Hunza Properties Berhad

What Hunza Properties Berhad does

Hunza Properties Berhad is a Malaysian property development company founded in the late 1970s by Dato' Seri Khor Teng Tong and headquartered in George Town, Penang. The group operates through 11 wholly-owned project subsidiaries spanning Penang, Kedah, and Kuala Lumpur, with a portfolio that ranges from affordable high-rise housing (TreeO, Banyan Residensi under the SENYUM Series), through mid-market terrace and integrated township developments (Mekarsari, Bandar Putra Bertam, Bayu Kedah, Seri Embun), to luxury and ultra-luxury condominiums (Alila2, Muze @ PICC, Gurney Paragon Residences, Infinity Beachfront, Mutiara Seputeh). It also owns and operates Gurney Paragon Mall — a flagship retail destination opened in 2013 and integrated with the restored 1916 St. Jo's heritage chapel (a Malaysia Book of Records first) — together with Hunza Tower office space, generating a recurring rental income stream that complements transactional property sales revenue.

The company's core technology stack centers on integrated digital platforms and sustainable building systems: the H Circle app unifies selected Hunza residential properties with Gurney Paragon Mall tenants under a single loyalty and building-management ecosystem; PICC (Penang International Commercial City) in Bayan Lepas is positioned as the first mixed-use integrated smart city development in Southwest Penang; and Alila2 is designed to Green Building Index (GBI) Gold standards with heat-blocking glass, rainwater collection, certified water-efficient fittings (50% reduction), and 47% green coverage. The group has accumulated recognitions including a FIABCI World Prix D'Excellence 2014 silver for heritage conservation, multiple FIABCI Malaysia awards, and repeat Hong Kong Metro Finance FM104 overseas-developer recognition.

Hunza monetizes through three coordinated revenue streams: (1) one-time property development sales across residential and commercial product tiers in Malaysia, with revenue recognized on handover; (2) recurring retail and F&B rental income from Gurney Paragon Mall tenants spanning premium international brands (Tory Burch, H&M, Sephora, Victoria's Secret, Polo Ralph Lauren, Chow Tai Fook, Michael Kors), first-in-Penang concepts (Decathlon, Haidilao, Jaya Grocer, San Xi Lou, TGV IMAX), and services (Standard Chartered Bank, BookXcess, MST Golf, Oxygen Fitness); and (3) recurring office leasing at Hunza Tower plus managed property services via H Circle. Go-to-market is sales-led via direct sales galleries in Bertam, Kepala Batas, and Sungai Petani, supplemented by property exhibitions, roadshows, social media, and targeted overseas marketing in Hong Kong. The group is founder/family-controlled (current Group Managing Director Dato' Khor Siang Gin), with no public listing, no external PE/VC backing, and no disclosed M&A activity.

Name

Hunza Properties Berhad

Legal name

Hunza Properties Berhad

Website

https://hunzagroup.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

251–500 employees

Short description

Hunza Properties Berhad is a Malaysian property developer (founded late 1970s, Penang-headquartered) building affordable to luxury residential, commercial, and mixed-use developments across Penang, Kedah, and Kuala Lumpur, while operating Gurney Paragon Mall and Hunza Tower for recurring rental income.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Residential Building Construction (2361), New Multifamily Housing Construction (except For-Sale Builders) (236116), Nonresidential Property Managers (531312)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Residential Real Estate Asset Management (BPAJAMAA), Value-Add & Opportunistic Real Estate (FSAAAKAB)

Keywords

• Residential property development
• Commercial property development
• Integrated township development
• Luxury condominium development
• Retail mall operations

Headquarters

HQ city

Penang

HQ country

Malaysia

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Marketing or Sales, Technology or R&D, Personnel, Infrastructure

Revenue model

1. Property Development Sales: Primary revenue stream from developing and selling residential (terrace houses, condominiums, bungalows) and commercial properties across Penang, Kedah, and Kuala Lumpur. Revenue recognized upon property handover to buyers.
2. Retail Mall Operations: Gurney Paragon Mall generates recurring rental income from retail tenants including Swiss Watch Gallery, Tory Burch, Polo Ralph Lauren, Chow Tai Fook, Michael Kors, H&M, Sephora, Victoria's Secret, and first-in-Penang brands like MLB, NITORI, Decathlon, Haidilao, Jaya Grocer, PUTIEN, San Xi Lou, Lukfook Jewellery and Ban Bu Dian.
3. Office Tower Leasing: Hunza Tower (office space) and integrated office units at Gurney Paragon generate recurring rental income from commercial tenants including renowned international corporations.
4. Property Management Services: H Circle app provides digital building management services including loyalty programs, building management processes, and communication between management and residents.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Hunza Properties Berhad is a Malaysian property developer that plans, builds and sells integrated townships, luxury and affordable residential developments, mixed-use smart city projects, and commercial properties. The company also invests in and operates income-generating assets including the Gurney Paragon Mall retail destination, Hunza Tower office building, and the restored heritage site St. Jo's, generating recurring rental income alongside property sales revenue.

