MAIN Market-listed property developer Chin Hin Group Property Bhd (CHGP) has through its indirect wholly-owned subsidiary Chin Hin Property (Tebrau) Sdn Bhd acquired a prime industrial property in Kota Damansara, Petaling Jaya, for RM92.5 mil.
The deal follows the inking of a sale and purchase agreement (SPA) with registered proprietor Simm Ventures Sdn Bhd.
The asset is located within the established Selangor Science Park 1 industrial zone and encompasses a 99-year leasehold land plot measuring approximately 21,578 sq metres (232,264 sq ft) with the lease expiring on Oct 18, 2106.
The site currently features a vacant 20-year-old detached single-storey factory and warehouse annexed with a two-storey office that spans a total built-up area of approximately 75,349 sq ft.
“This proposed acquisition gives CHGP access to a well-located industrial site within an established business and logistics corridor,” commented CHGP’s group CEO Chang Tze Yoong.
“The demand for functional warehouse and industrial spaces in Klang Valley remains supported by business expansion, e-commerce, distribution and light industrial activities.”
While residential development remains a key part of the group’s business, CHGP is striving to build a more balanced property development pipeline.
“This project allows us to participate in the industrial and logistics space in a measured way with a clear re-development plan and a sizeable GDV (gross development value),” envisages Chang.
“Our focus remains on disciplined landbanking, practical product planning and timely project execution. We’ll continue to evaluate sites that fit market demand and can contribute positively to the group over the medium to long term.”
Following the acquisition, CHGP intends to optimise the acquired site by fully re-developing it into a modern stratified logistics warehouse hub.
The proposed project will introduce approximately 322 units to the market, backed by an estimated GDV of RM612 mil.
Given the site’s excellent connectivity to major highways, the planned logistics hub is positioned to capture strong captive demand from e-commerce operators, distribution players, light industrial users and SMEs looking for practical warehouse spaces in a central Klang Valley location.
At 10.15am, CHGP was untraded on Bursa Malaysia. The counter closed yesterday’s (June 3) trading down 2 sen or 1.87% with 80,000 shares traded, thus valuing the company at RM1.46 bil. – June 4, 2026
