From left: Majestic Gen CEO Datuk Hoo Kim See, Majestic Gen executive director Ta Wee Dher, Puan Sri Lim Chai Yin (wife to Majestic Gen chairman Tan Sri Ta Kin Yan) and Majestic Gen COO Bong Fean Loo during the official launch of Majestic Gen at EQ Kuala Lumpur. (Photo by Shahrill Basri/TheEdge)

KUALA LUMPUR (Feb 27): Majestic Group announced that it is rebranding its name to Majestic Gen Sdn Bhd during the official launching ceremony of Majestic Gen at EQ Kuala Lumpur hotel here on Tuesday.

Majestic Gen executive director Ta Wee Dher said that the rebranding exercise will position the company at the forefront of the real estate industry.

“In today’s dynamic market, staying relevant is crucial and that’s precisely our goal with this exercise," said Ta.

“Currently the company is more of a boutique developer. Moving forward, we have a lot of good land bank [about 530 acres undeveloped land] and want to unlock them. To do this, we need to go to the market to tell who we are to our buyers, stakeholders and bankers. We changed the name, the logo and the colour to look more refreshing. That will give Majestic Gen a distinctive identity,” said Majestic Gen CEO Hoo Kim See.

Following the rebranding exercise, Majestic Gen announced its plans to launch a total of 15 projects with a gross development value (GDV) of RM3.3 billion for 2024 (six projects) and 2025 (nine projects). To date, the company has completed projects worth a total GDV of RM1.7 billion.

The upcoming launches will involve residential, commercial and industrial developments in the Klang Valley, Selangor, Perak, Negeri Sembilan, Penang and Johor.

These upcoming developments will be integrated with energy-efficient solutions and sustainable materials such as solar panels, electric vehicle charging stations, facial recognition and smart home features. The company will strive to obtain GreenRE certification for its properties, said Hoo.

Following the rebranding exercise, the first project is expected to be launched in 3Q2024 with an estimated GDV of over RM200 million. It will be a serviced apartment project located on Jalan Klang Lama here. Further details will be announced in due course.

Majestic Gen will also be relocating its office from Pudu to Pavilion Damansara in 2Q2024.

In addition, Hoo also updated that Majestic Residences has achieved a 90% take-up rate. The residential project was launched in October 2023.

“We take pride in the overwhelming response to Majestic Residences, our ongoing property development. Since its launch in October last year, it has achieved an impressive 90% take-up rate. These strong sales figures underscore Majestic Gen’s diligence and adaptability in navigating the current challenges of the global property market,” said Hoo.

Majestic Residences has a GDV of RM384 million consisting of a 33-storey residential tower. It is located on Jalan Dewan Sultan Sulaiman.