KUALA LUMPUR: Chin Hin Group Property Bhd (CHGP) has announced a strategic expansion of its development portfolio with the acquisition of a prime industrial property in Kota Damansara, Selangor, for RM66mil.

The transaction marks the group's first major foray into the industrial and commercial development segment, diversifying its predominantly residential development portfolio.

The acquisition is being executed through CHGP's indirect wholly-owned subsidiary, Boon Koon Capital Sdn Bhd. The subject property, comprising a three-storey office cum factory building on 174,612.1 sq ft of leasehold land, is being acquired from Signature Cabinet Sdn Bhd, a wholly-owned subsidiary of Signature International Bhd.

CHGP group chief executive officer Chang Tze Yoong said: “This RM66 million acquisition represents a selective and strategic expansion into the industrial-commercial segment for CHGP. By securing this prime site in Kota Damansara, the group is acquiring a mature asset supported by an independent market valuation, with clear redevelopment potential into an integrated industrial-commercial hub with an estimated GDV of approximately RM449 million.

“While our core focus remains firmly on residential development, diversifying into high-demand industrial spaces allows us to broaden our earnings base and capture shifting market demands. Crucially, we are executing this while maintaining prudent financial management and a disciplined capital structure.”

CHGP plans to completely redevelop the Taman Sains Selangor 1 site into an integrated industrial-commercial hub designed to cater to logistics operators, light industrial users and commercial businesses. The location offers immediate connectivity to the LDP, NKVE and SPRINT highways, placing it at the centre of the Klang Valley’s established industrial corridors.

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