Chin Hin acquires land in Segambut for RM52mil

PETALING JAYA: Chin Hin Group Property Bhd (CHGP) has entered into a sale and purchase agreement with New York Empire Sdn Bhd and Kar Sin Bhd for the acquisition of a strategically positioned 6.49-acre parcel of freehold land located in Segambut, Kuala Lumpur, for RM52mil.

In a statement, the property developer said the acquisition transitions from a previous joint development agreement signed in April 2024, providing CHGP full ownership and development rights.

“Originally planned as a collaborative development between CHGP and Kar Sin, the land will now be independently developed by CHGP into a residential or mixed development project.

“The acquisition supports CHGP's ongoing strategy of expanding its property portfolio by securing strategically located land within high-potential areas of Kuala Lumpur.”

CHGP said plans to develop a high-rise development on the newly acquired land, subject to obtaining the necessary regulatory approvals.

“The project aims to meet the growing demand from young professionals, families, and local businesses seeking integrated developments offering convenient living and lifestyle amenities.”