CHGP Completes Seri Kembangan Land Acquisition For Landed Project
Chin Hin Group Property Bhd has completed the acquisition of two leasehold land parcels in Seri Kembangan, Selangor, for RM91 million, paving the way for a planned landed residential development with an estimated gross development value of RM560 million.
The acquisition was completed after the group fully settled the purchase price to the vendor’s solicitors, according to its Bursa Malaysia filing. The purchase was undertaken through CHGP’s wholly owned indirect subsidiary Chin Hin Property (KL) Sdn Bhd, formerly known as Tebrau Land Sdn Bhd.
The land was acquired from Trident Treasure Sdn Bhd under a sale and purchase agreement dated Nov 26, 2025. The two parcels, identified as PT 62420 and PT 62421 in Taman Puncak Jalil, Bandar Putra Permai, have a combined land area of 104,714.99 sq m, or about 1.13 million sq ft.
At RM91 million, the acquisition works out to approximately RM80 per sq ft. CHGP said the purchase price was agreed on a willing-seller, willing-buyer basis, with indicative surrounding land values estimated between RM70 and RM85 per sq ft based on informal discussions with a valuer familiar with the area.
This is a direct property update because the acquisition is tied to a specific landbank, a defined development plan and a clear future residential supply pipeline in Seri Kembangan.
Planned 380 Units Of Three-Storey Terrace Houses
CHGP plans to develop the land into 380 units of three-storey terrace houses, subject to approvals under a proposed amended planning permission submitted by the vendor.
The project has an estimated GDV of RM560 million and an estimated gross development cost of RM448 million. Construction is expected to begin in the fourth quarter of 2026, with completion targeted by end-2029.
The proposed landed format is notable. Much of the Klang Valley’s new residential supply, especially in connected suburban areas, has been dominated by high-rise serviced apartments, condominiums and mixed-use projects. A planned 380-unit terrace house development gives CHGP a different product profile from its higher-density urban projects.
For Seri Kembangan and Taman Puncak Jalil, landed housing continues to appeal to families and upgraders who want more space, clearer household separation and a stronger long-term own-stay proposition. Three-storey terrace houses can serve buyers who need extra rooms, work-from-home areas, multi-generational living space or better flexibility than compact high-rise units.
However, three-storey homes are not for every household. Buyers will still need to assess staircase practicality, layout efficiency, bedroom placement, elderly-friendly living arrangements, car porch size, maintenance responsibility and the surrounding road network.
Why The Location Matters
The land is located in Taman Puncak Jalil, Bandar Putra Permai, within the broader Seri Kembangan area. This part of Selangor sits within a mature suburban corridor connected to Puchong, Bukit Jalil, Seri Kembangan, Serdang and the southern side of Kuala Lumpur.
Seri Kembangan has become increasingly relevant because it offers access to established amenities while remaining more suburban than central KL. The area benefits from surrounding population growth, education institutions, neighbourhood retail, highway access and proximity to larger growth nodes such as Bukit Jalil, Serdang, Putrajaya, Cyberjaya and Puchong.
For landed homes, surrounding township maturity is important. Buyers are usually not only purchasing the house itself. They are looking at schools, groceries, clinics, food options, traffic patterns, security, accessibility and whether the area can support family life over a long holding period.
Taman Puncak Jalil and Bandar Putra Permai already have a residential base, which may help the project appeal to buyers familiar with the area. This is different from buying into a completely new township where amenities may take many years to form.
Land Cost And Project Economics
The land cost of approximately RM80 per sq ft appears to sit within the indicated surrounding range of RM70 to RM85 per sq ft mentioned by CHGP. This provides some context for the transaction, although buyers and investors should understand that land cost alone does not determine project success.
The estimated GDV of RM560 million against an estimated GDC of RM448 million gives a broad view of the project’s development scale. The actual margin will depend on approval outcomes, infrastructure requirements, construction costs, financing costs, launch pricing, sales pace and market conditions closer to launch.
For a landed residential project, infrastructure and site planning are especially important. Roads, drainage, utilities, slope or earthwork requirements, security planning, landscaping and common facilities, if any, can materially affect development cost and buyer perception.