Product overview

Hunza Properties Berhad is a Malaysian property developer with over 45 years of experience offering a diverse portfolio spanning integrated townships, mixed-use developments, luxury and affordable residential properties, commercial projects, and shopping malls. The company's product portfolio includes flagship developments such as PICC (Penang International Commercial City) - a smart city project, Gurney Paragon Mall - an award-winning retail destination, and various residential offerings ranging from affordable homes (TreeO, Banyan Residensi under the SENYUM Series) to luxury condominiums (Alila2, Gurney Paragon Residences). The portfolio encompasses current projects like Senze @ PICC and Muze @ PICC, as well as completed township developments like Bandar Putra Bertam and Mekarsari.

Differentiator

Problem solved

Functional benefit

Brands

• SENYUM Series: Affordable housing series by Hunza Properties featuring Banyan Residensi and other affordable developments under the tagline of joy, dignity and connection
• PICC (Penang International Commercial City)
• Gurney Paragon Mall
• Alila2
• H-Circle App
• SENZE @ PICC
• Muze @ PICC
• TreeO

Products and services

• Penang International Commercial City (PICC) Mixed-use integrated smart city development in Southwest Penang featuring residences, offices, a 5-star hotel, lifestyle mall and retail, and a world-class hospital with smart city technology infrastructure.
• Gurney Paragon Mall Flagship retail development opened in 2013 along Gurney Drive promenade offering premium brand retail with over 1,500 car parks and integrated heritage institution St. Jo's.
• Hunza Tower Prestigious commercial office building located atop Gurney Paragon Mall in George Town, Penang, offering premium office space to international corporations.
• Senze @ PICC Service residence development at PICC across three towers (Tower A: 507 units, Tower B: 497 units, Tower C: 676 units) with smart home systems and resort-styled facilities, expected completion January 2027.
• Banyan Residensi First premium affordable development under Hunza's SENYUM Series in Bertam, featuring Bertam's first vertical living experience with over 46 resort-style amenities including a 62m infinity pool.
• Seri Embun (Phase 3B) Upgraded two-storey terrace houses in an integrated township development in Sungai Petani, Kedah, designed for young families with 1,543 sq.ft. and 4 bedrooms.
• Mekarsari Unggul (BKB Phase 16) Latest phase of the 345-acre Mekarsari township at Bandar Kepala Batas featuring Aelis Premium Zero Lot Bungalow, Bellis Double Storey XL Super-Link, and Calla Double Storey Backyard homes.
• Muze @ PICC First residential project at PICC featuring two freehold residential towers with 846 units of 3 to 5 bedroom layouts, combining luxury living with flexibility and practicality.
• Alila2 Luxury condominium in Tanjung Bungah with 270 units on 9.8 acres featuring resort design with lush greenery and GBI Gold Certificate sustainable design standards.
• TreeO Nature-inspired affordable high-rise development in Sungai Ara, Penang with 1,240 units across three 33-36 storey blocks offering panoramic views and versatile condo facilities.
• Gurney Paragon Residences Signature 43-story luxury development with two resort-styled tower blocks offering ocean views in the Gurney Drive beachfront district.
• Infinity Beachfront Super Condominium Beachfront luxury development in Tanjung Bungah with 119 units of condominiums, penthouses and cabanas featuring sea views and infinity-edged swimming pool.
• St. Jo's @ Gurney Paragon Mall Restored 1916 heritage chapel and institution integrated as part of Gurney Paragon Mall, serving as versatile space for retail, dining and exclusive private events.

Quantifiable outcome

• FIABCI Malaysia Property Award 2025 (Affordable Housing Super High Rise Category) for TreeO
• +3 more outcomes

Named customers14 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Pavilion REIT: Malaysia-focused retail mall REIT operating premium shopping destinations; relevant comparable for Gurney Paragon Mall's recurring rental and tenant-mix dynamics.
• CapitaLand Malaysia REIT: Malaysia-focused retail REIT operating shopping malls; offers a benchmark asset-level read on Gurney Paragon Mall's operational economics.

Direct peers

• Paramount Corporation Berhad: Malaysian developer with townships and property investments comparable to Hunza's diversified Malaysian portfolio.
• IOI Properties Group Berhad: Large Malaysian developer-developer of integrated townships, residential, and commercial properties; comparable to Hunza's mixed-use Penang/Kedah portfolio.
• Sunway Berhad: Malaysian conglomerate with property development, mall operations (Sunway Pyramid), and hospitality, directly comparable to Hunza's integrated mall/tower/development stack.
• UEM Sunrise Berhad: Malaysian developer focused on master-planned townships and high-rise residential; comparable in product type and Malaysian market focus to Hunza's township portfolio.
• SP Setia Berhad: One of Malaysia's largest developers with integrated townships and mixed-use developments across the country, comparable to Hunza's flagship PICC concept.
• Eco World Development Group Berhad: Malaysian property developer with diversified residential, commercial, and township projects across Malaysia, comparable in scale and business mix to Hunza's integrated development model.
• Sime Darby Property Berhad: Large Malaysian township and integrated developer with comparable product mix across residential, commercial, and industrial assets in Peninsular Malaysia.
• Mah Sing Group Berhad: Malaysian property developer with significant presence across Penang and the northern region building townships and residential projects at a comparable scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/gurneyparagon
• Instagraminstagram.com/gurneyparagonmall

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries11 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 Hunza Properties Berhad