Is property beside Merdeka 118 a good investment?
The area deserves serious consideration. A major corporate anchor has physically moved in, the rail connection is real, and the precinct around it is still filling out. That is a more credible foundation than a location betting entirely on future tourism.
The landmark alone does not make every surrounding property a good investment. Entry price, unit selection, operating costs, management rules and competing supply matter just as much as the address — and in a building of 914 units, your biggest competitor on resale and on rent is the unit three floors up.
For MABA Suitez specifically, the case is strongest for a buyer who understands they are buying a compact, hospitality-oriented city property rather than a conventional family condominium. The right conclusion is not buy because it is beside Merdeka 118. It is shortlist the area, then test the actual unit.
First, the name
A lot of people still search for PNB 118, or KL118, or “property near PNB 118”. Those were the working names during construction. Today the wider development is the Merdeka 118 Precinct and the landmark tower is Menara Merdeka Maybank. If you have been researching under the old name, you have probably been reading older material — which matters here, because the facts on the ground changed in 2026.
The change of name does not change the investment question: does owning property beside Kuala Lumpur’s newest landmark make financial sense?
Why investors are watching this precinct
It is becoming an employment centre, not just a tall building
The most important demand driver is not the tower’s height. It is the number of people who work in it.
Maybank relocated its head office to Menara Merdeka Maybank in May 2026. The bank occupies 33 floors and has said the new headquarters will accommodate approximately 7,000 employees, including teams from Maybank Islamic and Maybank Investment Bank. That creates a substantial daily population of staff, customers, business travellers and the professional services that follow them.
An anchor tenant that has already moved in is worth more than three that are still “committed”.
Be careful how you use that number, though. It does not mean 7,000 people need accommodation nearby — most will commute, as they did to the old head office. What a corporate anchor of that size actually gives you is a floor under weekday demand: lunch trade, short business stays, secondment lets, and a reason for the area to be busy at 9am on a Tuesday. That is a more credible foundation than a precinct depending on tourists and future phases.
The mixed-use precinct is real, but it is not finished
Merdeka 118 is larger than one office tower. The precinct takes in Park Hyatt Kuala Lumpur, Stadium Merdeka, Stadium Negara, Merdeka Boulevard, a planned observation experience and 118 Mall.
118 Mall has not opened yet. It was widely reported in May 2026 as opening that August. That date slipped. As at the middle of October 2026 the current planned opening is November 2026 and the mall is still under construction. If you are reading an article that tells you the mall is trading, check the date on it. And if a projection you have been shown depends on mall footfall, treat that footfall as potential upside rather than present value.
A functioning mixed-use precinct can generate several kinds of demand at once — office workers on weekdays, visitors in the evenings and at weekends, hotel guests, event crowds at the stadiums and tourists working through the historic centre. That diversity is genuinely positive. It is also not yet fully switched on.
The rail connection is the strongest practical argument
MABA Suitez’s own project information places Merdeka MRT station about 160 metres away. Treat that as a supplied straight-line figure: the real walk depends on the final route, crossings and which entrance is open.
Merdeka sits on the MRT Kajang Line. From there Bukit Bintang is one station, Tun Razak Exchange is two, and Muzium Negara — the interchange for KL Sentral — is two stations the other way. Merdeka also connects to Plaza Rakyat LRT for the Ampang and Sri Petaling lines.
| From MABA Suitez | Distance | Note |
|---|---|---|
| Menara Merdeka Maybank | About 120 m | Supplied figure, straight line |
| Merdeka MRT (Kajang Line) | About 160 m | Supplied figure, straight line |
| Bukit Bintang | 1 station | From Merdeka MRT. Stations, not minutes |
| Tun Razak Exchange | 2 stations | From Merdeka MRT. Stations, not minutes |
| Muzium Negara for KL Sentral | 2 stations | From Merdeka MRT. Stations, not minutes |
This matters more than it would elsewhere, because MABA Suitez has far fewer parking bays than units: 391 conventional bays plus six EV bays for 914 suites, and parking is not automatically included. The investment case therefore leans on tenants and guests who are comfortable with rail, e-hailing and walking. If you cannot picture that tenant, this is not your building.
It sits between the corporate city and the old one
Jalan Hang Jebat puts you near Petaling Street, Central Market, Kwai Chai Hong, Stadium Merdeka and the older commercial streets around Chinatown. That gives the location a different character from a purely corporate address — weekend and evening life that does not switch off when the offices do.
