The Taman Connaught project is expected to contribute meaningfully to CHGP’s medium-term earnings, Chang said.
PETALING JAYA: Chin Hin Group Property Bhd (CHGP), announced that it has entered into a Development Agreement for a new large-scale residential project in Taman Connaught, Kuala Lumpur, with an estimated gross development value (GDV) of RM1.1 bil.
The project will be undertaken by Avion Connaught Sdn Bhd (ACSB), CHGP’s indirect wholly-owned subsidiary, following the execution of a Development Agreement with Grand Uptown Sdn Bhd (GUSB), the proprietor of the 99-year leasehold land measuring approximately 5 acres.
The proposed development—comprising high-rise residential towers complemented by retail and parking components—is expected to commence in the second quarter of 2026 and be completed by the second quarter of 2031.
“The Taman Connaught project represents a significant addition to CHGP’s Kuala Lumpur development pipeline. It fits our strategy of pursuing high-quality residential projects in prime urban areas with long-term demand potential. With a GDV exceeding RM1 billion, the project is expected to contribute meaningfully to our medium-term earnings,” said property development division group chief executive officer Chang Tze Yoong.
CHGP said the project is anticipated to deliver a profit before tax of approximately RM210mil, translating into a pre-tax margin of around 18%, with funding expected to come from a mix of internal resources and bank borrowings.
Stay ahead of the crowd and enjoy fresh insights on real estate, property development and lifestyle trends when you subscribe to our newsletter and follow us on social media.
