Chin Hin Group Property aims to launch RM3.73b worth projects in two years

KUALA LUMPUR (Feb 8): Chin Hin Group Property Bhd (CHGP) eyeing to unveil RM3.73 billion in gross development value (GDV) from on-going and future developments in the next two years.

In a media statement today, the company revealed that it will be spending approximately RM268 million to acquire 81.9 acres of land for the development of five different property projects situated in the Klang Valley. 

CHGP executive director Chiau Haw Choon said the company will be expanding their portfolio to various growth corridors in the Klang Valley such as Serendah, Bandar Kinrara, Bangsar South, and Cyberjaya.

Proposed developments including townships, serviced apartments, mixed-use developments and offices.

CHGP has proposed to acquire an 11.53-acre land in Cyberjaya for RM50.22 million, as part of the Group’s continuous efforts to replenish its landbank. Barring any unforeseen circumstances, the acquisition is expected to be completed by the second quarter of 2021.

“Estimated to generate RM1.1 billion in GDV, CHGP has proposed to construct a mixed-development on this freehold land that is currently vacant” he added.

CHGP has two ongoing projects – Aera Residence and 8th & Stellar. Aera Residence is a serviced apartment project in Petaling Jaya, with an estimated GDV of RM332 million. Meanwhile, 8th & Stellar is a two-tower mixed-use development comprising serviced apartments, duplex lofts, office space and shoplots on a 2.2-acre leasehold tract in Sri Petaling. Its estimated gross development value is RM470 million. 

Get the latest news @ www.EdgeProp.my

Subscribe to our Telegram channel for the latest stories and updates 

Click here for more property stories