The Malaysian Anti-Corruption Commission (MACC) has arrested two former real estate executives as part of its investigation into Felda investment Corporation's (FIC) purchase of the four-star Kensington Hotel in London.

MACC in a statement today said the duo were arrested at 1pm when they presented themselves at the MACC headquarters to give their statement.

"Based on the investigation, the two were suspected of manipulating the hotel price (valuation) resulting in FIC overpaying tens of millions," it said.

MACC said when the purchase of the hotel was underway between 2013 and 2015, the two served as chief corporate adviser and director respectively at the real estate agency Raine and Home.

FIC had reportedly purchased the hotel for £60 million (RM330 million).

The 45-year-old suspect is now a director at a management consultancy company, while the 36-year-old suspect works as an asset unit chief at a postal company.

MACC deputy commissioner (operations) Azam Baki said the duo are expected to be remanded tomorrow to facilitate the investigation.

The commissioner has to date recorded statements from 11 witnesses.

It added that more arrests may follow.