Kuala Lumpur, April 24, 2024 – Chin Hin Group Property Berhad (CHGP) is proud to announce the acquisition of two new land banks, solidifying its commitment to strategic expansion and development in the real estate sector. CHGP, through its subsidiaries, has entered into Development Agreements with esteemed partners, marking significant milestones in the company’s growth trajectory.

Land 1: Segambut Development

CHGP’s subsidiary, Chin Hin Property (Segambut) Sdn Bhd, has 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, is earmarked for a residential or mixed development project, reflecting CHGP’s vision for innovative urban living solutions.

The project is estimated to have a gross development value (GDV) of RM685.1 million, showcasing CHGP’s commitment to delivering high-value propositions in the real estate market. Under the agreement, CHGP shall be entrusted with comprehensive rights to design, develop, build, and market the project, demonstrating a seamless integration of expertise and capabilities.

Land 2: Dutamas Development

In another strategic move, CHGP’s subsidiary, BKHS Capital Sdn Bhd, has entered into a Development Agreement with Archmill Sdn Bhd and Suasa Sentosa Sdn Bhd to develop

a freehold land parcel in Dutamas, Kuala Lumpur. This land, measuring approximately 2.67 acres, presents an exciting opportunity for CHGP to introduce innovative residential or mixed-use concepts tailored to meet evolving market demands.

The estimated GDV for this project is RM395.51 million, underscoring CHGP’s commitment to delivering sustainable value and enriching communities through thoughtful development initiatives. 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. 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.”