PETALING JAYA: Chin Hin Group Property Bhd
(CHGP) has entered into a joint development agreement with Atlan Holdings Bhd for a mixed-use project in Johor Baru with a gross development value (GDV) of RM478.42mil.
In a filling with Bursa Malaysia, CHGP said the development would be spearheaded by its wholly owned subsidiary Chin Hin Property (Stulang) Sdn Bhd (CHPSSB) in collaboration with Atlan’s indirect subsidiary, Kelana Megah Sdn Bhd (KMSB).
Scheduled to launch in the third quarter of 2025 (3Q25) and expected to complete by 3Q29, the project will be built on a 4.29-acre leasehold land.
It will feature two blocks of serviced apartments, totalling 1,260 residential units, 10 retail lots, and multi-storey car parks. CHPSSB will have full control and management of the project.
“For the purpose of the project, both parties agree that CHPSSB shall have the full control and management of the project and shall carry out and complete each and every phase of the project upon the terms and subject to the conditions of the agreement,” CHGP noted.
This project involved amending an existing development plan initially approved for four blocks of serviced apartments, 14 shop lots, and multiple-storey car parks, of which KMSB had previously secured approval from the Johor State Economic Planning Unit on Jan 16, 2018.
The revised plan will reflect the new development concept agreed upon by KMSB and CHPSSB.
