Chin Hin Group Property Proposes RM455 Million Jalan Sultan Ismail Land Acquisition for RM3.6 Billion Development

Chin Hin Group Property Berhad and YNH Property Berhad have announced a proposed RM455 million land transaction involving a freehold site along Jalan Sultan Ismail in central Kuala Lumpur.

The proposed acquisition was announced on July 8, 2026. Under a conditional sale and purchase agreement, YNH Land Sdn Bhd will sell the property to Chin Hin Property (JSI) Sdn Bhd, a subsidiary of Chin Hin Group Property.

The land is held under Lot 20002, Seksyen 57, Bandar Kuala Lumpur and measures approximately 10,564 square metres, or about 113,710 sq ft. It is located along Jalan Sultan Ismail, opposite the Concorde Hotel Kuala Lumpur, within the city’s established commercial, hotel and retail district.

The site is freehold and is currently described as vacant commercial development land. Chin Hin Group Property plans to lead the redevelopment of the parcel, subject to the completion of the proposed acquisition, final development plans and the required statutory approvals.

Mixed-Use Development Planned

Based on the current concept, the site is intended for a mixed-use development comprising serviced apartments, a hotel and retail components.

Chin Hin Group Property has placed the project’s preliminary gross development value at approximately RM3.6 billion. The estimated total development cost is approximately RM2.72 billion.

Both figures remain based on current conceptual planning and may change as the development design, approvals, product mix and implementation programme are finalised.

The company has not announced the project’s marketing name, number of units, building height, floor plans, sales launch date, pricing, hotel operator, retail tenant mix or expected completion date. The current announcement relates to the proposed land transaction and preliminary development concept.

Transaction Includes Continued Participation by YNH and EC Properties

The proposed transaction has been structured to give Chin Hin Group Property responsibility for leading and executing the development while allowing other parties to retain participation in the project.

According to the announcement, EC Properties (M) Sdn Bhd is expected to retain a 30% participation, while YNH will retain a 10% participation. Chin Hin Group Property will assume development control and execution responsibility through the acquiring entity.

YNH’s retained interest means the transaction is not structured as a complete exit from the site’s future development. The arrangement will allow YNH to receive proceeds from the land sale while maintaining exposure to the project through its remaining participation.

The RM455 million acquisition consideration is expected to comprise a combination of cash, redeemable preference shares and ordinary shares in the project company.

Reports on the transaction stated that approximately RM409.48 million would be paid in cash, with RM45.5 million represented by redeemable preference shares and RM25,000 through ordinary shares.

The final settlement remains subject to the conditions set out in the transaction documents.

Approvals Required Before Completion

The proposed acquisition is conditional and has not yet been completed.

It requires the fulfilment of conditions precedent, including approval from the shareholders of Chin Hin Group Property and YNH Property at their respective extraordinary general meetings. Other regulatory and transaction approvals may also be required.

The companies have indicated that the transaction is targeted for completion by the first half of 2027, barring unforeseen circumstances and subject to all conditions being met.

The planned development will also require separate planning, building and statutory approvals before construction or sales activity can proceed.

As a result, the RM3.6 billion project remains at the proposed acquisition and conceptual planning stage. The current announcement does not represent a confirmed property launch or approval of the final development plan.

Chin Hin Group Property Expands City-Centre Pipeline

Chin Hin Group Property said the proposed acquisition would expand its development pipeline in the Klang Valley and establish a larger presence in Kuala Lumpur’s city centre.

The company described freehold development land of this scale within the Golden Triangle as limited. Executive chairman Datuk Wira Chiau Haw Choon said the acquisition was aligned with the group’s strategy of securing development opportunities in high-demand urban corridors.

The group said it intended to approach the project with long-term planning, controlled execution and capital management. The final form of the development will be determined through the design and approval process.

The Jalan Sultan Ismail proposal follows a series of property and land announcements by Chin Hin Group Property. In June 2026, the group announced plans to redevelop a long-stalled site in Ulu Kelang into an estimated RM883 million residential project. It also previewed The NeX in Kota Damansara as its first industrial development.

Earlier in 2026, Chin Hin Group Property announced acquisitions and development plans in Kota Damansara, while its existing active property portfolio continued to contribute to the group’s unbilled sales.

YNH Continues Capital Recycling Programme

For YNH Property, the transaction forms part of a capital recycling strategy involving a long-held land asset.

YNH said the disposal would provide liquidity, support its financial position and allow the group to direct resources towards ongoing projects. At the same time, its proposed 10% participation will maintain a link to the future development of the Jalan Sultan Ismail site.

YNH group managing director Yu Kai Leun said the structure would allow the company to convert part of the land’s value into immediate capital while retaining an interest in the planned project.

The land transaction follows earlier efforts by YNH to review and monetise selected assets. Reports on the proposed deal stated that part of the cash proceeds would be used to strengthen the company’s financial position and address obligations linked to the land.

Project Details Remain Preliminary

The Jalan Sultan Ismail development remains subject to several stages before it can move into construction or sales.

The immediate next steps include shareholder consideration of the transaction, completion of the proposed acquisition and progression of the development plan through the relevant approval process.

Details relating to unit composition, density, access, parking, hotel management, retail space and construction schedule have not been disclosed.

The currently announced information is limited to the proposed RM455 million acquisition, the site’s location and size, the intended mixed-use components, the preliminary RM3.6 billion gross development value, the estimated RM2.72 billion development cost and the continued participation of EC Properties and YNH.

Further announcements are expected if the transaction receives the necessary approvals and the acquisition proceeds towards its targeted completion in the first half of 2027.

Disclaimer: This article provides general property-buying information and does not constitute legal, financial or loan advice. Laws and contractual arrangements may differ according to the property type, location and transaction. Buyers should obtain advice from qualified professionals based on the actual documents involved.