Chin Hin Group Secures Strategic Land in Segambut After Exiting JV with YNH Property
The Kuala Lumpur property landscape sees a strategic shift as Chin Hin Group Property Bhd (KL:CHGP) moves forward with the direct acquisition of a 6.49-acre parcel in Segambut, originally earmarked for a joint development with YNH Property Bhd (KL:YNHPROP).
Instead of co-developing the land into serviced apartments under a previous agreement signed in April 2024, both parties have mutually agreed to terminate the joint venture and proceed with a straightforward land deal.
What Changed?
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Original Plan: Joint development of a high-rise serviced apartment project with a GDV of RM685.1 million
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New Direction: Chin Hin will now fully acquire the land and independently lead future development
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Purchase Price: The RM52 million security deposit paid earlier is being converted into the full purchase consideration
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Land Owner: New York Empire Sdn Bhd remains the registered proprietor but has agreed to the direct sale route
The deal was formalised via filings to Bursa Malaysia on Tuesday, with both YNH and Chin Hin confirming mutual release from all prior obligations.
Why It Matters: Segambut’s Rising Development Appeal
Segambut is increasingly viewed as a growth corridor in Kuala Lumpur due to:
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Proximity to Mont Kiara, KL City Centre and the upcoming MRT3 Circle Line
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Ongoing urban regeneration with new mid- to high-rise residential and commercial projects
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Affordable land prices compared to Mont Kiara or Bangsar, yet offering similar accessibility
For Chin Hin, this acquisition aligns with its long-term land banking strategy targeting high-growth urban pockets.
“This land allows us to scale our residential or mixed-use ambitions in a location that is rapidly transforming,” said a Chin Hin representative.
Potential Development Outlook
While no detailed plans have been announced yet, industry watchers expect Chin Hin to explore:
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Mid- to high-density serviced apartments or condominiums
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A lifestyle-oriented mixed-use development, integrating residential with F&B and co-working spaces
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Possible alignment with transit-oriented development (TOD) concepts if MRT3 plans progress nearby
This approach could mirror recent trends in KL where developers leverage urban edge zones like Segambut to deliver competitively priced yet well-connected homes for upgraders and investors.
What’s Next for YNH Property?
For YNH Property Bhd, the exit allows the company to:
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Monetise the land parcel immediately amid ongoing restructuring of its development pipeline
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Refocus resources on core high-rise projects such as in Mont Kiara, KL City Centre, or Manjung, Perak
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Reduce exposure to operational complexity by offloading JV obligations
The move is seen by analysts as part of YNH’s asset-light strategy amid a challenging year for the developer, whose stock has declined nearly 40% year-to-date.
Market Watch: Investor Reaction
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YNH Property (KL:YNHPROP) closed 2.99% lower at RM0.32
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Chin Hin Group Property (KL:CHGP) remained unchanged at RM1.07, with analysts noting the land acquisition as a neutral to positive move given its long-term strategic value
Final Thoughts: Who Benefits from This Deal?
This realignment benefits:
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Chin Hin, gaining full control over the project timeline and design direction
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YNH, unlocking cash flow and reducing JV liabilities
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Homebuyers and investors, who could soon access new options in a redeveloping Segambut corridor that offers connectivity, value and long-term growth
