Chin Hin Group Property Berhad has announced the acquisition of two new land banks, one in Segambut and the other in Dutamas KL.
The company’s subsidiary, sealed a Development Agreement with New York Empire Sdn Bhd and Kar Sin Bhd to develop a prime parcel of freehold land located in Segambut, Kuala Lumpur. The land, measuring approximately 6.49 acres, and is earmarked for a residential or mixed development project, with an estimated gross development value (GDV) of RM685.1 million
The other land is a freehold land parcel in Dutamas, Kuala Lumpur. This land, measuring approximately 2.67 acres, with an estimated GDV for this project is RM395.51 million. Similar to the Segambut project, CHGP shall be granted comprehensive rights to spearhead the design, development, and marketing efforts, ensuring a holistic approach to project execution it said.
Mr. Chiau Haw Choon, Executive Director of CHGP, expressed enthusiasm about the acquisitions, stating, “These strategic acquisitions underscore our commitment to growth and expansion in the real estate sector. We are confident that our partnerships and expertise will enable us to deliver exceptional value to our stakeholders and contribute meaningfully to the urban landscape.”
