This article first appeared in City & Country, The Edge Malaysia Weekly on June 2, 2025 - June 8, 2025

CPI Land Sdn Bhd, known for its focus on urban residential projects targeting the mass market, is now making a strategic move into the premium landed segment. The boutique developer is capitalising on growing demand for upscale homes, marking a new chapter in its evolution.

“If you take a closer look at the market after the pandemic, you will find that recently launched upmarket residential products are selling very well, some even better than mass market products, [indicating that there] isn’t enough supply,” CPI Land chairman Chung Shan Tat tells City & Country.

“We are actively looking for suitable land to expand into the high-end segment. But we’re not doing this just for the sake of it; our goal is to meet genuine market demand and to do it right. A key factor in getting it right is location. We’ve been carefully scouting for land bank in prestigious areas around the Klang Valley.”

Adding to Chung’s remarks, CPI Land CEO Seth Lim — who joined the company late last year, bringing with him extensive experience in planning upscale developments — highlights the rising trend of rightsizing as a key driver behind the growing demand for high-end residential properties.

“We are seeing growing demand for well-planned, larger condominium units — typically between 2,500 and 3,500 sq ft — mainly from those currently living in landed homes,” says Lim. “They are looking for developments that offer enhanced lifestyle facilities without sacrificing the space and prime locations they are accustomed to.”

He adds that the recent relaxation of the Malaysia My Second Home (MM2H) programme criteria is expected to further boost demand for new luxury residential projects in key property hotspots across the Klang Valley. “You’d be surprised by the buying power of foreign buyers. Many of them see our luxury property prices as reasonable — and even affordable.”

While Chung and Lim confirm that the company is in discussions with potential landowners as part of its product diversification and expansion strategy, they decline to provide further details on the ongoing land acquisition negotiations.

“Location is still the golden mantra when it comes to launching a successful premium project,” says Chung, when asked about the key criteria for selecting land for upscale development. “It has to be in a mature neighbourhood with established amenities, offer good privacy and low density, and be well connected. Sites like that aren’t easy to come by, especially in the Klang Valley. That’s why we consider ourselves fortunate to have Permata Heights.”

Located in Gombak, Selangor, Permata Heights is CPI Land’s first premium landed development. This 20.58-acre freehold residential project sits on scenic highlands within the established 105-acre Taman Bukit Permata township. It was launched by Selangor Properties Bhd in 2001 and about 84 acres had been developed into more than 1,000 two- to three-storey terraced homes by 2016, according to the developer’s website.

“The offer to acquire a combined parcel of 20.58 acres in Taman Bukit Permata came to us about two to three years ago. These parcels are located at the highest point of the entire Taman Bukit Permata, offering an unobstructed KL skyline view, lush environment and excellent privacy, making it an ideal location for a premium landed project,” Chung says.

CPI Land has rebranded the highest point of Taman Bukit Permata as Permata Heights. The development will roll out in four phases, featuring 177 two- to three-storey super-linkhomes, semi-detached houses and bungalows, alongside a serviced apartment project, with details to be announced later. The total gross development value (GDV) is estimated at RM557 million.

The first phase, Permata Gemma, is set for launch in July, spans seven acres and includes 36 three-storey semi-detached homes and 24 three-storey bungalows, with a GDV of RM123 million.

The semidees have a land size of 3,627 to 7,793 sq ft, and built-up from 3,898 to 4,058 sq ft. They have a layout of 5+1 bedrooms and 5+1 bathrooms and are tentatively priced from RM1.76 million.

Meanwhile, the bungalows have a land size of between 4,467 and 8,460 sq ft and built-up of between 4,152 and 4,923 sq ft, offering 6+1 bedrooms and 6+1 bathrooms. Tentatively,  the average selling price is RM2.2 million.

“We are targeting business owners and multigenerational families who value location, privacy and a tranquil environment, and who want a home that reflects their own character. Permata Gemma appeals to them because it is an individually titled development. We will have a guard post ready upon vacant possession to support the residents association in enhancing security,” says Lim.

As the development is designed for multigenerational families with sustainability features, all units come with passenger lift provision, EV charging port provision and solar panel connection points.

