MAIN Market-listed developer Chin Hin Group Property Bhd (CHGP) has acquired two contiguous parcels of leasehold land in Taman Puncak Jalil, Selangor for RM91 mil to strengthen its development pipeline in one of Greater Kuala Lumpur’s most active landed housing corridors.
The acquisition was executed by Chin Hin Property (KL) Sdn Bhd, a wholly-owned subsidiary of BKG Development Sdn Bhd via a sale and purchase agreement (SPA) with Trident Treasure Sdn Bhd. The land parcels measure a combined 104,714.99 sq metres (around 1.13 million sq ft).
CHGP plans to develop the land parcels into a landed residential development comprising 380 units of three-storey terrace homes (20’×70’), thus replacing the previously approved scheme of semi-detached units and apartments under the earlier master plan.
The switch to terrace units is expected to deliver stronger sales absorption, reduce construction complexity and offer a more commercially attractive product mix that complements the nearby developments.
This will therefore position the project as a premium-yet-accessible landed offering for discerning upgraders seeking quality living within an established affluent corridor.
Based on internal feasibility studies, the project carries an estimated gross development value (GDV) of RM560 mil and gross development cost (GDC) of RM448 mil, thus yielding an anticipated gross profit of approximately RM112 mil.
Subject to authority approvals, planning permission is anticipated to commence in May 2026 with the project targeted for launch in 4Q 2026 and completion by end-2029.
The acquisition will be funded through a combination of internally generated funds and bank borrowings with the final composition to be determined based on gearing and cash-flow planning.
“Landed housing in Greater Kuala Lumpur continues to demonstrate resilient demand, especially among young families and upgraders seeking practical layouts and long-term liveability,” commented group CEO (Property Development division) Chang Tze Yoong.
“This acquisition fits our strategy of focusing on high-demand residential products while expanding our footprint in growth corridors. With a GDV of RM560 mil, the Puncak Jalil project will be an important contributor to our development pipeline over the next few years.”
Very broadly, CHGP views the acquisition as a strategic addition to its landbank within Greater KL alongside its on-going developments such as Quaver Residence, Ayanna Resort Residences, Avantro Residences, Solarvest Suites, Crown Penang, Andalan, Aricia, Dawn KLCC and Botanica Hills.
The group remains focused on strengthening its core property development business and delivering sustainable long-term growth through disciplined capital deployment and market-driven product planning.
At the close of today’s (Nov 26) market trading, CHGP was unchanged at RM1.19 with no transaction recorded, thus valuing the company at RM1.58 bil. – Nov 26, 2025