The acquisition is funded through internally generated funds and bank borrowings, with the final funding mix to be determined after considering CHGP’s gearing, interest cost and cash reserves. This is a typical approach for landbank expansion, but the timing matters because interest rates, construction costs and buyer affordability can shift before the project is launched and completed.
A Strategic Addition To CHGP’s Landbank
CHGP said the acquisition is in line with its strategy to source new landbank and expand its property development segment.
That statement is consistent with the group’s recent landbank activity. CHGP has been active in identifying development opportunities across the Klang Valley, including urban and suburban sites with different product possibilities. The Seri Kembangan acquisition adds a landed residential component to its pipeline, which helps diversify its development exposure.
This is important because a developer with only high-rise products may become more exposed to the condominium and serviced apartment cycle. Landed homes tend to follow a different demand pattern. In the Klang Valley, landed supply in mature locations remains comparatively limited because suitable land is harder to assemble and often more expensive.
For CHGP, the project can help broaden its buyer base. Instead of only targeting investors, city-centre buyers or high-rise purchasers, the Seri Kembangan landed project can appeal to families, upgraders and long-term own-stay buyers.
Still, the project is not risk-free. Landed housing buyers are often highly location-sensitive. They compare access roads, neighbourhood quality, frontage, house dimensions, renovation potential, developer reputation and price against existing subsale landed homes nearby. CHGP will need to position the project carefully when it eventually launches.
Leasehold Tenure And Buyer Considerations
The two land parcels are leasehold for 99 years, expiring on June 9, 2103. For new landed projects, leasehold tenure is not necessarily a deal-breaker, but buyers should factor it into long-term planning.
In many Klang Valley suburbs, leasehold landed homes remain actively traded, especially when the location, pricing and house design are attractive. However, freehold landed homes may still command a premium in certain buyer segments. This means CHGP’s eventual pricing and product positioning must be realistic against both leasehold and freehold alternatives in the broader Seri Kembangan, Puchong and Bukit Jalil surroundings.
For own-stay buyers, the more practical questions may include affordability, space, location, road access and neighbourhood quality. For investors, leasehold tenure, holding period, resale demand and future competition may carry greater weight.
The long remaining lease period until 2103 gives the project sufficient tenure for normal residential use, but buyers should still understand the distinction between leasehold and freehold before committing.
What The Deal Does Not Guarantee
The completion of the acquisition does not automatically mean the project will proceed exactly as planned. CHGP’s proposed development of 380 three-storey terrace houses is still based on amended planning permission submitted by the vendor and remains subject to approvals.
The construction timeline is also forward-looking. The group expects construction to begin in the fourth quarter of 2026 and complete by end-2029, but actual timing may depend on approvals, market conditions, financing, contractor availability and site readiness.
It also does not automatically indicate that all landed projects in Seri Kembangan will see stronger demand. The Klang Valley landed market is selective. Buyers will respond to the right combination of location, price, layout, land size, road access and developer delivery.
The more grounded interpretation is that CHGP has secured a sizeable residential landbank at an indicative market-aligned land cost and is preparing a landed product in a mature suburban corridor. Whether the project performs well will depend on execution and pricing.
Conclusion: A Landed Pipeline Move In A Mature Growth Corridor
CHGP’s completion of the RM91 million acquisition in Seri Kembangan gives the group a sizeable leasehold landbank for a planned 380-unit three-storey terrace house development.
With a combined land area of about 1.13 million sq ft, an estimated GDV of RM560 million and targeted completion by end-2029, the project represents a meaningful landed residential addition to CHGP’s pipeline. Its location in Taman Puncak Jalil, Bandar Putra Permai, places it within a mature Klang Valley suburban corridor with access to established neighbourhoods and surrounding growth areas.
For buyers, the future project will be worth watching if they are looking for landed homes in the Seri Kembangan, Puchong and Bukit Jalil belt. The key details to assess later will be launch pricing, house dimensions, layout practicality, access roads, facilities or security features, and how the leasehold tenure is reflected in the final value proposition.
For CHGP, the acquisition supports its landbank expansion strategy and gives the group a different product angle from high-rise urban developments. The opportunity is clear, but the eventual success of the project will depend on approvals, cost control, market timing and whether the final homes meet the practical expectations of landed family buyers.