Kuala Lumpur’s planning direction supports this too. The gazetted Kuala Lumpur Local Plan 2040 carries transit-oriented development incentives and planning controls intended to protect the visual setting of landmarks including Merdeka 118. That is a useful long-term signal. It is not a guarantee of capital appreciation for any individual unit.
Where MABA Suitez actually fits
MABA Suitez is 914 serviced apartments and office suites in two towers, with three layouts from 323 to 657 sq.ft. These are compact plans built around urban stays and letting flexibility, not family occupation.
| Layout | Who it might suit | What you must check first |
|---|---|---|
| Type A — 323 sq.ft. office suite |
The smallest entry point | Approved use, title category, financing treatment and utility tariff |
| Type B — 484 sq.ft. one bedroom + study |
A single professional or couple on a longer stay | Realistic achieved rents for comparable stock nearby |
| Type C — 657 sq.ft. dual key |
Letting both halves, or living in one and letting the other | Furnishing and turnover costs on two sections, not one |
There is no universal best layout here, and anyone who tells you otherwise without seeing the current price list is guessing. The development is also expected to run with a hospitality management element — so ask for the full management agreement, the fee schedule and the exit terms before you evaluate anything on a gross rental figure.
MABA Suitez, 120 metres from the tower
Two EXSIM towers on Jalan Hang Jebat: 914 serviced apartments and office suites from 323 to 657 sq.ft., a Level 6 podium with a full basketball court, and sky facilities above both roofs. The project page carries the floor plates, the facilities by level, the car park position and the statutory particulars — everything this article deliberately does not repeat.
The risks I would want you to read twice
Serviced apartment supply is heavy
MABA Suitez will compete not only with nearby developments but with the other units inside its own 914-unit building — on rent while you hold it, and on price when you sell. NAPIC’s 2025 property stock report puts existing serviced apartments in Kuala Lumpur in the region of 150,000, with substantial incoming and planned supply nationally. That does not prove the Merdeka 118 micro-market is oversupplied. It does show why you cannot assume a compact city unit fills itself.
Operating costs eat returns quietly
The quoted maintenance charge is RM0.99 per sq.ft. including sinking fund. On top of that, budget for furnishing, repairs, assessment tax, quit rent, insurance, utilities, agent fees, management charges and the months with no tenant in it.
Net rental yield is annual rent, less vacancy, maintenance, management, repairs, taxes and insurance, divided by your total acquisition cost. Loan instalments then come off separately when you work out monthly cash flow. If someone shows you a yield that skipped those steps, they have shown you a gross figure wearing a net label.
Short-stay use must be confirmed in writing
Being near tourist attractions does not mean short-term letting is permitted. Approved use, local authority requirements, management bylaws and the hospitality arrangement all govern it. Get written confirmation before you buy on that basis — and make sure the purchase still works under a medium or long-term tenancy if the answer comes back no.
Precinct timing is a live risk
Parts of the precinct are operating and parts are not. A delayed mall, observation deck or public connection affects early rental demand. Unfinished components are potential upside, not present value.
“Near” is not “connected”
I will not describe MABA Suitez as directly connected to Merdeka 118, to 118 Mall or to Merdeka MRT, because I have not seen a completed legal pedestrian connection. Walk the route yourself before you let that assumption into your numbers.
So who is this actually for?
| It may suit someone who | It may not suit someone who |
|---|---|
| Wants a compact property near rail and the central city | Needs generous parking or a quiet, low-density home |
| Can hold through vacancy or slower precinct build-out | Expects rent to cover every ownership cost immediately |
| Understands hospitality-style operation and its costs | Needs confirmed short-stay permission before the rules exist |
| Picks on price, title, floor, facing and real rental use | Is buying because Merdeka 118 is famous |
Ten things to check before you book
- The exact unit price and your total acquisition cost
- Title category and approved use
- Current financing terms for that title category
- Maintenance and sinking-fund charges
- Car park availability and cost — it is not automatic
- Short-stay permission and management rules, in writing
- Hospitality management fees and contract terms
- Unit facing, floor, and whether the view can be built out
- Recent asking and achieved rents for comparable units
- Exit competition from the other units in the same development
I can compare the available MABA Suitez units by layout, tower, floor, facing, title category and intended rental strategy before you decide anything. That comparison is the part that actually answers the question this article opened with.