KUALA LUMPUR: Chin Hin Group Property Bhd (CHGP) recently announced its acquisition of two new land banks in Kuala Lumpur, expressing its strategic expansion into the real estate sector. 

Chin Hin Property (Segambut) Sdn Bhd, a subsidiary of CHGP, 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 is approximately 6.49 acres and is set to be a residential or mixed development project with a gross development value (GDV) of RM685.1mil. 

The second landbank is approximately 2.67 acres in Dutamas, Kuala Lumpur. CHGP's subsidiary, BKHS Capital Sdn Bhd, entered into a development agreement with Archmill Sdn Bhd and Suasa Sentosa Sdn Bhd to develop the freehold parcel. Its estimated GDV is RM395.51mil.

In both projects, CHGP was granted comprehensive rights to spearhead the design, development, and marketing efforts.

"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," CHGP executive director Chiau Haw Choon said.

Malton operates primarily in Klang Valley, Penang and Melaka. Its portfolio includes Ayanna Resorts Residence at Bukit Jalil, Quaver Residence at Sungai Besi, Aera Residence at Petaling Jaya and Novum at Bangsar South.

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