PETALING JAYA: Chin Hin Group Property Bhd (CHGP) has announced the acquisition of two contiguous parcels of leasehold land in Taman Puncak Jalil, Selangor for a total consideration of RM91mil. Measuring 25.87 acres, CHGP said it plans to develop the parcel into a landed residential development comprising 380 units of three-storey terrace homes.
“Landed housing in Greater Kuala Lumpur continues to demonstrate resilient demand, especially among young families and upgraders seeking practical layouts and long-term liveability. This acquisition fits our strategy of focusing on high-demand residential products while expanding our footprint in growth corridors.
“With a GDV of RM560 million, the Puncak Jalil project will be an important contributor to our development pipeline over the next few years,” said property development division group chief executive officer Chang Tze Yoong.
CHGP said based on internal feasibility studies, the project is expected to yield a gross profit of approximately RM112mil. Subject to authority approvals, planning permission is anticipated to commence in May 2026 with the project targeted for launch in 4Q 2026 and completion by end-2029.
The acquisition will be funded through a combination of internally generated funds and bank borrowings.
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