“Permata Heights combines modern refinement with tranquility. Our homes feature open layouts, 3.1m ceilings and full-size windows to maximise natural light and ventilation. Generous private gardens and balconies connect residents to nature and foster community,” Lim explains.

Market response to the Permata Gemma preview has been overwhelming, says Lim. “We had more than 100 appointments on the first day that the show units opened. Some visitors even brought cheques, ready to place a deposit. We’re confident about the sales come July — mainly because there’s no direct competition in this area.”

Chung expects Permata Gemma to achieve full take-up within six to nine months of its launch, driven by strong demand for well-located new landed homes in Gombak.

“We’re planning to launch Phase 2 next year, which will offer 39 semi-detached and bungalow units with totally different land sizes and built-ups from Permata Gemma. We’re also finalising plans for Phase 3 — the prime parcel of this prime land,” Chung says.

The 4.86-acre Phase 3 will be the only stratified, gated and guarded landed phase of Permata Heights and comprise 78 super-linkhomes.

“[Selangor Properties’] original plan was for a high-rise on this parcel,” says Chung. “It’s a sphere-shaped plot at the peak of Taman Bukit Permata — we’re calling it ‘The Eyeball’,” he adds with a chuckle.

“Because of its shape and strategic location, it’s better suited for a gated, stratified landed project. We dropped the high-rise idea, since Phases 1 and 2 surround The Eyeball, and our buyers value privacy. This approach simply makes more sense,” he explains, adding that the phase is slated for launch next year.

The remaining 2.16 acres in Phase 4, earmarked for a serviced apartment development, is located farther away from the first three phases. Project details will be announced in due course.

Permata Heights is surrounded by established amenities, including grocers, malls, commercial hubs, public parks, forest reserves, schools and medical facilities. It is also well connected to major highways and expressways in the Klang Valley, such as Middle Ring Road 2, Duta-Ulu Kelang Expressway (DUKE), Jalan Kuching, Karak Expressway and Setiawangsa–Pantai Expressway.

While Permata Heights will keep CPI Land busy for the next three to five years, Chung and Lim are already preparing to launch the company’s next landed homes development in Selayang, Selangor, by year-end.

Spanning 50.73 acres — more than twice the size of Permata Heights — the upcoming project has an estimated GDV of RM486 million and will feature 828 two- to three-storey terraced homes.

“It’s a different product from Permata Heights, designed for the mass market at a very competitive price point, based on our market studies,” says Chung. “The project is still pending local authority approval, but we’re aiming to launch it by year-end. It will be our second launch this year.”

This will be CPI Land’s third landed residential project in the Klang Valley. Its first was Kerian Links, launched in 2019, comprising 12 freehold three-storey linkhomes in Taman Rainbow, Kuala Lumpur.

Following the launch of Kerian Link, CPI Land shifted its focus to high-rise residential projects across the Klang Valley, including Dian Residency, Tuan 2egacy Residency, Residensi Dian II and Tuan Heritag3 Residency. The projects were well received — Tuan 2egacy has been fully sold and completed; and Residensi Dian II and Tuan Heritag3 Residency have achieved 99% and 97% take-up rate respectively.

“We’re definitely open to developing more landed projects in the future. Permata Heights marks an exciting milestone for us,” says Chung. “Even though the overall property market may face challenges, demand for landed homes remains strong — especially among upgraders and families looking for long-term security and space. Landed properties, especially those in low-density, established areas, tend to appreciate better over time compared to high-rises.”

Chung stresses that CPI Land is not shifting focus away from high-rise developments.

“We’re not putting all our eggs in one basket. Mass market products remain our forte, and we’ve consistently delivered them well,” he explains.

As a boutique developer with limited resources, creativity and quality are crucial. “We take pride in each project, offering unique designs that stand out.”

He adds that the market is increasingly recognising the company’s work, particularly its high-rise offerings. “It is reflected in our very strong sales numbers, and [this support] means a lot to us.”

Looking ahead, CPI Land will continue to focus on both high-rise and landed homes in the Klang Valley, while exploring new markets in the country, especially in the south.

“We’ve just acquired our first land outside the central region — 5.55 acres in Permas Jaya, Johor. We’re excited to expand CPI Land’s unique DNA to the south and grow our business,” Chung says.

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