Property developer Thriven Global Bhd has placed its 1.99-acre land in Section 13, Petaling Jaya, on the market through an expression of interest (EOI) exercise, with an asking price of approximately RM54 million, or RM625 per sq ft (psf).
The site, known as Lot 53, is located along Jalan Professor Khoo Kay Kim (formerly Jalan Semangat), with the EOI exercise set to close on July 8.
The land previously housed the corporate office of Mudajaya Group Bhd, but is currently occupied by Flour, Fire & Stone café and pickleball club Pickle Park, both operated by Kenny Hills Hospitality Group.
In 2018, Thriven — then known as Mulpha Land Bhd — had planned a RM317 million mixed development, known as Lumi Section 13, comprising a 42-storey residential tower with 310 serviced units. However, the project was later shelved.
The sale is being exclusively marketed by Zerin Properties.
Section 13’s Urban Transformation
Located near mature neighbourhoods such as SS2, SS19, SEA Park, and Taman Paramount, Section 13 has gradually transformed from an industrial district into a mixed-use residential and commercial area.
Industry observers say redevelopment efforts have been supported by rezoning initiatives from the Petaling Jaya City Council (MBPJ), encouraging developers to acquire former industrial land for new projects.
According to market experts, former factory sites in the area have been redeveloped into projects including Jaya 33, Plaza 33, Atwater, Ryan & Miho, Pacific Tower, and Pacific 63 Residence.
The precinct is also seeing increased activity from upcoming developments, including redevelopment of the former Dutch Lady factory, the old Kickapoo bottling plant, and land linked to Tan Chong.
Recent land transactions in the area have reportedly ranged between RM515 and RM650 psf, reflecting continued investor interest.
Industry players say Section 13 remains attractive due to its central Petaling Jaya location, highway accessibility, and growing mix of residential, commercial, lifestyle, and digital infrastructure developments.
At RM625 psf, Thriven’s asking price is considered within the upper range of recent comparable transactions in the area.
Shares in Thriven Global closed at seven sen last Thursday, valuing the company at approximately RM38.29 million.
