Chin Hin Group Property acquires 26-acre Seri Kembangan land for new residential development

Chin Hin Group Property Bhd (CHGP) has announced the acquisition of a 25.9-acre parcel in Seri Kembangan for RM91 million cash, paving the way for a new residential township bordering Kuala Lumpur — a location that continues to attract strong demand due to its proximity to mature commercial property in KL and major industrial zones in Selangor.

According to its latest filing, the land will be purchased through its subsidiary, Chin Hin Property (KL) Sdn Bhd, from Trident Treasure Sdn Bhd. The upcoming development, slated to begin in the fourth quarter of 2026, carries an estimated gross development value (GDV) of RM560 million, with a projected development cost of RM448 million. Completion is targeted for the end of 2029.

The land currently holds approval for a high-rise apartment project, but the landowner has applied to amend the plan to 380 units of three-storey terrace homes — a configuration that typically appeals to families working in nearby commercial hubs, office space in Bukit Jalil, and industrial clusters such as the Subang area and Puchong.

CHGP said it was unable to verify the land’s net book value as the data was not disclosed by the seller. No formal valuation was commissioned, though the company referenced informal input from an experienced valuer who estimated surrounding land values at RM70 to RM85 per sq ft depending on parcel size and development potential. The acquisition price works out to roughly RM80 per sq ft, landing it near the upper end of that range.

The group expects to finance the purchase through a mix of internal funds and bank borrowings. The acquisition is anticipated to be completed by August 2026.

Corporate records show that Trident Treasure is majority-owned (60%) by Istilah Makmur Sdn Bhd, with the remaining 40% held by Winax Development Sdn Bhd — the latter being a wholly owned subsidiary of Talam Transform Bhd (TALAMT). Istilah Makmur’s shareholders comprise Choo Choon Seng and Tee Chai Seng (41.66% each) and Tan Huck Joo and Tan Che (8.33% each).

Shares in Chin Hin Group Property closed one sen lower at RM1.18, giving the developer a market value of RM1.57 billion.