This article first appeared in The Edge Malaysia Weekly on February 9, 2026 - February 15, 2026
AN oil palm plantation along the Segamat-Kuantan Highway has been put up for sale by tender. Split by the highway, the combined freehold land area is about 1,153 acres. The property is located roughly 22km from Segamat town and 13km from Buloh Kasap in Johor, and is said to be owned by Chansun Estate Sdn Bhd.
The Edge understands that the plantation land is priced between RM150,000 and RM180,000 per acre, or RM173 million to RM207 million in total. Recent transactions in the area are said to have been higher, at roughly RM190,000 per acre.
A company search on Chansun Estate lists its largest shareholders as Chan You @ Tan You, who owns a 35% stake in the company, Chow Ah King (20%), Chan Eng Ket and Chan Chung Hua (both 15%), Chan Eng Mat (10%) and Chan Siew Foong (5%).
According to the documents for the tender, the category of land use is agriculture and the land terrain of the prime-aged oil palm plantation is stated as flat and gently undulating.
A local agent says the sale of estate land of such a size is rare, mainly because most estate landholdings in Johor are controlled by major corporations such as SD Guthrie Bhd (KL:SDG), Johor Plantations Group Bhd (KL:JPG), Kuala Lumpur Kepong Bhd (KL:KLK) and Genting Plantations Bhd (KL:GENP), which rarely divest their land assets.
It is worth noting, however, that SD Guthrie, KLK and Genting Plantations have been monetising the value of their land bank by converting some estates into industrial parks either on their own or with joint-venture partners. Both KLK and Genting Plantations have property arms involved in township developments.
Aside from the oil palm plantation, several common shareholders of Chansun Estate are also putting on the market a 103.6-acre tract on Jalan Pulai in Gelang Patah, within Iskandar Puteri, via tender. The freehold development land with residential zoning has a density of up to 20 units per acre.
CBRE | WTW is the exclusive marketing agent handling both tender exercises, which will close on March 18.
The indicative price of the development land, which is in the Johor-Singapore Special Economic Zone (JS-SEZ), is said to be about RM35 psf, or RM158 million.
Olive Tree Property Consultants CEO Samuel Tan says the Gelang Patah land offers strong potential for residential development, given its strategic location in a rapidly maturing industrial and educational corridor.
“The site is well connected via the Malaysia-Singapore Second Link Expressway and JB Parkway, making it highly attractive for commuters working in Singapore. It sits in the JS-SEZ, Flagship B [or Iskandar Puteri], which is expected to drive significant cross-border economic growth and housing demand in 2026 and beyond,” he adds.
The site is adjacent to major employment hubs such as SiLC (Southern Industrial Logistics Cluster), Empire Park and Nusajaya Tech Park, creating a built-in “owner-occupier” market of professionals seeking nearby housing.
Tan says the site is surrounded by established neighbourhoods such as Taman Nusantara, Nusa Perintis and Setia Eco Gardens. Its proximity to EduCity and Eco Botanic provides access to international universities and premium retail, further enhancing the land’s lifestyle value. Median transaction prices for terraced houses in Gelang Patah range from RM570,000 to RM690,000, reflecting a healthy mid-range to high-end market.
“This is a ‘prime-fill’ development site. While the Johor market has faced oversupply in the past, the JS-SEZ and the upcoming [Johor Bahru-Singapore Rapid Transit System] Link (operational in 2027) have shifted the 2026 outlook towards ‘cautious optimism’ for landed residential products in strategic corridors such as Iskandar Puteri,” says Tan.
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