Chin Hin Group Property Unveils Plans for RM685 Million High-Rise Residential Project
Chin Hin Group Property Bhd (KL:CHGP) has disclosed further details on its upcoming high-rise development, which is expected to contribute significantly to the group’s pipeline over the next five years. In a filing with Bursa Malaysia, CHGP revealed that the project will deliver 2,434 serviced apartment units, alongside integrated car park and lifestyle facilities, with an estimated Gross Development Value (GDV) of RM685.1 million.
The development will take place on land currently occupied by Nation Drive Wilayah Sdn Bhd, which operates a driving school. However, CHGP confirmed that the vendor is contractually obligated to secure vacant possession prior to the project’s commencement.
Key Project Highlights
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Total Units: Approx. 2,434 serviced apartments
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GDV: RM685.1 million
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Gross Development Cost: RM575 million
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Target Construction Start: December 2025
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Expected Completion: December 2030
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Land Purchase Price: RM52 million
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Funding Sources:
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External borrowings
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Internal funds from CHGP and its subsidiary BKG Development Sdn Bhd
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Proceeds from unit sales
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“The board based the RM52 million land valuation on fair market estimates and the land’s high-density development potential,” CHGP stated in the filing.
Land Transaction: Caveat Settlement and Clear Title Assurance
CHGP also addressed a previous agreement concerning the land between the vendor and Frazel Group Sdn Bhd (FGSB). Under a sale and purchase agreement dated Sept 6, 2023, FGSB had lodged a private caveat on the property. However, both parties entered into a Deed of Revocation on April 24, 2024, effectively nullifying the earlier deal.
As part of the settlement:
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RM24 million of the purchase consideration will be paid directly to FGSB
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The caveat will be removed, allowing CHGP to take clear title to the land
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The final SPA ensures the land will be sold free from all encumbrances
This ensures clean legal access for CHGP to proceed with the upcoming development without title disputes.
Strategic Value: What the Project Means for Buyers and Investors
With over 2,400 residential units, the development is positioned to be one of the largest single-phase high-rise launches in Malaysia, targeting urban dwellers, first-time buyers, and property investors.
Potential Value Propositions:
✅ Affordability at Scale
By delivering thousands of units, CHGP can leverage economies of scale to offer more competitively priced units—a potential boon for first-time homebuyers.
✅ Urban Densification in Transit-Linked Zones
While the exact location has not been disclosed, CHGP’s land price and GDV ratio suggest a high-density area near existing urban infrastructure or future mass transit expansion corridors—which typically drive value appreciation and rental demand.
✅ Investment Potential
Projects of this scale often attract:
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Rental investors targeting urban professionals
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Bulk buyers or co-living operators
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Affordable home seekers priced out of prime locations
CHGP’s Broader Growth Strategy
This announcement reinforces Chin Hin Group’s aggressive push into high-rise urban development. Recent years have seen the group increase exposure to:
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Mixed-use city developments
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Affordable housing backed by volume-driven execution
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Transit-oriented residential models aligned with long-term demand in Greater KL and satellite cities
The use of internal funding via BKG Development Sdn Bhd shows the group’s commitment to strategic self-financing, reducing overreliance on external debt during early stages of land conversion and planning.
Market Outlook: Demand Drivers for Large-Scale High-Rises
While the residential market remains highly fragmented, large-scale high-rise projects continue to see interest due to:
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Urban migration and shrinking household sizes
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Affordable entry prices compared to landed homes
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Rising rental yield potential in areas with good accessibility
This project also aligns with government support for high-density, vertical urban planning that maximizes infrastructure investment and supports economic agglomeration.
Final Thoughts: A Mega Development with Urban Transformation Potential
CHGP’s RM685 million high-rise launch reflects confidence in Malaysia’s mid-market housing segment, as well as the group’s ability to unlock dense urban land for scalable development. With the project expected to kick off in late 2025, prospective buyers and investors should monitor pre-launch announcements for early-stage incentives, bulk deals, and potential investment-grade configurations such as dual-key units or rental guarantee packages.
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