala Lumpur's Damansara Heights and Bukit Tunku. Its portfolio comprises luxury condominiums (AIRA Residence, 169 units), premium office space (Menara Milenium, 555,000+ sq. ft.; The Five @ KPD, 172,900 sq. ft.), and mixed-use heritage-adapted developments (The Stories of Taman Tunku). Revenue is generated through commercial leasing and residential property sales.

Product overview

Selangor Properties Sdn. Bhd. (SPB) is a property development and investment holding company that creates premium places for living, working, and community. The portfolio consists of four distinct property developments: The Five @ KPD (a commercial complex with retail and office spaces), Menara Milenium (a premium office tower), The Stories of Taman Tunku (a heritage-adapted mixed-use development), and AIRA Residence (a luxury residential condominium).

Differentiator

Problem solved

Functional benefit

Products and services

• AIRA Residence European-inspired luxury condominium development comprising 169 units on 3 acres of freehold land in Damansara Heights, Kuala Lumpur, with views of the Kuala Lumpur City Centre. Targeted at high-net-worth individual buyers seeking exclusive, limited-availability residences in a prime KL enclave.
• Menara Milenium 25-storey iconic premium office building in Damansara Heights offering 555,000+ sq. ft. of Net Lettable Area (560,000 sq. ft. premium office space), with an average floor plate of approximately 22,500 sq. ft. Serves international and multinational businesses including Ernst & Young and ZICO Law as tenants. Completed in 2000.
• The Five @ KPD Commercial complex consisting of 5 blocks of 4-storey buildings with 172,900 sq. ft. of lettable area, located adjacent to Semantan MRT Station in Damansara Heights. Provides retail, F&B and office spaces with MRT, bus and taxi connectivity at the doorstep and immediate highway access to KLCC and Petaling Jaya.
• The Stories of Taman Tunku Low-density heritage-adaptive mixed-use development in Bukit Tunku comprising 19 exclusive retail lots, 40 renewed residential apartments, and 26 refurbished business units, with direct connection to Jalan Duta and the Jalan Kuching highway. Achieved 100% occupancy post-refurbishment and won The Edge Malaysia Excellence in Conservation & Adaptive Reuse Award 2025.

Quantifiable outcome

• 100% occupancy achieved at The Stories of Taman Tunku following refurbishment
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and supporting.

• Yayasan Chow KitcoreStrategic or Co-development Partner · 1 November 2023Three-year partnership (2023-2026) supporting YCK's safe home for children-at-risk up to 12 years old who need temporary guardianship. The shelter protects children from abuse and exploitation and provides nutrition, healthcare, education, and socialisation opportunities.
• Wen Giving + Selangor PropertiescoreStrategic or Co-development Partner · 31 May 2023Joint initiative supporting healthcare and community projects. In 2023, partnered to launch the Accident & Emergency Centre of UTAR Hospital in Kampar, Perak. Wen Giving + Selangor Properties are committed to supporting projects that positively impact people's lives and better communities.
• ROSE FoundationcoreStrategic or Co-development Partner · 1 January 2019ROSE (Removing Obstacles from Cervical Screening) is a women-centered innovation in cervical cancer screening. SPB donated to Program ROSE matching MP Nurul Izzah Anwar's pledge to support cervical cancer screening in her constituency. SPB also funded the establishment of the ROSE Laboratory which provides HPV testing services.
• Persatuan Dialysis Kurnia Petaling Jaya (PDK)supportingStrategic or Co-development Partner · 1 July 2018Dialysis centre operating since 2008 with 14 haemodialysis machines serving 72 patients. SPB contributed to the purchase of two automatic dialyzer reprocessors for replacing equipment due for renewal after 5-7 years of use.
• Women's Aid Organisation (WAO)coreStrategic or Co-development Partner · 1 January 2018Partnership supporting WAO's team of six Social Workers who advocate for women's rights and provide assistance to survivors of domestic violence. SPB has supported WAO since 2015, including funding the Child Care Centre (63 children helped 2015-2017) and art awareness projects including 'Harapan Sentiasa Ada' exhibit and 'Tina's Journey' book.
• Malaysian Mental Health Association (MMHA)supportingStrategic or Co-development Partner · 1 January 2018SPB contributes to MMHA via their annual events to help raise funds for their work. Supported 2018 Mind Run & Carnival celebrating MMHA's 50th Anniversary and first Food and Fun Fair for mental health awareness.
• Teach for Malaysia (TFM)supportingStrategic or Co-development Partner · 1 January 2018Non-profit organisation established in 2009 to end education inequity in Malaysia. SPB supports one TFM Fellow - a young committed graduate teaching in high-need schools - to empower children and help them realise their potential.
• YWCA Vocational Training Opportunity CentresupportingStrategic or Co-development Partner · 1 January 2018Supports five young trainees aged 16-20 from the Culinary and Bakery course. Trainees are provided accommodation and meals at the centre. Course covers Personal Development, Customer Relations, Food Planning, Occupational Hygiene and Safety.
• Grand Dynamic Builders Sdn BhdsupportingOthers · 9 August 2017Main building contractor appointed for AIRA Residence development project. Named as main contractor for the 169-unit luxury condominium project in Damansara Heights.
• Selayang Mulia Low Cost (SMLC) Education ProgrammesupportingStrategic or Co-development Partner · 1 January 2017Established tuition centres for school-going children aged 10-16 living in SMLC flats. Set up two units of kindergarten for children aged 5-6. Provides furniture, electronics, school supplies, meals, and festive goodies. Multiple units renovated including tuition centre makeovers in October-November 2018.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• CapitaLand Malaysia (CapitaLand Investment): Regional asset manager with Malaysian commercial and integrated developments; comparable in commercial property investment approach and multinational tenant relationships.
• Hap Seng Land Sdn Bhd: Property arm of Hap Seng Consolidated with mixed-use developments (e.g., Menara Hap Seng) and commercial properties; comparable in commercial real estate investment and Klang Valley exposure.

Direct peers

• IOI Properties Group Berhad: Malaysia-listed property developer and investor with integrated townships, luxury residences (e.g., IOI Resort City), and commercial properties; directly comparable in Klang Valley premium segments.
• Sunway Berhad: Integrated conglomerate with property arm (Sunway City KL, Sunway Velocity) plus construction and hospitality; comparable in mixed-use transit-adjacent development strategy.
• Mah Sing Group Berhad: Klang Valley-focused developer with mid-to-upper-tier residential townships and commercial projects; comparable in product mix targeting Malaysian middle-to-affluent buyers.
• Sime Darby Property Berhad: One of Malaysia's largest diversified property developers with township, integrated, and commercial projects; comparable in master-planning scale and premium positioning across Klang Valley.
• Eastern & Oriental Berhad (E&O): Heritage-sensitive luxury developer (Straits Quay, E&O Residences KL); closely comparable to SPB in heritage-adaptive-reuse approach and boutique luxury positioning.
• Eco World Development Group Berhad: Top-tier Malaysian developer of upscale townships and integrated developments; comparable in Klang Valley focus and premium lifestyle positioning.
• UEM Sunrise Berhad: Developer of flagship integrated developments like Iskandar Puteri and premium KL projects; comparable in master-planning capability and high-end positioning.
• GuocoLand (Malaysia) Berhad: Premium Malaysian developer of integrated mixed-use and luxury residences (e.g., Emerald Hills, Damansara City); closely comparable given proximity to SPB's Damansara Heights portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/selangor-properties-bhd-spr-

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Selangor Properties