KUALA LUMPUR: Chin Hin Group Property Bhd, via its subsidiaries, has bought two plots of land in Segambut and Dutamas, both here.

Chin Hin Property (Segambut) Sdn Bhd, completed a development agreement with New York Empire Sdn Bhd and Kar Sin Bhd to develop a significant freehold land parcel in Segambut, covering around 6.49 hectares.

According to a statement today, the land is intended for either a residential development or a mixed-use project.

"The project is estimated to have a gross development value (GDV) of RM685.1 million, showcasing Chin Hin's commitment to delivering high-value propositions in the real estate market. 

"Under the agreement, Chin Hin shall be entrusted with comprehensive rights to design, develop, build, and market the project, demonstrating a seamless integration of expertise and capabilities," it said.

Another subsidiary, BKHS Capital Sdn Bhd, signed an agreement with Archmill Sdn Bhd and Suasa Sentosa Sdn Bhd to develop a freehold land plot in Dutamas, Kuala Lumpur.

The land, spanning 2.67 hectares, offers Chin Hin a chance to introduce innovative residential or mixed-use concepts designed to meet changing market needs.

The projected GDV for the project amounts to RM395.51 million.

"Similar to the Segambut project, Chin Hin shall be granted comprehensive rights to spearhead the design, development, and marketing efforts, ensuring a holistic approach to project execution," it added.

Chin Hin executive director Chiau Haw Choon said the acquisitions demonstrate the company's commitment to expanding and growing within the real estate industry.

"We are confident that our partnerships and expertise will enable us to deliver exceptional value to our stakeholders and contribute meaningfully to the urban landscape," he added.