KUALA LUMPUR: Main Market-listed property developers Chin Hin Group Property Bhd (CHGP) and YNH Property Bhd (YNH) disclosed a proposed land acquisition involving a prime freehold land parcel along Jalan Sultan Ismail, Kuala Lumpur, advancing plans for a landmark mixed-use development in the heart of the city’s Golden Triangle.
The land parcel, held under Lot 20002, Seksyen 57, Bandar Kuala Lumpur, measures about 10,564 sqm and is situated within one of Malaysia’s most established commercial, hospitality, and retail precincts.
Under the conditional sale and purchase agreement, YNH Land Sdn Bhd, a wholly owned subsidiary of YNH, and Chin Hin Property (JSI) Sdn Bhd, a subsidiary of CHGP, have agreed to a RM455 million land acquisition arrangement that will facilitate the development of the landmark mixed-use project.
The transaction is structured to allow both groups to achieve their respective strategic objectives. It enables CHGP to take the lead in developing the site with full execution control, while allowing YNH to unlock immediate value from a long-held prime asset and retain a 10% participation in future development.
The proposed development is expected to comprise service apartments, a hotel and retail components. Based on current conceptual metrics, the project carries an estimated GDV of RM3.6 billion and estimated Total Development Cost of about RM2.72 billion, subject to final development plans and statutory approvals.
For CHGP, the proposed acquisition represents a significant expansion of its Klang Valley development pipeline and firmly establishes its presence in Kuala Lumpur’s city centre.
CHGP executive chairman Datuk Wira Chiau Haw Choon said, “Opportunities to acquire a freehold development site of this scale and location in the city’s Golden Triangle are exceptionally rare. This proposed acquisition strengthens our landbank in high-demand urban corridors, directly aligning with our growth strategy and our commitment to high-quality project opportunities.
“We are approaching this project with a long-term mindset, under-pinned by disciplined execution, thoughtful planning, and responsible capital management.
“Our ambition is to create a development that contributes meaningfully to Kuala Lumpur’s evolving urban landscape while delivering sustainable value to our stakeholders for years to come.”
For YNH, the proposed transaction forms a core component of its ongoing capital recycling strategy, enabling the group to realise value from a strategic asset while strengthening its overall financial flexibility and balance sheet discipline.
YNH Property Bhd group managing director Yu Kai Leun stated: “Lot 20002 has been a central part of YNH’s portfolio for many years. This transaction allows us to unlock meaningful liquidity from a prime asset, strengthen our financial position, and retain a continuing participation in the asset’s future upside. For YNH, this represents a highly balanced outcome. We are converting a long-held landbank into immediate capital while preserving our connection to a landmark project.”
The proposed transaction is subject to the fulfilment of conditions precedent, including approvals from the shareholders of both CHGP and YNH at extraordinary general meetings to be convened, and other applicable regulatory approvals.
Barring unforeseen circumstances, and subject to the fulfilment of all conditions precedent, the proposed transaction is targeted for completion by the first half of 2027.