Chin Hin Group Property Bhd is partnering with Atlan Holdings Bhd on a high-rise project in Johor Bahru, with a gross development value of RM478.42 million.

The project will feature two blocks of serviced apartments, 1,260 residential units, 10 retail lots, and multi-storey car parks on a 4.29-acre site.

Atlan’s subsidiary, Kelana Megah Sdn Bhd, will hold an 18% share of the project’s net saleable area.

The development, costing RM406.42 million, will be funded by Chin Hin through sales proceeds, bank loans, and internal funds.

Construction is set to begin in the third quarter (3Q) of 2025 and complete by 3Q 2029.

Chin Hin’s share price fell by 0.5% to RM2 today, giving it a market cap of RM1.32 billion. Atlan’s share price rose by 2% to RM2.60, resulting in a market cap of RM659 million. –TMR