CHIN Hin Group Property Bhd (CHGP), a Main Market-listed developer, has expanded its Kuala Lumpur landbank through the acquisition of a freehold parcel in Segambut for RM31.74 mil, thus paving the way for a new high-rise residential development.
This came on the back of the Chin Hin Group property arm having inked a development agreement for a new large-scale residential project in Taman Connaught, Cheras (also in the Federal capital) which boasts an estimated gross development value (GDV) of RM1.1 bil.
The acquisition was executed through BKHS Capital Sdn Bhd, a wholly-owned subsidiary of CHGP via BKG Development Sdn Bhd under a sale and purchase agreement (SPA) with Triple-H Auto Parts Sdn Bhd.
The 1.88-acre land located at Lot 449, Tempat Segambut will be developed into a high-rise serviced apartment project.
The proposed development on this prime land is estimated to fetch a GDV of RM239.1 mil and a gross development cost (GDC) of RM203 mil.
The project consisting of about 585 serviced apartment units is expected to commence in 2027 and slated for completion in 2031.
Located within a well-established neighbourhood and close to major highways, the site offers strong potential for urban residential demand, hence expected to contribute positively to CHGP’s earnings over the medium term.
“This acquisition strengthens CHGP’s foothold in Kuala Lumpur’s residential market,” envisages CHGP’s group CEO (Property Development Division) Chang Tze Yoong.
“Segambut’s strategic location and connectivity make it an ideal site for a modern, lifestyle-driven residential development. The project aligns with our focus on quality urban housing and supports our long-term growth strategy.”
This latest acquisition is part of CHGP’s on-going strategy to expand its property development portfolio across prime locations, thus reinforcing the group’s commitment to delivering sustainable growth and value to shareholders.
At 3.05pm, CHGP was down 1 sen or 0.82% to RM1.21 with 28,400 shares traded, thus valuing the property developer at RM1.6 bil. – Oct 17, 2025
