MAIN Market-listed developer Chin Hin Group Property Bhd (CHGP) has inked a development agreement for a new large-scale residential project in Taman Connaught, Cheras in the Federal capital which boasts an estimated gross development value (GDV) of RM1.1 bil.
The project will be undertaken by the group’s indirect wholly-owned subsidiary Avion Connaught Sdn Bhd (ACSB) following execution of the development agreement with Grand Uptown Sdn Bhd which is proprietor of the 99-year leasehold land measuring approximately five acres.
Pursuant to the development agreement, ACSB will implement and complete the development by paying RM103 mil to obtain full development rights for the project.
These rights grant ACSB complete authority over design, construction, marketing, sales and all proceeds from the development.
The proposed development comprising high-rise residential towers complemented by retail and parking components is expected to commence in 2Q 2026 and slated for completion by 2Q 2031.
The project is anticipated to deliver pre-tax profit of approximately RM210 mil to Chin Hin which would translate into a pre-tax margin of around 18%. Funding will come from a mix of internal resources and bank borrowings.
“The Taman Connaught project represents a significant addition to Chin Hin’s Kuala Lumpur development pipeline,” enthused Chin Hin Group Property’s group CEO (Property Development Division) Chang Tze Yoong.
“It fits our strategy of pursuing high-quality residential projects in prime urban areas with long-term demand potential. With a GDV exceeding RM1 bil, the project is expected to contribute meaningfully to our medium-term earnings.”
More broadly, the appointment reflects Chih Hin’s disciplined approach to securing quality developments in growth markets by supporting its objective of building a strong and sustainable pipeline of residential projects in Kuala Lumpur and other key regions.
At 3.16pm, Chin Hin Group Property was up 1 sen or 0.93% with 2.76 million shares traded, thus valuing the company at RM1.61 bil. – Oct 16, 2025
