In a filing with Bursa Malaysia on Friday, CHGP said the land is presently occupied by Nation Drive Wilayah Sdn Bhd, which operates a driving school.
The project's development cost is estimated at RM406.
Chin Hin is to develop a 2,434-unit serviced apartment on the plot, which it estimated will cost about RM575 million.
As part of the deal, Chin Hin Group will award construction works of the development to a member company of the Ivory group as the turkey builder.
The construction segment’s profit before tax (PBT) surged more than seven-fold to RM8.
The first two property projects taking part in AFFIN Home Step Fast/i will be Ayanna Residences and Quaver Residence.
Its subsidiary Chin Hin Group Property Bhd is planning two new launches in 2023, being Avantro Residences in Bandar Kinrara and Ayanna Resort Residences in Bukit Jalil, with a total gross development value (GDV) of RM1.
KUALA LUMPUR (Dec 13): Chin Hin Group Property Bhd (CHGP) rose as much as 1.
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