Chin Hin Group Property Berhad will acquire a freehold parcel in Segambut for RM31.74 million, paving the way for a new high-rise residential development.
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 with Triple-H Auto Parts Sdn Bhd. The land is said to measure approximately 1.88 acres and is located at Lot 449, Tempat Segambut, Kuala Lumpur. The group plans for a high-rise serviced apartment development at the site.
Chang Tze Yoong, Group Chief Executive Officer of the Property Development Division, said,” Segambut’s strategic location and connectivity make it an ideal site for a modern, lifestyle-driven residential development.”
The proposed development on this prime land is estimated to have a Gross Development Value (GDV) of RM239.1 million and a Gross Development Cost (GDC) of RM203 million,
The project, which will comprise approximately 585 serviced apartment units, is expected to commence in 2027 and be completed by 2031.
